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Investment

Allan Gray exposes 'hateful eight' bubble threat

Allan Gray chief investment officer Simon Mawhinney has sounded the alarm that the Australian stock market is dangerously concentrated, with the 'Hateful Eight' companies - the big four banks, Macquarie, Wesfarmers, Goodman Group, and Aristocrat - racking up 85% of last year's returns despite representing just 28% of total market capitalisation.

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Read more: Allan GrayASXSimon MawhinneyAristocratGoodman GroupMacquarieWesfarmersOrbis InvestmentsValuation risk