Clearbridge's Kagan: In a concentrated market, look beyond the biggest names

Michael Kagan, portfolio manager for ClearBridge Investments, says in the Market Call that investors are looking at a 'very concentrated market,' noting that a huge percentage of the market's recent gains have been driven by just 10 stocks and pointing out that the last time the market was this concentrated was during the first quarter of 2000, just before the Internet bubble burst. While he's not expecting any similar dire outcomes, Kagan notes that investors are scared and betting on the names that are producing results now, but that the popular stocks will suffer when investors feel safe to once again venture further from their comfort levels. Also on the show, Tom Lydon of ETFTrends.com makes a new issue that covers a hot-topic niche his ETF of the Week, Neesha Hathi of Charles Schwab talks 'stock slices,' which let investors buy fractional shares of stock commission-free for a few bucks at a time, and Andrew Beer of the iM DBi Hedge Strategy ETF talks about how the market and hedge funds have reacted to the many shocks created by the global pandemic.