Are the Magnificent 7 All Truly Magnificent? It’s Not a Trick Question.

All animals are equal, but some animals are more equal than others. As fans of George Orwell know, that aphorism applies to more than just egalitarian livestock. Last week Piper Sandler head of global policy and asset allocation argued that investors avoiding the M7 in an attempt to reduce their risk are misguided, as the group is plenty diversified despite its seeming homogeneity.