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re: Why is the stock market rallying right now?
Posted on 2/27/24 at 12:07 pm to Bard
Posted on 2/27/24 at 12:07 pm to Bard
quote:Agree with your basic math comment, but I thought this an interesting comparison regarding a small amount of companies responsible for a disparate amount of growth.
This is an incredibly small amount of companies (1.6%) responsible for a vastly disparate amount of growth (and, as such, should be looked at as more of a potential bubble than a permanent fixture)
Are other countries running stock markets with evenly-distributed results, or are they top-heavy as well as the USA? They're top-heavy. Here's a comparison, based on MSCI country stock market ETFs, and using the S&P 500 via SPY for the United States:
quote:
Top 10 Holdings Market Concentration (%):
66 Italy
58 France
58 Germany
56 Brazil
49 UK
43 Canada
42 China
31 USA via SPY
26 Japan
America is closer to the less concentrated end than the most.
1
Posted on 2/27/24 at 6:02 pm to RoyalWe
quote:
America is closer to the less concentrated end than the most.
Agreed, but there's a vast difference in scope. At a recent ETF conference, Dimensional Fund Advisors mentioned that the Mag 7 stocks are now just as large as the entire stock markets of Japan, UK, Canada, France, Hong Kong/China combined (17% vs 17.5%).
The old saying about how "if the US economy sneezes the rest of the world catches a cold" comes to mind. If we are in a consumer debt bubble (like I believe we are) and it pops, that's going to be a helluva sneeze.
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