Is the Market Too Concentrated?

Together With

We are in the business of making mistakes. Winners make small mistakes; losers make big mistakes.

Ned Davis


Michael Mauboussin looks at the concentration of global markets over the past 75 years and whether fundamental corporate performance supports the current increase in concentration.

As of June 4, 2024

Meketa looks at the implications of removing China from the broader emerging markets group, analyzing country and sector composition, historical returns, valuations and more.

Facts & Figures

J.P. Morgan estimates Berkshire Hathaway now owns $158 billion in Treasury bills, or about 3% of the entire bill market. Link

The 100,000th person has gotten their CFP designation. Link

“No car company besides Tesla has been able to…sell more than 100,000 EVs a year across its EV lineup.” Link

Selena Gomez’ beauty brand, Rare Beauty, reached $400 million in sales for the 12 months ending in May, 2024. It is valued at ~$2 billion. Link

68% of High Yield and 61% of Investment Grade issuance over the last 10 years happened when the Fed Funds rate was below 1%. Link

The “Big 5” tech companies are sitting on over $400 billion in cash and have highly profitable core businesses.

Source: Bridgewater. As of May 20, 2024

The EPS growth gap between the Magnificent Seven and the rest of the S&P is expected to shrink.

Note: Top 7 basket includes Nvidia, Meta, Amazon, Microsoft, Alphabet, Apple, Tesla. Source: RBC US Equity Strategy, Bloomberg as of 6/7/24

The number of activist campaigns by short sellers declined from 280 campaigns in 2015 to only 110 campaigns in 2023. Link

As of June 3, 2024

Global Asset Allocation

The Cambria Global Asset Allocation ETF utilizes a quantitative approach to manage a diversified portfolio of global asset classes. GAA is an unconstrained, go-anywhere global strategy that targets an allocation of:

  • 45% global stocks

  • 45% global bonds

  • 10% to other asset classes such as commodities, currencies,

    real estate and alternative strategies

Distributed by ALPS Distributors, Inc. Investing involves risk, including possible loss of capital. To determine if this Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expense before investing. This and other information can be found in the Fund's full or summary prospectus which may be obtained by calling 855-383-4636 (ETF INFO) or visiting our website at Read the prospectus carefully before investing or sending money.


5/28/24 - 40 minutes

15 years after the unwind of the Madoff Ponzi scheme, Markopolos looks back on that experience and makes the case that the penalties associated with being caught need to be considerably larger.

5/10/24 - 95 minutes

Jim O’Shaughnessy talks about his career, quantitative investing, and why AI will impact everything from art to stocks.

4/30/24 - 82 minutes

World-renowned performance psychologist Dr. Loehr explains the drivers behind successful achievement, personal fulfillment and life satisfaction.

What Else Is Happening

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