The S&P 500 is dominated by a handful of Big Tech companies like Apple and Amazon.
Investors in the index are speculating on just a few companies, Apollo's Marc Rowan says.
The S&P 500 weights its constituents by market capitalization, meaning companies with trillion-dollar market caps like Apple, Amazon, Alphabet, and Microsoft have outsized influence among the roughly 500 stocks in the benchmark index.
Moreover, Apollo outbid Berkshire for Tech Data in 2019, underscoring that Rowan and Buffett have similar tastes in businesses.
Buffett hasn't voiced the same concerns as Rowan about the intense concentration of Big Tech in the S&P 500.
Persons:
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Organizations:
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Locations:
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