The markets have been acting strangely for the last ten years or so. Something is going on. Strange thing number one: a small number of powerful tech companies have taken over the stock market. FAANGM companies (Facebook, Apple, Amazon, Netflix, Google and Microsoft) grew by a cumulative 622 per cent since 2014, compared to 136 per cent for the rest of the S&P 500. The FAANGMs are up 140 per cent since the bottom of the market last March.  The size of these companies is one strange thing. The price of them is another. The FAANGMs trade at an average of 37…

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