Explore the trends driving the S&P 500 to record highs: market concentration in several of mega-cap stocks (the "Magnificent Seven"), the compounding effect of strong capital flows into passive ETF investing, and the transformative promise of Artificial Intelligence. We will analyze how these forces reinforce each other, driving returns while also increasing systemic risk. Topics include the mechanics of market-cap weighting, the passive investing boom, AI's impact on earnings, and a balanced discussion on whether the current environment represents sustainable growth or a speculative bubble.

Moderator: Dan Nagel is a retired CPA with an MBA in finance and a lifelong interest in economics and investing.