{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Gaining Perspective","title":"Has Market Dispersion Turned Investors into Speculators?","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/c2b09648\"></iframe>","width":"100%","height":180,"duration":3237,"description":"The U.S. equity market is characterized by extreme dispersion. Virtually all the gains in the last eight years have been concentrated in six stocks: the FAANGs plus Microsoft. Strip out those six stocks, and the S&P 494’s performance has been utterly mediocre, roughly equal to that of the rest of the world. Here to discuss the role that dispersion plays in fund management is Chris Davis.","thumbnail_url":"https://img.transistorcdn.com/PTFFMY6oB5YIXhFWQJmDXes0bWUNRHouyrCPK2DHNYM/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ2MTYzLzE2OTc2/NDU2MDktYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}