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10 US large-caps FOMO which are getting 'bid' because of global safety trade

Last week, we posited that the relentless bid for S&P 500 is in part to the "global safety trade" and as economic/ seismic ripple effects from Coronavirus grow, investors will see "growth stocks" and "large caps" and "relative group" -- of which, US equities represent such a trifecta.  And YTD, Growth is beating the overall market by 320bp (R1K Growth vs R1K).

There are more data points supporting this view including large retail inflows into US domestic large-cap funds.  But take a look below, we compare the performance of Growth stocks YTD and their performance based on index inclusion:

- Stocks that are in both the Russell 1000 Growth and S&P 500 Growth are handily outperforming those that are not: 6.7% YTD vs 2.0%-4.3%

This is evidence, in our view, that Global safety trade is causing a surge in US growth stock performance, particularly those in both benchmarks.

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POINT 1: SOME GROWTH STOCKS ARE MASSIVELY CONTRIBUTING TO GROWTH INDEX GAINS...Below are the top 25 contributors to Index Performance (Russell 1000 Growth and S&P 500 Growth) based on their ratio of "contribution to gains" vs "index weight"Basically, any stock with this ratio >2.0 is carrying twice its weight in index performance. - Topping the Russell 1000 Growth list is Tesla (12X) and cl...

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