The opportunity to increase allocations is sizable given low portfolio allocation and advisor use

https://5228948.fs1.hubspotusercontent-na1.net/hubfs/5228948/alternatives-decoded/q4-2025/iCapital-Alternatives-Decoded-Q4-2025_F.pdf?hsCtaTracking=828cd448-2e2e-4b4d-97d8-e58f5f029ccf%7Cd943c8d4-482f-4509-8263-ac3aaaebccc7

US P/E ratio is 40% higher than the P/E ratio for world ex US

https://www.apolloacademy.com/wp-content/uploads/2026/02/021526-Chart_V3.pdf

Three interest rate insensitive engines of growth in 2026

https://www.apolloacademy.com/wp-content/uploads/2026/02/020826-Chart.pdf

S&P 500 profit margin expansion coming from tech companies

https://www.apolloacademy.com/wp-content/uploads/2026/01/012526_Chart_V2.pdf

J.P. Morgan US Technology Leaders Strategy SMA

https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/smas/presentation-us-tl-strategy-sma.pdf

Companies with negative earnings continue to outperform companies with positive earnings

https://www.apolloacademy.com/wp-content/uploads/2026/01/012026_Chart_v2.pdf

Stocks are extremely overvalued: Shiller Cyclically Adjusted PE ratio near all-time highs

https://www.apolloacademy.com/wp-content/uploads/2026/01/011626-Chart_v3.pdf

The extreme weight of AI in the S&P 500

https://www.apolloacademy.com/wp-content/uploads/2026/01/011326-MarketConcentration.pdf

An AI bubble"checklist": what should investors look out for?

https://www.newyorklifeinvestments.com/assets/documents/perspectives/2026-wellington-us-outlook.pdf

The median age of companies going public: Currently 14 years

https://www.apolloacademy.com/wp-content/uploads/2025/12/010226_Chart_v4.pdf

Higher foreign demand for US assets in 2025 than in 2024

https://www.apolloacademy.com/wp-content/uploads/2025/12/122825_new_v3.pdf

S&P 500 forward P/E ratio vs subsequent 10-year annualized returns

https://www.apolloacademy.com/wp-content/uploads/2025/12/121125_Chart.pdf

The number of $1 billion+ deals that are IPOs vs. private deals

https://www.apolloacademy.com/wp-content/uploads/2025/12/120925_Chart_V5.pdf

More S&P 500 firms are raising earnings guidance

https://www.apolloacademy.com/wp-content/uploads/2025/12/120525-Charts_v3.pdf

Wealthier households mainly own financial and business assets

https://www.apolloacademy.com/wp-content/uploads/2025/11/113025_Chart.pdf

Visualizing the Magnificent 7's market cap evolution since 2020

https://www.newyorklifeinvestments.com/assets/documents/weekly/gmsnote-110225.pdf

Very strong foreign demand for US assets after Liberation Day

https://www.apolloacademy.com/wp-content/uploads/2025/11/112725-Chart_v2.pdf

Nasdaq and Bitcoin decoupling

https://www.apolloacademy.com/wp-content/uploads/2025/11/112625-Chart_v2.pdf

Extreme valuations for the S&P 500

https://www.apolloacademy.com/wp-content/uploads/2025/11/110625-Chart_v2.pdf

2026 earnings expectations revised up for Magnificent 7 and down for everyone else

https://www.apolloacademy.com/wp-content/uploads/2025/11/110525-Charts.pdf