Note by Sam Ro, CFA on Substack: "Market concentration is a bit high with Microsoft and Apple accounting for about 13% of the weight in the S&P 500, JPMorgan data shows. But concentration in a few names is not unprecedented. “AT&T was 13% of total U.S. stock-market value back in 1932; General Motors, 8% in 192…"

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Market concentration is a bit high with Microsoft and Apple accounting for about 13% of the weight in the S&P 500, JPMorgan data shows.

But concentration in a few names is not unprecedented.

“AT&T was 13% of total U.S. stock-market value back in 1932; General Motors, 8% in 1928; IBM, 7% in 1970,“ WSJ columnist Jason Zweig once observed.

I wrote a bit about why concerns about the sizes of Apple, Microsoft, Alphabet, Amazon, and Meta may be overblown tker.co/p/weekly-trillion-dollar-compan…

Trillion dollar exposure 💰

And a disclosure about my trillion dollar lifestyle 💰

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