After the great financial crisis, China’s appetite for commodities and technology fueled a global economic recovery.

The “magnificent seven,” Amazon, Alphabet, Apple, Meta, Microsoft, Nvidia, and Tesla, soared 112% (equally weighting each). They outperformed both the SPDR S&P 500 ETF Trust (SPY), which is weighted by market cap, and the Invesco S&P 500 Equal Weight ETF (RSP), which weights each stock equally.

I am traveling for business this week, but I’ll return with a fresh interview for Global Macro Update next Friday. For those of you who missed my interview with Louis Gave last week, read on… There’s a reason this was one of our most-watched Global Macro Update interviews of the year.