The career risk of not owning the ‘Magnificent Seven’
Fund manager Nick Clay tells Kyle how bonuses and risk systems can fuel a herd mentality when a narrow cohort of the stock market is shooting the lights out.
25th April 2024 09:03
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The Magnificent Seven tech stocks, including NVIDIA Corp (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN), have dominated the investment landscape since the start of 2023. Collectively, they account for nearly 30% of the S&P 500 index. Joining Kyle to discuss the career risk for fund managers who don’t own the Magnificent Seven is Nick Clay, who oversees the TM Redwheel Global Equity Income fund. In a frank interview, Clay explains how bonuses and risk systems can fuel a herd mentality when a narrow cohort of the stock market is shooting the lights out.
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On The Money is an interactive investor (ii) podcast. For more investment news and ideas, visit https://www.ii.co.uk/stock-market-news.
Kyle Caldwell is collectives editor at interactive investor.
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