Market weight of the giants

There’s been a lot of noise around CBA’s valuation — at its peak, it traded at over 30x forward earnings and made up 12% of the Australian equity market. Media and brokers called it “unprecedented.” But was it really?

Dougal Maple-Brown reflects on his 25 years at Maple-Brown Abbott, charting the market weight of Australia’s biggest stocks at their peaks vs. today.