Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-55

Smart Investor: What investors need to look for in small-cap wreckage

How low can small-cap stocks go? That question is tormenting bargain hunters after a small-cap bloodbath and this week’s relief rally in global equities.

Small-cap valuations are almost back to COVID-19 crisis levels and priced for Armageddon. That’s despite solid economic growth this year and resilient consumer spending.

If the bears are right, then stocks can go lower in 2023. But cashed-up investors will find rich pickings. When the turn comes, it will be fast and large.Here’s what investors need to look for in the small-cap wreckage.

I am not going to paste the whole article from AFR - but this popped up in my inbox today. I think you can’t ignore macro environment with stocks like TNT.