2min chapter

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The Seven Most Magnificent Stocks

TLDR

CHAPTER

Introduction

A discussion on the exceptional performance of the Magnificent Seven tech companies and their significant contribution to the overall market success, creating nearly $5 trillion USD in shareholder wealth.

00:00
Speaker 2
Hello and welcome to the TLDR podcast. The show about the culture, gossip, and business of money. And this week, an interview with probably the most relevant financial educator in North America. Here with me today is always our my co-hosts. Matt Kerez is the director of product for Wealthsimple, who's our sponsor, and was a trader at the world's largest hedge fund for eight years. And today, I can actually look at Matthew because here we are in the same room. Great to see you down. We
Speaker 4
have a better in person than over Zoom.
Speaker 2
Kyla Scanlan, who as of this week is officially a contributor to the dictionary. Did you guys see that? So cool. Congrats, Kyla. Thank you. Yeah. The term she coined by obsession is now part of the dictionary. And of course, Sarah Rieger, the business and markets correspondent for the TLDR newsletter, who comes to us as always from the TLDR satellite office in her apartment in Calgary. Sarah, what do you see out your window in Calgary this morning? Unfortunately,
Speaker 3
a lot of snow, but that's actually seasonally appropriate, so I can't be too mad at it.
Speaker 2
So as always, we're going to start the show with a question that lets us get at the most important and interesting stories of the week. Who is making and losing money? Matthew, who's making and losing money right now that's interesting to you?
Speaker 4
Well, now that we're in December, I've been thinking back on the entire year. And the thing that keeps just coming back to me and that's keeps continues to surprise me is just how well the Magnificent Seven have done. For those of you who don't know, the Magnificent Seven are the big US tech companies, Apple, Amazon, Alphabet, Nividia, Meta, Microsoft and Tesla. They're up nearly 50% on the year. And without the Magnificent Seven, US markets would have had a good year, but not a great year, rising around 10%. But the only way we got to this bonkers year that we've seen, the market rallying nearly 20, is with their performance. Their rise alone created nearly $5 trillion USD in wealth for shareholders. I think that's around one and a half times, Canada's GDP.

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