U.S. stocks continue to soar!

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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

VOO closed over 300, not an all time high but something I was looking forward to.
Gufomel
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Post by Gufomel »

Tesla :mrgreen: :mrgreen: :mrgreen:
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Re: U.S. stocks continue to soar!

Post by Corsair »

Gufomel wrote: Wed Jul 22, 2020 3:45 pm Tesla :mrgreen: :mrgreen: :mrgreen:
TSLA records profit due again to government regularity tax credits. So much accounting wizardly
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H-Town
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Post by H-Town »

Corsair wrote: Wed Jul 22, 2020 3:50 pm
Gufomel wrote: Wed Jul 22, 2020 3:45 pm Tesla :mrgreen: :mrgreen: :mrgreen:
TSLA records profit due again to government regularity tax credits. So much accounting wizardly
Hey! It takes skills :mrgreen:
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Re: U.S. stocks continue to soar!

Post by lostdog »

Robot Monster wrote: Wed Jul 22, 2020 12:38 pm
J G Bankerton wrote: Wed Jul 22, 2020 12:14 pm
Robot Monster wrote: Wed Jul 22, 2020 7:53 am I consider myself reformed, but the true test is not when things are going well in the market, the true test will be when/if those ill winds once again begin to blow...
That is why Bogleheads are not supposed to follow the market.
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
It's hard cuz mindless monitoring is addictive, and this thread ain't helping.
Just as long as you don't take any action on it, it's ok to look.
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Re: U.S. stocks continue to soar!

Post by lostdog »

mrspock wrote: Wed Jul 22, 2020 2:43 pm
Stinky wrote: Wed Jul 22, 2020 2:18 pm Looks like we’re starting a melt up in the last hour.
Yup, bulls ‘n bears are duking it out right now. So far bulls are winning... TSLA releases earnings after the close, should be some fireworks.
:moneybag
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oldzey
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Re: U.S. stocks continue to soar!

Post by oldzey »

Keep on soaring, U.S. stocks! :sharebeer

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Re: U.S. stocks continue to soar!

Post by mrspock »

Hyperchicken wrote: Wed Jul 22, 2020 3:20 pm So, when is Tesla posting its earnings? Asking for a friend...
:shock: OMG :moneybag
Hahaha ya, I think Elon is getting his next vest :) . He deserves every penny, to put up with so many nay sayers and doubters. Like the guy lands rockets on end.... on barges floating in the water. Oh... and two at once.

Pretty sure crushing a bunch of companies, who are so inept — they can’t even stay solvent for more than 15 years in a row, is going to be within his abilities.

Glad SCHB has a slice of TSLA, I’m enjoying my little piece of the pie.
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Post by Schlabba »

oldzey wrote: Wed Jul 22, 2020 3:57 pm Keep on soaring, U.S. stocks! :sharebeer

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Dutch beer?
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Re: U.S. stocks continue to soar!

Post by jtower68 »

mrspock wrote: Wed Jul 22, 2020 3:59 pm
Hyperchicken wrote: Wed Jul 22, 2020 3:20 pm So, when is Tesla posting its earnings? Asking for a friend...
:shock: OMG :moneybag
Glad SCHB has a slice of TSLA, I’m enjoying my little piece of the pie.
Absolutely. Tesla is a prime example as to why I am glad to (mostly) own VTSAX. Even though there is little difference in performance between it and the S&P 500, it is a great feeling to have owned a piece of Tesla from its infancy to the ~10th largest company in the US.
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Re: U.S. stocks continue to soar!

Post by Robot Monster »

jtower68 wrote: Wed Jul 22, 2020 4:57 pm
mrspock wrote: Wed Jul 22, 2020 3:59 pm
Hyperchicken wrote: Wed Jul 22, 2020 3:20 pm So, when is Tesla posting its earnings? Asking for a friend...
:shock: OMG :moneybag
Glad SCHB has a slice of TSLA, I’m enjoying my little piece of the pie.
Absolutely. Tesla is a prime example as to why I am glad to (mostly) own VTSAX. Even though there is little difference in performance between it and the S&P 500, it is a great feeling to have owned a piece of Tesla from its infancy to the ~10th largest company in the US.
Seems to be in Vanguard Mega Cap ETF (MGC), as well.
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Re: U.S. stocks continue to soar!

