It’s time to look beyond the ASX’s large caps to make money
There’s so much talk of the S&P 500 being dominated by the “magnificent seven”. But Australia has one of the world’s most concentrated benchmarks in its backyard.
The mega-cap stocks trading on the ASX are undeniably formidable entities, with their size, legacy and power akin to dinosaurs, and as Jeff Goldblum’s character said in Jurassic Park, they “had their shot, and nature selected them for extinction”.
While we don’t think the threat to these companies is that extreme, we do think that stock portfolios need to evolve beyond them.
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Arian Neiron is managing director and head of Asia-Pacific at VanEck.
