00:00:00
what started as an ugly day on Wall
00:00:02
Street has turned downright hideous this
00:00:05
is a major percentage Smackdown apple is
00:00:08
taking look at Nvidia that concentration
00:00:10
risk has been real and we're seeing it
00:00:13
manifest itself in how markets have been
00:00:15
performing and the dispersion even among
00:00:17
the mag 7 shath who do you predict will
00:00:20
be the biggest business loser of 2025 I
00:00:23
don't know what the percentage draw down
00:00:26
from here will be but I think when we
00:00:28
look back the absolute dollar draw down
00:00:32
of the mag 7 will be in the trillions of
00:00:35
dollars and the reason is not
00:00:37
necessarily because of the underlying
00:00:39
fundamentals of these companies but I am
00:00:41
a little bit worried and I tweeted this
00:00:43
a few days ago about just the general
00:00:45
concentration of the top seven 8 nine 10
00:00:48
companies in the indices I think it's
00:00:51
approaching
00:00:52
40% and I think that when you look at
00:00:54
these historic concentrations they've
00:00:56
generally foreshadowed a big draw down
00:00:59
and unfortunately I don't see how you
00:01:02
can inoculate yourself from that risk it
00:01:04
could even be 10% but 10% will be a
00:01:07
couple trillion bucks
