![#61 - End of the 4% Club Golden Era](https://leuthold.imgix.net/leutholdgroup.com/e10abc7e-ac61-4e23-a4d3-10f5222cc88d/61-thumb.png?fit=fillmax&w=222&bg=FFFFFF)
Phil Segner takes another look at the 4% club. For those of you not familiar with this vignette: back in the day, achieving a 4% weight in the S&P 500 had been a rare feat, occurring only during periods of extreme enthusiasm for technology, conglomerates or oil. The blessing of membership soon turned into a curse, with most taking just a cup of coffee behind the velvet ropes before being thrown to the curb because of dramatic underperformance to the rest of the Index.