The first week of July 2013 was the last time the Russell 2000 traded at these levels. That is 30 months of buy-and-hold for no return. Despite the constant clammer from "Small Cap fund managers" that they are the plaxce to be for protection against a soaring USD (since they are dominantly domestically focused), it seems the fact that small caps are much more sensitive to credit market conditions is the real reason and that market is carnaging.
Russell 2000 is down 22% from the highs... in bear market territory...
And here's why...