Weekly Market Recap – July 1, 2024
Railroads, plastic, cars, oil, landlines, internet. AI might be new, but innovations that spur secular investment cycles are not. Companies in these high growth industries have long leveraged their first mover advantage to develop seemingly impenetrable moats, allowing some to dominate the S&P 500’s top 10 podium for decades. But entropy is inevitable. This week’s chart looks at how the S&P 500 market share of each year’s top 10 cohort evolves over the following 5 years.
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