Stock-Market Crash: Top 1% Fund Manager Warns 'Destruction' Coming

But just about all of the index's returns since January can be attributed to a few stocks.If you've been sitting on the sidelines of this rally, it can be tempting to jump in.

For Smead, the signs are obvious that this is a speculative episode. Year-to-date, only seven stocks have driven basically the entirety of the S&P 500's returns: Apple, Amazon, Tesla, Microsoft, Meta, Nvidia, and Alphabet. That means bad news for the broader index when the episode is over, he said. He compared the concentration in several stocks to other manias, like the"Nifty Fifty" era in the early 1970s, the dot-com bubble in 2000, and shares of RCA in 1929.In the note, Smead shared three charts that show "how late we are in this particularly long-lasting mania for tech stocks."

"Sentiment and positioning has turned outright bullish as both retail and institutional investor sentiment has reached its highest levels in over 2 years and registered readings in the top quintile of the past several decades," said Mike Wilson, the CIO and chief US equity strategist at Morgan Stanley, in a June 20 note."However, given our fundamental view on growth, we find it hard to get on board with the current excitement and narrative supporting it.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Source: CNBC - 🏆 12. / 72 Read more »

Stock Market News: Regional banks rally, Rite Aid plummets, travel debacle continues in NortheastMarkets have shown renewed optimism after regional banks passed the Federal Reserve's annual stress test. Initial jobless claims cools as economy remains resilient to the Federal Reserve's interest rate hiking campaign. Electric vehicle rollout continues to put pressure on limited resources. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Fed paper argues that 'bleak' stock market returns could slide to 2% annuallyThe paper sees 'significantly lower profit growth and stock returns in the future.'
Source: CNBC - 🏆 12. / 72 Read more »

Stock market news today: Stocks rise after upbeat dataUS stocks rise as traders digest upbeat economic data
Source: BusinessInsider - 🏆 729. / 51 Read more »

UBS identifies a trigger that could spark a stock market sell-off in the second halfUBS said that many analysts predicted that stocks would be at risk in 2023, and the catalyst for a potential downturn may now be in sight.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market news today: US stocks rise on positive economic dataUS stocks rise after fresh batch of positive economic data and bank stress tests
Source: BusinessInsider - 🏆 729. / 51 Read more »