The first quarter is almost behind us, and analysts are starting to discern the patterns that are shaping the year’s stock markets. Two key points are already standing out. One is the high levels of market concentration; the Magnificent 7 mega-cap tech firms are still soaking up a disproportionate share of the gains. The second, related to this, is a need to diversify – but to choose the diversification carefully. Investors can’t rely on a general broadening of the market to lift a portfolio. Ra
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