Editorial companion

What stands out

Jeff Mortimer's line that the Mag 7 are "in the back of the bus" landed like a dare. He argues 2026 is finally showing the power of diversification as money rotates out of Big Tech and investors favor value over growth after the artificial intelligence (AI) trade rattled many, partly because hyperscaler capital expenditures (CapEx) ballooned. The Schwab Network segment from August 26, 2026 makes a straightforward point: concentration risk matters, and multi-year returns are shaped more by how you handle big winners than by chasing the next narrative.