Post by CurlyDave »

mrspock wrote: Wed Jul 22, 2020 3:59 pm
Hyperchicken wrote: Wed Jul 22, 2020 3:20 pm So, when is Tesla posting its earnings? Asking for a friend...
:shock: OMG :moneybag
Hahaha ya, I think Elon is getting his next vest :) . He deserves every penny, to put up with so many nay sayers and doubters. Like the guy lands rockets on end.... on barges floating in the water. Oh... and two at once.

Pretty sure crushing a bunch of companies, who are so inept — they can’t even stay solvent for more than 15 years in a row, is going to be within his abilities.

Glad SCHB has a slice of TSLA, I’m enjoying my little piece of the pie.
Not only does he land rockets on barges, he catches the nosecones on giant nets, and he gives the ships and barges goofy names. And he smokes pot on a recorded podcast.
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Re: U.S. stocks continue to soar!

Post by mrspock »

It's midnight on the West Coast (aka da best coast), you know what that means? *DING* *DING* *DING* That's right, it's time for the S&P futures to SOAR! DOW up 100pts, S&P up a solid 15-16pts.

Will you wake up to another months worth of expenses being paid for? Or a will before the bell earnings pour cold water on what has been a pretty smokin' earning season so far? Let's hope for the former. Good luck everyone! Yes, even you stubborn 3 fund international Bogleheads :P .
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Post by Stef »

New ATH in the coming 2-3 weeks?
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Post by Stinky »

Stef wrote: Thu Jul 23, 2020 4:04 am New ATH in the coming 2-3 weeks?
117 points away from all time high on S&P. 7 trading days left in July 2020.

If Mr. Market will give us an average 17 point gain per day, we will be at ATH by July 31.

Who would have thunk it?
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Re: U.S. stocks continue to soar!

Post by CurlyDave »

Stinky wrote: Thu Jul 23, 2020 4:10 am
Stef wrote: Thu Jul 23, 2020 4:04 am New ATH in the coming 2-3 weeks?
117 points away from all time high on S&P. 7 trading days left in July 2020.

If Mr. Market will give us an average 17 point gain per day, we will be at ATH by July 31.

Who would have thunk it?
I am in favor!
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jason2459
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Post by jason2459 »

Going to be earnings vs jobs today. Jobless claims went up for first time since the first huge spike.
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Post by lostdog »

Starting in the red today. No Tesla party....
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Re: U.S. stocks continue to soar!

Post by Robot Monster »

lostdog wrote: Thu Jul 23, 2020 8:30 am Starting in the red today. No Tesla party....
Starting in the red, ending in the green, cuz that's the color of money. Boom.
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jason2459
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Post by jason2459 »

The green/red light switch is going to get worn out today I think.
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J G Bankerton
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Post by J G Bankerton »

lostdog wrote: Thu Jul 23, 2020 8:30 am Starting in the red today. No Tesla party....
Today is value day; it happens.
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Post by firebirdparts »

lostdog wrote: Thu Jul 23, 2020 8:30 am Starting in the red today. No Tesla party....
That would be a good illustration of "priced in", if there was such a thing.
A fool and your money are soon partners
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J G Bankerton
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Post by J G Bankerton »

A talking head said; Tesla’s push toward renewable energy could make it worth trillions.If Tesla went private at 420 it would not be worth 1600 now. How long will the cult of personality last?
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Post by lostdog »

And we were all pumped up thinking there would be a soaring day because of Tesla. No one knows nuthin...
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Post by Robot Monster »

lostdog wrote: Thu Jul 23, 2020 12:05 pm And we were all pumped up thinking there would be a soaring day because of Tesla. No one knows nuthin...
The underdog Russell is having its day +0.71%.
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Post by McGilicutty »

