Touché. I did think it's about the asset class as a whole and didn't bother reading the article because it looked like something as useful as a "are we in a rec

Touché. I did think it's about the asset class as a whole and didn't bother reading the article because it looked like something as useful as a "are we in a recession" clickbait. But that isn't surprising either, on a long enough timeline everyone's survival rate drops to zero (hence most individual stocks die, eventually). Also, stock returns are Pareto distributed, which means that a small fraction represents the majority of the gains (hence there will always be massive outperformers that dominate the space). Nothing surprising here.