INSUBCONTINENT EXCLUSIVE:
Demand is brisk for an account of all the ways investors have lost their minds
Concern is normal whenever the market is buoyant
health panic, flat-lining economies in Europe, inverting bond yields -- none has restrained the S-P 500, which is up eight of the last 10
Forty days into 2020 and a third of the Nasdaq 100 is already up 10per cent .
Lately it seems half of Wall Street must go on twitter to
protest each time the S-P 500 rises 1per cent or Tesla Inc spikes
For a rundown of all the stuff they say make this leg of the advance untenable, read on.
The stock market has ceased to be a report card on
rising.
Wealth concentration in the market is well documented
Microsoft Corp, Apple Inc, Amazon.com Inc, Alphabet Inc, and Facebook Inc
now make up 18 per cent of the S-P 500, a record
When they break, so will everything else.
It may be sooner than you think, too, with regulators stepping up scrutiny
This week, the Federal Trade Commission issued orders to the five companies for information on past acquisitions
In 1990, the top three S-P constituents -- Exxon Mobil Corp, IBM Corp
-- accounted for 8per cent of the S-P
reason for its success over the years
Since bottoming in 2009, an equal-weighted version of the benchmark has returned 605 per cent including dividends
Financial conditions are historically loose and monetary policy accommodative, and now the central bank is pumping billions of dollars worth
of liquidity into financial markets to keep short-term funding markets tame.
No doubt Fed largess has played a role throughout the bull
Jerome Powell is at pains to categorize as unstimulative
Capital Management and former Cantor Fitzgerald CEO, told Bloomberg Television