Even if you're sticking with large-cap stocks, market risks increase during these periods.

Consider the period from 1995 to 1999, when large-cap stocks dominated the markets.

Of course, the fact that large-cap stocks are relatively inexpensive doesn't mean they can't become even cheaper.

Eliminate January returns and the large-cap stocks actually come out ahead since 1926.

Still, a big-enough trade can create market impact costs in large-cap stocks, too.

A distinct return to favor for large-cap stocks would be one.

As a result, the numbers now show large-cap stocks beating small caps since the start of the year.

Well, you might say, consider the performance of small- and large-cap stocks.

Among large-cap stocks, he said in a recent interview, "our effect on the market is more one of noise."

Whatever the reason, don't be surprised if large-cap stocks shine for the first time since the late 1990s.