Our former ideas editor opened last year’s prelude to our Ideas of the Year with a nod to That’s So Raven – a tweenies-oriented Disney channel show about a girl with psychic powers. It was a reference that had never been mentioned in these pages before, nor one that I ever thought would appear again. I clearly didn’t see this coming.
That’s the thing about predictions, though. They’re not easy. A year ago, everyone was fretting about an inflated tech bubble, and the fact that the Magnificent Seven represented about a quarter of the global market index. Now? Perhaps Groundhog Day would have been a better cultural reference.
In the main, the Magnificent Seven have continued to outperform. As I write this in mid-December, Bloomberg’s Magnificent 7 Total Return Index is up by a quarter year-to-date, outperforming the 15 per cent gain made by the data provider’s conventional index.