The top 10 U.S. stocks now make up around 45% of market capitalization, highlighting extreme concentration in the equity market. Macquarie's Shvets argues that abundant capital and hard-to-price conditions are fostering 'rolling' bubbles, with AI identified as the latest one. The piece is a cautionary macro commentary rather than a direct company-specific development.
The top 10 U.S. stocks now make up around 45% of market capitalization, highlighting extreme concentration in the equity market. Macquarie's Shvets argues that abundant capital and hard-to-price conditions are fostering 'rolling' bubbles, with AI identified as the latest one. The piece is a cautionary macro commentary rather than a direct company-specific development.
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