market concentration: everyone on the record — The Minutes https://minutesof.com/on/market-concentration/ Everyone on the record about market concentration: 5 verbatim quotes from 2 people, September 2023 to March 2026, in one chronology, each with a timestamp… en Sun, 30 Aug 2026 22:33:04 +0000 Marc Rowan: Rowan warns that ten companies dominate the S&P, joking the U.S. retirement system is essentially https://minutesof.com/q/023b43d6-0554-4ba4-aa57-1af2b55fcda5/ https://minutesof.com/q/023b43d6-0554-4ba4-aa57-1af2b55fcda5/ “We have 10 companies that dominate the S and P. We've essentially, as I sometimes joke, we've levered the entirety of the retirement system of The U. S. To NVIDIA.” — Marc Rowan, Bloomberg Podcasts Tue, 03 Mar 2026 16:46:49 +0000 market concentration Marc Rowan: Rowan argues extreme valuations in top stocks reflected money flows, not fundamentals. https://minutesof.com/q/5b876599-308a-4784-b36c-5731e44e1cfe/ https://minutesof.com/q/5b876599-308a-4784-b36c-5731e44e1cfe/ “We had one stock which was larger than the market cap of every stock exchange in the world other than Japan. That was not necessarily fundamentals. That was money flow.” — Marc Rowan, Barron's Thu, 22 May 2025 16:38:39 +0000 market concentration Bill Gurley: Gurley reports Nvidia alone accounts for 5% of S&P 500 returns while 493 other companies contribu https://minutesof.com/q/a68d0462-7e19-4c36-8a7d-2c12cb0921eb/ https://minutesof.com/q/a68d0462-7e19-4c36-8a7d-2c12cb0921eb/ “The other mag six are responsible for 5%. And then the other 493 companies in the S and P 500 are responsible for 4% of the 14% year to date returns.” — Bill Gurley, BG2 Pod Sat, 22 Jun 2024 17:50:33 +0000 market concentration Marc Rowan: Rowan says 100% of returns this year came from 10 stocks at 50 PE, which few would actively buy. https://minutesof.com/q/eef74626-e7d3-48c1-8e85-4c58e18ae84c/ https://minutesof.com/q/eef74626-e7d3-48c1-8e85-4c58e18ae84c/ “A 100% of our returns this year are from 10 stocks which constitute 35% of the S and P that traded an average PE of 50.” — Marc Rowan, Bloomberg Podcasts Tue, 05 Dec 2023 19:05:29 +0000 market concentration Bill Gurley: Gurley notes telecom market share consolidated from 48% to 85% after 1996 Telecommunications Act. https://minutesof.com/q/33c74caa-4bba-414e-affa-1a9bcb426f77/ https://minutesof.com/q/33c74caa-4bba-414e-affa-1a9bcb426f77/ “In 1996, the top four had 48 market share. Four, five years later, after this heralded legislation, they're up to 85%. That didn't work. Let's check-in on the second one. Were they promoting innovation?” — Bill Gurley, All-In Podcast Sat, 16 Sep 2023 01:49:57 +0000 market concentration