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what started as an ugly day on Wall Street has turned downright hideous this is a major percentage Smackdown apple is
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taking look at Nvidia that concentration risk has been real and we're seeing it manifest itself in how markets have been
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performing and the dispersion even among the mag 7 shath who do you predict will
00:00:20
be the biggest business loser of 2025 I don't know what the percentage draw down
00:00:26
from here will be but I think when we look back the absolute dollar draw down of the mag 7 will be in the trillions of
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dollars and the reason is not necessarily because of the underlying fundamentals of these companies but I am
00:00:41
a little bit worried and I tweeted this a few days ago about just the general concentration of the top seven 8 nine 10
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companies in the indices I think it's approaching 40% and I think that when you look at
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these historic concentrations they've generally foreshadowed a big draw down and unfortunately I don't see how you
00:01:02
can inoculate yourself from that risk it could even be 10% but 10% will be a couple trillion bucks