Michael Nadeau

There's more volatility.

You can make kind of short-term bets.

And I think if you're a long-term investor, it's a little bit trickier to navigate.

But, yeah, I mean, this is kind of the – I guess if you zoom out on this –

To me, it's either the final blow off or it's just like we're in the final blow off and maybe we have another one to go.

Yeah, this is really just a high level to understand the concentration in the market, how that lines up with other periods where there were bubbles.

And we've known this has been going on for a while.

The MAG-7 really led most of this rally.

What I'm starting to pay a little bit more attention to now is we saw this 12% correction or so in NASDAQ.

in March.

And we've seen the big 25% move coming out of that over the last five weeks or so.

What's sort of interesting to me is that Mag7, there's not like full leadership amongst Mag7 in that move back to all-time high.

So only...

four out of the seven.

So it's still more than half of them are now back to all-time highs, but you still have a few of them that are not participating.

When things broke down back in 1999, that's kind of what it looked like is you had like this broad, you know, leadership amongst the winners.

And then like a few fell off and then a few more fell off.

And then there was like one that was still like kind of everything was concentrating around.

So I'm kind of paying attention to how Mag7 is performing.

We've got a chart in here just showing like equal weight.