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3min chapter
We Have Lost All Sense of Decorum
The Compound and Friends
The History of Mark Zuckerberg
In the brave new world of AI, investors seem to be willing to pay a higher valuation multiple for earnings. The mega cap eight currently account for 27% of the market cap of the S&P 500 and sport a 31.2 forward P.E. In 2013, this line was at zero meaning there was no difference in price to earnings ratio of the mega cap. And it should have been, right? The market was wrong.
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