This needs to be fixed or it will end in disaster.
Why?
Average Americans buy S&P 500 index ETFs, in part, because Buffett told them to. They were told they would pay very little and get diversification in the 500 best companies on earth to ride out storms.
But as concentrations rise in a very small percentage of those stocks, the risks don’t fall. They rise. If the indices don’t cap the max percentage of any one stock, you essentially are holding a direct bet on that ONE company. In this case, see that when you buy an index of 500 companies, you’re really buying 10 companies with 490 others thrown in.
If there is any market volatility, the lack of diversification could cause massive impairment.
That’s ok if you’re a “professional” and that’s what you are betting on but most ETF buyers aren’t professional stock traders and they will be in for a rude awakening if this isn’t addressed.
We had a great time last week at @CAALA_org’s Holiday Mixer! 🧡 We loved connecting with our legal community while getting into the holiday spirit. Thank you CAALA for hosting such a fantastic event!
#caala#holidaymixer
JOE ROGAN TO SAM ALTMAN: HEY BRO, I THINK YOU LIKE MONEY
"Look, you don't buy one of those unless you really want to get rich; you want everyone to know how rich you are.
I don't have a $4 million car, I wouldn't drive that; I can't park it anywhere.
If you're not interested in money, you get a Mercedes, a nice S-Class."
Source: @joerogan
Few better than Rob Wood, Esq. on tax law. Some relief for #wildfire survivors in the way of taxes on settlements in wildfire lawsuits.
https://t.co/CCUU4ftq7z
When I was in my twenties I worked like a dog: first to arrive, last to leave, regularly working weekends. Not because I had a demanding boss—I just loved what I was doing.
But after several years of this—and some not-so-subtle encouragement from my girlfriend (now wife)—I finally backed off that schedule a little bit. But by that point I had built up many of the skills I’d use for the rest of my career as an entrepreneur.
I learned the techniques that let me get the critical things done while still leaving time to have a life outside of work
One huge benefit of AI is how much it’s driven the cost down for law firms to build their own custom software. We used FullCity Consulting to build out custom software. It was remarkably accessible from a cost standpoint, built on Claris (an Apple company) and is ours. No more per seat, per month BS.