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U.S. stocks were again the star, turning in nearly a 25% total return. The return was anything but even, however. Research indicates that, historically, about 4% of publicly held companies typically result in the entire stock market’s excess return above cash.
This year, the Magnificent Seven (0.2% of U.S. stocks) accounted for the vast majority of the return clocking in a 102.4% return and now accounting for nearly 25% of the value of the entire U.S. stock market.
– Källa: https://www.etf.com/sections/features/allan-roths-2023-review-markets-lessons-outlook