The U.S. equity risk premium has reached its lowest level in 22 years, a trend that has raised concerns among investors regarding concentration risk. This risk is particularly pronounced in the so-called 'Magnificent Seven' stocks, which have significantly influenced U.S. equity indexes. Analysts have noted that the current equity risk premium is reminiscent of levels observed during the dot-com bubble, with some experts highlighting that the premium on these major stocks is now deeply negative and approaching an all-time low. Investors are encouraged to reconsider their strategies in light of this concentration risk as they navigate the current market landscape.