So, we’re living in a time that might be remembered as one of the biggest bubbles in history. And that’s because in the next few weeks, your retirement account and your 401k is going to be buying shares in some of the biggest IPOs in human history, even though you might not want to. Okay, how’s that going to happen? It’s going to happen because the rules of the financial system were just rewritten to make sure that your money is going to be buying it automatically.
S&P 500 just gave musk the middle finger though
But the other index’s didn’t, e.g. nas100 and russells2000. So, lots of bag holders if that goes through.
Luckily passive investment plans (especially retirement funds) overwhelmingly choose sp500 type plans over nasdaq ones.
To be honest I can imagine (and I hope this is the case), that the nasdaq decision to ignore their own rules and prop up the spacex clownshow comes back to bite them in the ass as companies do their fiduciary duty and move to more reliable indexes that aren’t complicit in this.
Yeah, this is what I’m hoping for my imaginary numbers. But I don’t have much hope overall for this doomsday “economy”.