The Magnificent Seven tech stocks, including Nvidia, Microsoft and Amazon, have dominated the investment landscape since the start of 2023. Collectively, they account for nearly 30% of the S&P 500 index. Joining Kyle to discuss the career risk for fund managers who don’t own the Magnificent Seven is Nick Clay, who oversees the Redwheel Global Equity Income fund. In a frank interview, Clay explains how bonuses and risk systems can fuel a herd mentality when a narrow cohort of the stock market is shooting the lights out.

On The Money is an interactive investor (ii) podcast. For more investment news and ideas, visit www.ii.co.uk/stock-market-news.

Kyle Caldwell is Collectives Editor at interactive investor.

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