Freddie Mercury once said “Tomorrow gets me higher, higher, higher...” but since October it’s been lower, lower, lower for small caps. After a sustained period of outperformance, the Small Ords have now underperformed the ASX 50 by 9.67% since the beginning of October. Of the five stocks discussed in this episode of Buy Hold Sell, only A2 Milk has been spared the pain, while Retail Food Group, Aconex, Altium and Speedcast, are all down over the same period. Interestingly, these companies all featured heavily in Livewire’s 2017 reader picks. So has this period of underperformance created an opportunity? We ask Ben Rundle from NAOS Asset Management and Chris Stott from Wilson Asset Management to share their views and to see if there is some light at the end of the tunnel for small caps.