With some, perhaps many, large and mid-cap growth stocks possibly "priced for perfection"

Small / mid-caps have been undervalued for a few years. They've only seen a recent boost over the past few months. I don't generally buy individual stocks. For these segments I buy IJR (iShares Core S&P Small-Cap ETF), MVV (ProShares' Leveraged S&P MidCap 400 x2 ETF), and VEXAX (Vanguard Extended Market Index Mid Blend ETF).

It’s definitely a good time to invest in small caps. But I disagree with taking an across the board approach through ETFs. A lot of small caps are crap. I’d rather do research and select my small caps than invest across the board and hope the sector as a whole rises. Obviously that’s more time intensive and not a good fit for everyone, but it has the potential to return larger profits

An investment strategy suitable for one person, of course, might not be for another as you very clearly indicated.

Investing in individual stocks especially small caps, entails high risks but also a potential for high rewards.

Nevertheless, I too believe a very good case can be made that it's currently a good time to invest in small cap stocks.

I research small cap companies focusing on fundamentals.

Sometimes, a company not currently profitable will nonetheless gain my attention, in which case I focus on high growth of revenues that I believe will translate into positive earnings in the future.

Essentially, in undertaking my own due diligence, I look for companies that have share prices that I believe do not reflect the upside potential for much higher share prices usually several years into the future.

Of course, sometimes the companies I invest in do not perform as I thought they would, in which case I cull them out and look for suitable replacements. Meanwhile, I continue holding or add shares to the ones that perform as I had thought they would until I choose to take profits.