The future is India and Africa, the last of the world with a demographic dividend ahead before rapidly aging like the rest of the world. Not easy for your average investor to get risk adjusted exposure there yet though.
Average and mean are the same thing. I assume you meant median. It’s similar in this case, but it’s really more like the different between the average of the full list of companies and the average of the full list of companies with the top few hundred removed.
Yes what you are looking for is market-cap weighting (S&P 500) vs "equal weighting" (e.g. the RSP etf) which gives 1 weight to each of 500 stocks, rather than weighting by size of the company.
There are a lot of people that only hold $TSLA and are quite obstinate about it on X. If Tesla can't perfect and launch completely autonomous cars and humanoid robots in the next ten years these people are going to lose most of their net worth. By relative comparison, index investors are highly protected.
Is that really A LOT of people? A few posters on X is hardly a lot of people, no? By contrast there is an awful lot of people who are currently overexposed to the usual suspects due to problematic index weighting. Which is aimed at meeting tax law quirks for tax efficiency rather than investing wisdom.
If you look at the P/E of mid and small cap companies, their valuations look much more sane: https://x.com/sonalibasak/status/1970881745227833694