Tracks relative performance between the Magnificent Seven mega-cap stocks and the remaining S&P 493 companies.
1 take · first discussed Jun 28, 2025
Private company — no public price to score. We track what they said; valuation-mark tracking is on the roadmap.
The sole view represented comes from Friedberg, who holds a bearish, medium-conviction stance on the broad equity market. He argues that the recent rally is likely driven by multiple expansion tied to anticipated money-supply growth rather than genuine fundamental improvement. He highlights a stark internal divergence, with the S&P 493 struggling badly relative to the Magnificent 7, and characterizes the outlook for the vast majority of equity market cap as questionable. No other hosts provided theses, so no agreement or disagreement can be noted.
Friedberg is skeptical the stock market rally reflects genuine fundamental improvement, arguing it may be inflation of multiples driven by expected money-supply expansion, and notes the S&P 493 is struggling badly relative to the Mag 7.
the S&P 493 are really struggling relative to the Mag 7. And there's a really kind of questionable outlook ahead for the vast majority of equity cap out there.”1:21:05