# MSCI Rebalancing Impact

Every quarter, MSCI’s index rebalancing announcements offer a potential windfall to traders who take positions in added or deleted stocks. A Risky Finance visualisation shows how it works.

## AI Transformation of the S&P 500

Two new visualisations show how AI transformed the S&P 500, and will continue to do so in the future.

## Top-Heavy S&P 500 Index

The top-heaviness of the S&P 500 index has a quality all of its own, with tech companies rivalling nation states.

## UK Listing for ARM Holdings

The UK government is desperate for Softbank-owned ARM Holdings to have a UK listing. But reversing the long-term trend toward foreign ownership of UK assets requires a rethink of the regulatory and tax obstacles to UK share ownership.

## Implications of the Strong Dollar

Now that the dollar has reached 30-40 year highs against major currencies, how should non-US investors think about US stocks? We’ve built some new visualisation tools to help analyse the problem.

## Market Reflections During War

As war unfolds in Ukraine, equity markets are reflecting the abrupt change from pandemic to war.

## Small-Cap Stocks Outperformance

Rampant gigantism in the stock market took a blow recently as small-cap stocks enjoyed a run of outperformance. Is this the return of value?

## S&P 500 Wealth Inequality

The S&P 500 index added $5 trillion of market cap this year, led by its biggest members. The trend is accelerating wealth inequality.

## M&A Driven by Borrowing

With a softening approach from central banks, borrowing-driven M&A is being rewarded.

## Major Cap Gains in S&P 500

Just four S&P 500 companies gained $1 trillion of market cap this year. Was this prophesised by a trio of academics?

## Visualisations

[How Japan is changing, in two charts](/content/2026/03/how-japan-is-changing-in-two-charts/index.html)

[Playing MSCI’s quarterly rebalances](/content/2026/03/msci-rebalancing/index.html)

[How the S&P 500 moved into hyperspace](/content/2026/01/how-the-sp-500-moved-into-hyperspace/index.html)