Half of the companies in the Russel 2000 are unprofitable and chronically mismanaged. By contrast he magnificent 7 are effectively monopolies with good management teams that make money hand over fist.
OK, Apple and Tesla are overvalued. They're both struggling with growth. But Microsoft has a market cap of 2.8 trillion and it's still growing at 15% year over year. It's absolutely unreal. Amazon, Meta and NVIDIA are also doing great.
It's easy to yell "bubble!" and certainly it's not hard to find stocks that are overvalued. But it's nothing like yesterday's zaniness of NFTs and DAOs.
OK, Apple and Tesla are overvalued. They're both struggling with growth. But Microsoft has a market cap of 2.8 trillion and it's still growing at 15% year over year. It's absolutely unreal. Amazon, Meta and NVIDIA are also doing great.
It's easy to yell "bubble!" and certainly it's not hard to find stocks that are overvalued. But it's nothing like yesterday's zaniness of NFTs and DAOs.