Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The year-to-date performance of the S & P 500 of fifteen percent rests precariously on the backs of eight stocks, Apple, Amazon, Broadcom, Meta, Alphabet, Microsoft, Nvidia and Eli Lilly. This is the very example of a narrow, or thin, market where index total returns are driven by a small number of its components. It is a high-risk condition since disappointing performance by any of these components will drastically damage the index return from all of its stocks.
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