After election highly likely we see 10-20% correction
Stock market concentration has rarely been so extreme:
The top 10 US companies now account for 18% of global stock market capitalization, the most since the early 1970s.
Over the last 15 years, this share has TRIPLED.
To put this into perspective, even at the the 2000 Dot-Com bubble peak, the top 10 firms' weight was 14%, or 4 percentage points lower.
At the same time, the top 5 US companies reflect 15% of global stocks' market value, the most since the data began tracking in the 1970s.
A few key US stocks effectively ARE the stock market.
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