The Future: Markets, AI & Climate Change with Jeremy Grantham
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The Bubble Effects of the Big Tech Stocks
The mega cap stocks now comprise about 26% of the S&P 500. So could that really throw this bubble deflation scenario off and prolong this rally, especially in the big tech stocks for a while? I suspect it already has elongated this process somewhat. And there is some fairly small chance, I think, that it will mitigate it to such an extent that we will only have modest decline. It's very hard to tell. There was a recent Wall Street Journal article that said the mega caps might be 25 some odd percent of the market. But in fact, in individual investors portfolios, they are 50% of individual investors' portfolios.
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