I think the rules have changed now that people are on the internet and there are millions of little guys like us getting information that wasn't available pre-internet.
Imo the 2000 bubble was the result of Americans getting their first home computers in the latter half of the 1990s. So much info on stocks--so little time to learn how to use it.
Before the internet, the big Wall Street brokerages controlled the information on companies, and they tended to look down their noses on small caps. They weren't going to make the big bucks doing primary and secondary offerings in small caps.
The internet has changed the investment scene. Small caps are here to stay as long as there are guys like us logging onto our computers every morning.
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