Your Money: Jul. 19, 1999

MIGHTY MICROS Mutual funds that generally invest in companies valued at less than $500 million have not exactly been star performers these past few years, buried by raging big caps. But it may be time to get small. The average micro-cap fund surged 19.8% in the first six months of 1999, up from last year's measly gain of 1.4%. That's almost double the return of the average diversified stock fund. Micro-caps are even beating out the Standard & Poor's 500 index. Micro- caps' relatively low price-to-earnings ratios have made them increasingly attractive. And they continue to be. Analysts say there is...

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