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We are due, maybe overdue, for a big reckoning on index fund. Jack Bogle was brilliant & these have been winners for a long time, but nothing lasts forever.

Late stage capitalism just scams all the way down.

open.spotify.com/album/353zZB...

That whole notion popped into my head a few weeks ago. So I talked it through with an AI. It’s so clear that Musk is just a scammer. He seems to spend a lot of time manipulating stock without any consequences. NASDAQ needs to find a way to standup and protect its marketplace from this crap.

Ah ok so snp is safe? I'll just avoid the usual worldwide trackers and do that I think

Will it also be on the S&P 500 or no?

Meh, "rigging the rules" here consists of making something that would happen anyway but needlessly slowly, a large public company being added to the index, happen faster. If you think the market is wrong about which companies are valuable, don't buy an index fund. There are loads of other funds.

Exactly. I purchased S & 500 index to diversify away from tech but had to sell it when it became 40 % AI. Then Oracle which I had owned as a divided stock popped as a AI/cloud stock. I am hoping now that Costco doesn't doesn't become an AI stock.

Looked around and this exists! SPXXAI informedclearly.com/en/ai/41303/...

In response, NYSE is planning to do similar for their S&P which has even broader reach than the NASDAQ 100. finance.yahoo.com/markets/stoc...

The thing that extra worries me is that this potentially makes him - and SpaceX - Too Big to Fail. If he drives the company into the ground, expect a lot of wailing and gnashing of teeth from the Financial Sector, plus demands that it get bailed out to save index funds and so forth.

by way of comparison Elon's target valuation is close to that of Saudi Aramco (the Saudi state owned oil company). while SpaceX made negative 5 billion in profit last year, that company made $105 billion www.aramco.com/en/news-medi...

There's no reason for dual share classes to exist for publicly traded companies. Need to be banned. Awful from both a capitalist and socialist perspective. The CA wealth tax using control is a nice bonus, but need far more than that.

Value also seems high given the regulatory risk i.e. a Dem president in 2028 running on "no government funding for Elon Musk" and putting his nazi salute in campaign ads on loop

Should 🏃‍♂️ on sending Musk to The Hague. Bet that’s a winning strategy

At $75B market cap it would be about 0.35% of the QQQ and less than 0.2% of the S&P. I do think it's an attractive candidate to short, but I wouldn't say it's worth worrying about the amount being held by index funds until/unless they sell a lot more shares.

The biggest heist by the richest nazi.

bsky.app/profile/patr...

www.youtube.com/shorts/rF2AF...

Impressive in a way that someone will be able to replicate the Nortel networks case on a USA scale.

Every story about the SpaceX $1T comp package should point out that it will be your money paying him, whether you want it to be or not

Can anyone knowledgeable about money @justinwolfers.bsky.social @profgalloway.com Maybe talk about this? I’m sure most of the “Stonks” crowd is excited for this, but as someone who owns almost exclusively index funds and has a pension, I’d like to know what’s happening here.

You're not wrong, but this stuff shouldn't need discussion because the answer is, "there should be a law" or more likely, lately, "regulators should do their jobs". It's like saying "the guys planning a robbery in broad daylight" is under discussed. This is a solved problem!

Let the looting commence!

this is what I do, from the institutional investor side, and the mechanisms for enforcing this stuff are just plain insufficient. the irrational market for musk or musk-adjacent stock blows up a lot of the usual ways

Index funds were a good way to go until the Orange Lunatic took power again. I got my retirement out of the stock market.