An investing legend explains why now is the time to start moving into unloved small-cap stocks

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It's been a stellar few years for US growth stocks, but in a richly valued market , it's time to start looking elsewhere for deals, says investing legend Rob Arnott. Arnott, the founder of Research Affiliates, doesn't recommend dumping growth shares all at once, but rather, thinks investors should start whittling their exposure while looking toward other unloved corners of the market. "I'd be worried about being complacent about a market that's as expensive as it is today, but I'd also be