Jonathan joins Wealthion host Maggie Lake to explain why the S&P 500 is essentially a bet on ten names, how “active share” distinguishes true stock pickers from passive indexers, and why diversification beyond one’s best ideas diminishes returns.
He also discusses why copper, silver and uranium may be more predictable than technology over the next five years as purchasing-power hedges against debt and fiat debasement. For investors heavily invested in index funds, this is a timely reminder of where active management can deliver significant alpha.