The US stock market now accounts for a massive ~45% of global market cap, while hard assets hit lows not seen since 1925!
The top 10% of S&P 500 stocks now account for 75% of the index's market cap. This is an even higher percentage than the peak of the Dot-com bubble. Big stocks are getting even bigger in the new AI-based world. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) …