DC Lite #67

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1. Investor home purchases. "Real estate investors bought 26.1% of low-priced U.S. homes that sold in the fourth quarter. That’s the highest share on record and is up from 24% a year earlier."

2. The Global Wave (I). The Global Wave ("amalgam of seven components representing various aspects of the global economy") troughed last month.

3. FMS rotation. "In February, FMS investors rotated into telecom, stocks, tech, and US…and out of EM, REITs, staples, and cash."

4. Top 5. "As a result of the Mag 7’s dominance, the US stock market is close to being the most concentrated in history."

5. Growth-adjusted valuations. "Mega Cap valuations look more reasonable when adjusted for growth."

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