The (Not So) Magnificent 7

The Magnificent 7 companies: Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia, and Tesla have been a dominant force in U.S. equity markets over the past few years, helping propel the performance of the S&P 500. Last year, these seven companies accounted for 48% of the benchmark's 23% price return. 

But their start to 2025 has been less inspiring, with same companies as a group returning -6% YTD (Jan, Feb). The S&P 500 as a whole is still up a modest 1.2% YTD. However, back in 2022, when the Mag 7 fell 40%, it pulled the S&P 500 down 19%. Without the Mag 7, the S&P 500 would have returned -8%. Maybe the pendulum swings back the same way in 2025. Given that these companies are collectively now a bigger weight of the S&P 500 at 30.6% than in 2022 (24.1%), the impact of a Mag 7 decline would be even more. 

MLB: Best Game Ever

Looking back at Ohtani's remarkable (ridiculous?) game from Oct 2024: 6 for 6; 3 HRs, 2SB, and 10 RBIs...

Chappelle Show, Chappelle Show...

Dave Chappelle was back...hosting the first SNL episode of 2025 (his fourth time overall). And he did not disappoint, riffing on the L.A. fires, Freak-Offs, immigrants, etc. in a trademark 17-minute monologue filled with hilarious but sharp commentary (most opening SNL stand-ups clock in around 7-8 minutes). Chappelle ended with words of empathy and compassion for displaced people..."whether in the Palisades or Palestine." Enjoy...