All panels
Other Charts — Historical Charts and Data
Every Other Charts chart, valuation metric, drawdown record, and constituent breakdown from History of Market. 11 panels, refreshed daily.
§ I
COUNTERPOINT · 1950—NOW — How much market do the ten largest hold
Top-10 share of total US equity value: 30% in 1963, 12% in 1993, 27% in 2023 — above 33% in 2026, past the 1963 peak. From 2024 the series is our recomputation, refreshed daily.
COUNTERPOINT · THE #1 STOCK — Being the biggest was a losing trade — until this decade
From 1950–2023 the #1 stock lagged the index by 4.3% a year. Since 2014 that reversed: year-end top-3 names have mostly beaten the index since. Recomputed yearly, refreshed daily.
IWB vs IWM · 2000—NOW — Twenty-six years of large over small
Russell 1000 (IWB) vs Russell 2000 (IWM) total return, 100 invested in May 2000. Rising concentration means large-cap years.
§ II
COUNTERPOINT · 1985—NOW — How deep, and how many come back
Max drawdowns of current S&P 500 members since 1985, in eleven depth bins: count, share back to the prior peak, and average years needed. Green: our recomputation; red dashed: the original full sample (6,500+ stocks, incl. delistings).
COUNTERPOINT · FORWARD TSR — The deeper the fall, the wilder the bounce — and the rarer the recovery
Median annualized returns 1/3/5/10 years after the trough, grouped by drawdown depth. Deeper falls bounce harder, but fewer make it back to the prior peak.
COUNTERPOINT · PEAKS & TROUGHS — Peaks scatter, troughs cluster
Distribution of each stock's max-drawdown peak month (up) and trough month (down). Peaks are scattered; troughs cluster in 2000–02, 2008–09, 2020 and 2022.
COUNTERPOINT · 60 MONTHS — Sixty months off the bottom
Stocks in the ~75% drawdown bin, indexed to 100 at the trough, tracked for sixty months. Grey: individual paths; black: the median.
NVDA vs INTC · CASE STUDY — Nvidia and Intel: two afterlives of the same bubble
Both chipmakers fell ~90% in the dot-com bust: NVDA regained its peak in four years; INTC took 25.5 years, touching its 2000 high only in 2026.
§ III
COUNTERPOINT · 2000—2023 — The market hands cash back
From 2000–2023, US public companies issued $9.7T of equity and retired $14.0T — a net $4.3T out. SBC-to-sales rose from 0.2% to 1.3%.
COUNTERPOINT · BY SIZE DECILE — Stock-based compensation is a regressive tax
Russell 3000 by revenue decile: SBC-to-sales is 3.5% in the smallest, 0.5% in the largest; the two smallest deciles diluted holders 8.5% over three years, the two largest were negative (buybacks).
COUNTERPOINT · SBC × BUYBACKS — Issue little, retire much — and win
Russell 3000 (revenue ≥$1B) in four SBC × buyback quadrants: low SBC + high buyback returned 13.7% a year in 2021–2023; high SBC + low buyback, -0.1%.