From IsabelNet
The US share market is more concentrated than it's ever been. And that makes it risky, because most of the top ten stocks are from a single industry: AI/tech.
AI is proving very costly, and is not yet generating anywhere near its cost in revenue. The last time this kind of euphoria overtook markets was during the dot com boom at the turn of the century. And that ended badly, with the S&P500 falling 50% over the next two years. Some of the hot favourites (Amazon, for example) eventually went on to become billion-dollar companies; most vanished without trace.
Bubbles almost always pop. They rarely deflate softly.
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