SpaceX IPO is generating heroic measures to find buyers. Moving it into the S&P immediately grabs the passive flows. The lockout period has been truncated and graduated so that $1.5 trillion of shares looking for suckers (new owners) don't arrive all on the same day. Other AI-based IPOs will also put pressure on the markets to find buyers. You may recall the the markets could not absorb all the shares coming out of lockout period in the dot-com boom. The result was the pin hitting the bubble. I think these huge IPOs will be the same missile hitting the current bubble, but what do I know?
Pääministeri Orpo linjaa tavoitteita:
-Perintö- ja lahjavero pois,
-ylin marginaalivero alemmas,
-työn verotuksen keventäminen kaikissa tuloluokissa.
Kuulostaa oikeudenmukaiselta. Ja siltä, että jo käynnissä oleva vuosisadan verouudistus Ruotsin tapaan saisi jatkoa. Näin myös tärkeä toimintaympäristön ennakoitavuus säilyisi.
51% of the S&P 500's market cap is in stocks trading above 10x sales.
Half the index.
In 2002, after Sun Microsystems crashed 90%, CEO Scott McNealy famously said this about his own stock at 10x sales:
"At 10x revenues, to give you a 10-year payback, I have to pay you 100% of revenues for 10 straight years in dividends. Zero costs. Zero R&D. Zero taxes. Zero employees. What were you thinking?"
He was explaining why investors had been insane to pay it.
Today, half the S&P 500 trades there.
Different decade. Same math.
This is a crime. This is deliberately exposing the general public to the most overvalued company in the history of the stock market in order to prop up an IPO that jailbreaks the entire index/pension/retirement fund system.
This is selling suicide pills at the drugstore.