The market giveth ... and the market taketh away.
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Post by Corsair »

Fed broadens firms it will transact with on 3 loan programs. Markets going back up

:beer
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Post by qwertyjazz »

McGilicutty wrote: Thu Jul 23, 2020 1:21 pm The market giveth ... and the market taketh away.
Blessed be the name
Or maybe something about idols - always got it confused :happy
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Post by lostdog »

McGilicutty wrote: Thu Jul 23, 2020 1:21 pm The market giveth ... and the market taketh away.
Exactly....lol Since January 2018....
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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

Everything is red, especially large growth. This is the end of the world as we know it. :shock:

Upon further review some things are shinning through the gloom.
Silver and gold, silver and gold
Ev'ryone wishes for silver and gold
How do you measure its worth?
Just by the pleasure it gives here on earth
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J G Bankerton
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Post by J G Bankerton »

It is not all free-fall today; I hold VZ, it is 1.39% of my stocks. It was my former employer and pays a 4.5% dividend. The dividend is the only thing left from its Ma Bell days.
Verizon Posts Second-Quarter Earnings Beat on Stable User Growth
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Re: U.S. stocks continue to soar!

Post by pascalwager »

J G Bankerton wrote: Sun Jul 19, 2020 10:55 pm
pascalwager wrote: Sun Jul 19, 2020 10:02 pm My DFA account is still down 13% YTD. Large value and small company (US and intl) really plummeted.
DFA?
Dimensional Fund Advisors (DFA)

Designated Fund Accounts (DFA)
Dimensional Funds Advisors, and I should have said down 16%, not 13%.

My DFA US LV and DFA US Microcap funds had beaten the S&P 500 since my 1995 purchases as of late last year, but didn't recover recently like total market.
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J G Bankerton wrote: Fri Jul 24, 2020 9:21 am It is not all free-fall today; I hold VZ, it is 1.39% of my stocks. It was my former employer and pays a 4.5% dividend. The dividend is the only thing left from its Ma Bell days.
Verizon Posts Second-Quarter Earnings Beat on Stable User Growth
And GTE, I think AT&T as reconstituted by SBC contains more of the former Bell operating units.
The mergers that formed Verizon were among the largest in U.S. business history, culminating in a definitive merger agreement, dated July 27, 1998, between Bell Atlantic, based in New York City, and GTE, which was in the process of moving its headquarters from Stamford, Conn., to Irving, Texas.
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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

TheTimeLord wrote: Fri Jul 24, 2020 10:23 am
J G Bankerton wrote: Fri Jul 24, 2020 9:21 am It is not all free-fall today; I hold VZ, it is 1.39% of my stocks. It was my former employer and pays a 4.5% dividend. The dividend is the only thing left from its Ma Bell days.
Verizon Posts Second-Quarter Earnings Beat on Stable User Growth
And GTE, I think AT&T as reconstituted by SBC contains more of the former Bell operating units.
The mergers that formed Verizon were among the largest in U.S. business history, culminating in a definitive merger agreement, dated July 27, 1998, between Bell Atlantic, based in New York City, and GTE, which was in the process of moving its headquarters from Stamford, Conn., to Irving, Texas.
GTE was bought and sold by Verizon. What I meant was the dividend is all that is left of Ma Bell in Verizon. AT&T pays a 7.01% dividend, that is all that is left of AT&T form the Ma Bell days. The Spirit of Service has left the building.

On CNBC the talking heads were giving their recommendations for dividend stocks. I was hoping one would recommend VZ. Sure enough one did and VZ jumped .25% instantly. People actually trade on what the talking heads say. :oops:
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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

pascalwager wrote: Fri Jul 24, 2020 9:59 am Dimensional Funds Advisors, and I should have said down 16%, not 13%.

