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Winners continue to win even though their stock prices get ahead of their true value because there is a persistent market cap weighted bid regardless of price from passive funds.
Clearly they are all huge companies I am not saying they shouldn't be the top companies but if you were building a portfolio for yourself with 500 stocks would you allocated 26% of that portfolio to 5 of them. Probably not.
... there is a persistent market cap weighted bid regardless of price from passive funds.
indeed. now i get it! Like a snowball effect.
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