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Hello friends.
Here's an interesting little bit to chew on.
Right now,
Apple is valued at 5.1% of GDP,
Amazon at 4.8%,
Alphabet (Google) at 4.6%,
Facebook at 3.3%,
and Netflix at 0.8% of GDP.
That’s a total market capitalization of nearly 20% of GDP across 5 stocks.
Five stocks make up 20% of GDP, do you think this is normal?
I think not!
At significant secular lows across history,
The entire market reches a valuation level of about 30% of gdp, thats the entire market.
Now we have 5 stocks making up 20% of gdp,
I think we can call this a extreme narrowing of stock market breadth,
Don't you?
Down to business.
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