My DFA US LV and DFA US Microcap funds had beaten the S&P 500 since my 1995 purchases as of late last year, but didn't recover recently like total market.
I have read about this type of investing. I'm beginning to understand what is going on. I quote form DFA's marketing.
In bold graphics they proclaim.
Rather than attempting to predict the future or outguess others, ...
81% of Dimensional’s equity and fixed income funds beat their benchmarks.
Then buried in a disclaimer one has to click on to read it says.
Funds that are currently and were previously restricted to LWI Financial Inc. clients were excluded due to different historical fee structures. Dimensional subadvised funds are also excluded...
There is nothing new that I can see there.

It appears someone can predict the future.
Renaissance Technologies run by another "academic" has caught my attention. Sadly the only way to buy his funds is to be employed by Renaissance Technologies. He is hiring, openings are listed on his site; MBAs and financial PHDs need not apply.
J G Bankerton wrote: Sun Jul 12, 2020 9:01 pm Jim Simons has a theory too, the Chern-Simons Theory. He is an academic who has a building named after him at MIT.

He warned the SEC about Madoff in 2003. He pulled his money out of Leamon Brothers three months before they went bankrupt. He made more money than Madoff and was investigated by the SEC. The SEC found nothing.

How does this prize-winning mathematician and former code breaker rack up his astonishing returns?
He will not say how he does it and investing is by invitation only. The Renaissance Technologies Investor website is by invitation only.

Investors are all employed by the fund. “Renaissance Technologies, founded in 1982, is still infamous for passing over MBAs and finance PhDs in favor of physicists, mathematicians, even astronomers.” That doesn’t sound like it would work but it looks like Simons has found the secret sauce.

I think he is using a prediction by the numbers scheme. That is a link to a short PBS video trailer explaining how that works. It is real science.

He also pushes the rules to the limit. This is a PDF of what the Senate Permanent Subcommittee on Investigations found. He worked out a tax avoidance/evasion scheme with banks.

It appears someone can predict the future and he isn’t talking. That’s why I believe he is the real deal.
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J G Bankerton wrote: Fri Jul 24, 2020 11:59 am It appears someone can predict the future.
Renaissance Technologies run by another "academic" has caught my attention. Sadly the only way to buy his funds is to be employed by Renaissance Technologies. He is hiring, openings are listed on his site; MBAs and financial PHDs need not apply.
J G Bankerton wrote: Sun Jul 12, 2020 9:01 pm Jim Simons has a theory too, the Chern-Simons Theory. He is an academic who has a building named after him at MIT.

He warned the SEC about Madoff in 2003. He pulled his money out of Leamon Brothers three months before they went bankrupt. He made more money than Madoff and was investigated by the SEC. The SEC found nothing.
Renaissance Tech's Medallion fund has a 30 years, 66% a year (39% after fees) track record using quant. Here is a great podcast about RenTech and the illusive Jim Simons in Masters in Business podcast, with Barry Ritholtz interviewing the Wall Street Journal's Gregory Zuckerman about about book.

https://podcasts.apple.com/us/podcast/g ... 0455505105

Per wikipedia: The Medallion fund has the "best track record on Wall Street, returning more than 66 percent annualized before fees and 39 percent after fees over a 30-year span from 1988 to 2018"
Last edited by TechGuy365 on Fri Jul 24, 2020 1:47 pm, edited 1 time in total.
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Post by abuss368 »

Back up that truck again!
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J G Bankerton
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TechGuy365 wrote: Fri Jul 24, 2020 1:41 pm Per wikipedia: The Medallion fund has the "best track record on Wall Street, returning more than 66 percent annualized before fees and 39 percent after fees over a 30-year span from 1988 to 2018"
The funds he sells to non employees don't do nearly that good. What he does probably won't work if he had to manage billons of dollars. The reason for the high fees is he day trades using leverage.

