Fashion Victims July 1, 2007 Dear Investor: Although large-caps finally are asserting their presence, the gap between large and small stock valuation remains vast. Whether by price to cash flow, price to earnings (prospective or trailing), or discounted cash flow valuation, large stocks look like the best buy of any asset class since…well, since large stocks at the end of 1994. The more asset classes change, the more they stay the same. Why do...