So far this year, the top 10 stocks in the S&P 500 have accounted for more than 76% of the index's gain.
This is the 2nd most concentrated reading for the S&P in the past 20 years. The highest percentage was 79%, achieved in 2007, right before the Global Financial Crisis.
Are we in a new AI-powered Tech renaissance that will continuing powering the markets higher for years to come?
Or are we risking a major market breakdown, putting all our hopes in a handful of companies that can't keep growing at the meteoric rates that Wall Street is expecting?
For answers, we're fortunate today to speak with Fred Hickey, editor of the highly respected newsletter The High Tech Strategist, which Fred has been publishing since 1987.
Fred is extremely worried about the lack of demonstrable return-on-investment from the hundreds of $billions currently being spent on generative A.I.
In his estimation, the tremendous valuations currently being awarded to A.I.-related stocks is on par with the infamous Dutch tulip and South Sea manias. He predicts the current situation will end as painfully as those asset bubbles did.
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