He knows something and is keeping it quiet. Maybe the astronomers he hires can read the stars :confused
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J G Bankerton wrote: Fri Jul 24, 2020 3:10 pm
TechGuy365 wrote: Fri Jul 24, 2020 1:41 pm Per wikipedia: The Medallion fund has the "best track record on Wall Street, returning more than 66 percent annualized before fees and 39 percent after fees over a 30-year span from 1988 to 2018"
The funds he sells to non employees don't do nearly that good. What he does probably won't work if he had to manage billons of dollars. The reason for the high fees is he day trades using leverage.

He knows something and is keeping it quiet. Maybe the astronomers he hires can read the stars :confused
In the podcast they talked about those fees. Their Medallion management fee is 5/44, or 5% management fee plus 44% of the profits, compare to normal hedge funds which is 2/20. To their credit they know the fund has to be limited to a certain size, and yes now it's only open to employees as a recruitment and retention tool. I think they're keeping it to about $10B.

Astronomers = big data scientists. Stars = data.
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Post by lostdog »

The Robinhood kids are taking profits this week...
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Post by Robot Monster »

lostdog wrote: Fri Jul 24, 2020 3:41 pm The Robinhood kids are taking profits this week...
I thought Dave Portnoy made it clear only losers take profits. Someone needs to get this kindergarten class in order.
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J G Bankerton
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Post by J G Bankerton »

TechGuy365 wrote: Fri Jul 24, 2020 3:30 pm In the podcast they talked about those fees. Their Medallion management fee is 5/44, or 5% management fee plus 44% of the profits, ...
I'll bet that 44% comes back to the investors/employees in some form to avoid taxes.

They have been known to do some creative bookkeeping. This is a PDF of what the Senate Permanent Subcommittee on Investigations found.

These guys know less about stocks than many retail investors.
co-CEO Robert Mercer was asked how the firm made so much money with its models he responded: Sometimes it tells us to buy Chrysler, sometimes it tells us to sell.
Unbeknownst to Mercer, Chrysler had been acquired by Daimler AG in years prior and no longer existed as a stock!


They may be able to bend the fabric of space-time and see a fraction of a second into the future and trade on it. Something is going on but what?
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Image
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J G Bankerton wrote: Fri Jul 24, 2020 9:46 pm ...
They have been known to do some creative bookkeeping. This is a PDF of what the Senate Permanent Subcommittee on Investigations found.

...
Interesting. They buy an option from a bank which represents a "basket" of equities, they then direct the bank to buy and sell those equities within the fund. It essentially turns short term capital gains which would otherwise need to be paid, into long term gains.

Does this sound like anything else you know of? I think they had index fund envy.

The difference here of course, is we don't have a little software program churning out buy & sell orders to Vanguard or Schwab everyday. Pretty shady indeed.
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Post by Stinky »

Futures are up.

Time for stocks to start soaring again.
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Post by hisdudeness »

Stinky wrote: Mon Jul 27, 2020 5:39 am Futures are up.

Time for stocks to start soaring again.
Shush!
I think I hear helicopters!
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Post by Sigz »

I see a red week tbh.
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Sigz wrote: Mon Jul 27, 2020 7:50 am I see a red week tbh.
I see robin egg blue, with a light drizzle of burgundy.
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Stef wrote: Sat Jul 25, 2020 4:55 pm Image
Good chart. Weren't people back on January 1 saying the same thing as now? That the index is too heavily weighed at the top?

I don't try to figure it out. I figure that the stock market has increased over time, and that's good enough for me, so I'll own the whole shebang!
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Post by Robot Monster »

Triple digit golfer wrote: Mon Jul 27, 2020 8:29 am
Stef wrote: Sat Jul 25, 2020 4:55 pm Image
Good chart. Weren't people back on January 1 saying the same thing as now? That the index is too heavily weighed at the top?

I don't try to figure it out. I figure that the stock market has increased over time, and that's good enough for me, so I'll own the whole shebang!
...but you can own the whole shebang with a non-top-heavy S&P 500 Equal Weight ETF. :wink:
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