Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The Rabid Capitalist has previously noted the risk of a narrow market (see https://therabidcapitalist.com/2024/03/23/the-magnificent-seven-become-the-dynamic-duo/). When index performance is concentrated in a small number of stocks, the market is susceptible to collapsing when leaders disappoint. Nvidia, the most magnificent of the magnificent seven stocks, has delivered thirty-one percent of the year to date return in the S & P 500 index, becoming the pillar upon which the broad averages rest.
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