According to @KobeissiLetter, Information Technology and Communications stocks now account for a record 45% of total US market capitalization. According to @KobeissiLetter, this sector share has doubled over the last 10 years. According to @KobeissiLetter, tech’s combined weight now exceeds the Energy and Materials sectors’ peak 41% share in the 1950s. According to @KobeissiLetter, the last time any single industry had comparable dominance was the transport sector in the 1880s, making today’s market the least diversified in roughly 140 years. According to @KobeissiLetter, technology stocks effectively are the stock market.