Mellody Hobson
speaker
121 appearances
1 recordings
1 series
first heard Dec 2020
last heard Dec 2020
Mellody Hobson’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then at the same time, simultaneously, almost instantaneously, they saw this dramatic rise.
And so it really does give context to that idea of a roller coaster.
Now, the thing that's really interesting to us is when you think about a roller coaster, it's so counterintuitive, but you feel safer when you're at the bottom and you feel least safe when you're at the top.
But investors are just the opposite.
As the stocks get cheaper, they get more and more upset.
And as the stocks get more expensive, they become, which we have seen of late, euphoric.
So it's so interesting to me that because these FAANG stocks plus Microsoft have been dominating so much, I mean, let me give you a perspective.
Right now, these six stocks account for almost 25% of the S&P 500, and they represent 77% of the return over the last year through September.
So they have really been driving the market.
And that's this idea that there's the best and the rest, which makes me wonder, why are we calling it an S&P 500?
Because it doesn't really represent the returns of 500 companies.
It's really the S&P 494 that I want to understand what's happening there, because these six stocks have done so much to fuel the investor enthusiasm for the market.
Well, certainly investor psychology right now is very bullish, despite the fact that we're in a pandemic.
That's the thing that is so interesting.
I was looking the other day, the Dow Jones had hit 50 all-time highs this year, 50 during a pandemic.
This is not something you expect.
This is during a time when some companies have no revenues because they've literally had to shut down their businesses.
And so as a result of that, again, this is like that ketchup commercial when I was a child for Heinz.
You know, they would sing Anticipation.
It's that Carly Simon song.
Showing 41–60 of 121 · page 3 of 7
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