The big are getting bigger, and the small are being swallowed up
The big five are such a large percentage of the market, it hardly matters what the rest of the stocks are doing.
“Technology stocks on balance were more likely to have generated extreme negative than extreme positive decade horizon shareholder returns in the seven decades since 1950.”
-Stocks are a video game
-Praying for beta
-Antitrust laws, and more
History is rhyming
The level of bearishness from older folks, given where the market is, is both surprising and completely understandable.
On today’s show we discuss:
-How to think about bonds that don’t have much yield
-The Fed’s actions in the first quarter
-Some alternatives to treasuries
The bar keeps moving higher and these companies keep jumping over them.
Do strong returns in the short-term mean revert?
Everything is working