Warren Buffett once said it can pay “to be fearful when others are greedy and to be greedy only when others are fearful.”
Since the GenAI boom took hold last year, investors have hopped on the bandwagon of the Magnificent Seven—a movie-inspired moniker that refers to Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—and the group accounted for half the S&P 500’s total gains in 2023, according to a report from Morgan Stanley.
