The S&P 500 is the gold standard for index investors. The index has blown every other global index out of the water over the past decade:
Data by YCharts
At the peak of the bull market, during the 2021 Berkshire Annual Meeting, Warren Buffett gave an ominous warning to investors. He presented a chart with the world's largest companies by market cap:
IN 1989 Japanese big dogs dominated the world's large caps. We know how badly that ended.
Could US be on the cusp of emulating the Japanese experience in a sizeable mean reversion that could last over a longer period that we could possibly imagine?
