said

“Essentially, we argue that the days of the ‘Magnificent Seven’ as a tradeable cohort are mostly behind us,” Citi strategist and managing director Scott Chronert said in a note to clients late Friday.

Those investors — managers who make decisions on behalf of clients, such as portfolio managers — are a “source of potential upside,” and equities should also continue to benefit from the “cross-asset inflows boom,” he said.

Those investors — managers who make decisions on behalf of clients, such as portfolio managers — are a “source of potential upside,” and equities should also continue to benefit from the “cross-asset inflows boom,” he said.

If Alphabet ends up being a winner, it “would actually hurt several stocks” that he covers, so he’s warning investors to “prepare for volatility,” Reitzes said.

“Most innovative new asset classes have faced similar criticisms over time, but it’s clear our customers want access to these markets, and we’re empowering them to invest on their own terms,” said J.B.