ACTION: Call your financial manager about SpaceX IPO ASAP
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
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@mastodonmigration This is truly bizarre indeed.. saw it a few days ago
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R relay@relay.an.exchange shared this topic
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
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@mastodonmigration Another reason why I have always refused to buy index funds.
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
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@mastodonmigration The USA is a blight on civilization
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More Background: How Not to Buy SpaceX Stock (It’s Harder Than You Think)
"If Elon Musk’s new public offering of SpaceX stock was an appealing investment, he would let investors make our own decisions about buying it. Instead, with the help of the NASDAQ stock exchange, he is sneaking it into our retirement accounts whether we want it or not."
Free link: https://archive.is/71GCn (thanks Molly B @mjibrower !!!)
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When you sell shit, you have to force people to buy it. It's the antithesis of capitalism's obsession with competition, in theory if not in practice.
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When you sell shit, you have to force people to buy it. It's the antithesis of capitalism's obsession with competition, in theory if not in practice.
Good way to put it.
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
1/
@mastodonmigration Tesla is very over valued as well.
I'd value SpaceX at 90 billion tops this is not chump change it's half of Boeing. -
ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
1/
@mastodonmigration @Pinchy63 In Canada?
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@mastodonmigration Tesla is very over valued as well.
I'd value SpaceX at 90 billion tops this is not chump change it's half of Boeing.What is interesting is that this perversion of the marketplace, that is, the forced acquisition by index funds, is what in effect artificially, and perhaps momentarily, creates the incredibly inflated valuation. To put it otherwise, the certainty that there will be a huge amount of buying, no matter how inflated the valuation, is what enables insiders to price it so high. It is a completely artificial construct.
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
1/
@mastodonmigration it would be nice to have a NASDAQ -1 index... Or -8.... Something that excludes all the AI scam companies
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@mastodonmigration it would be nice to have a NASDAQ -1 index... Or -8.... Something that excludes all the AI scam companies
@carstenfranke @mastodonmigration
We just move some retirement money into a fund based on the S&P500 minus the top 7 or so stocks (all tech/AI shit) AND each stock is equally weighted, meaning the same number of dollars is applied to each stock in the fund. (Sorry, kinda confusing)
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@carstenfranke @mastodonmigration
We just move some retirement money into a fund based on the S&P500 minus the top 7 or so stocks (all tech/AI shit) AND each stock is equally weighted, meaning the same number of dollars is applied to each stock in the fund. (Sorry, kinda confusing)
@chertridge @mastodonmigration do you have the name for it? I had seen people were considering it, but had not seen an actual fund
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R relay@relay.mycrowd.ca shared this topic
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More Background: The Danes are having none of this...
Mastodon Migration (@mastodonmigration@mastodon.online)
Financial News: A Danish pension fund has blacklisted SpaceX, calling it grossly overvalued with catastrophic governance "...concerns echo those of far larger institutions. In May, the heads of the California Public Employees’ Retirement System, the New York City Retirement Systems, and the New York State Common Retirement Fund, which collectively manage more than $1 trillion, sent a joint letter to Musk calling SpaceX’s governance “extreme.” https://thenextweb.com/news/danish-pension-spacex-blacklist-governance-overvalued #SpaceX #SpaceXIPO
Mastodon (mastodon.online)
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@mastodonmigration “Grossly overvalued with catastrophic governance” could also apply to the entire U.S. economy
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@chertridge @mastodonmigration do you have the name for it? I had seen people were considering it, but had not seen an actual fund
@carstenfranke @mastodonmigration
Correction: I was blending two ideas in my head.
Defiance Large Cap Ex-Mag 7 ETF is an exchange traded fund made up of the stocks in the S&P500 minus the top 7 tech stocks. It is no equally weighted. I haven't found a mutual fund structured the same way but there probably is one out there.
Invesco ESG S&P500 Equal Weight ETF is an exchange traded fund with about 138 stocks from the S&P500 after application of a so called ESG filter, only letting through companies that meet someones requirements for being better regarding Environmental, Social and Governance issues. There IS a mutual fund that mirrors this ETF. Confession: we did not dive into the list of 138 stocks and we know that many companies do some serious green-washing to get a better ESG grade. But it is something.
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What is interesting is that this perversion of the marketplace, that is, the forced acquisition by index funds, is what in effect artificially, and perhaps momentarily, creates the incredibly inflated valuation. To put it otherwise, the certainty that there will be a huge amount of buying, no matter how inflated the valuation, is what enables insiders to price it so high. It is a completely artificial construct.
@mastodonmigration It's been going on for a while with app companys with no profit being valued in the billions but now it's just gone crazy like tulips in the 17th century.
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@mastodonmigration It's been going on for a while with app companys with no profit being valued in the billions but now it's just gone crazy like tulips in the 17th century.
Yup. It is indeed a huge Ponzi scheme. Everyone makes money until the bottom falls out.
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Yup. It is indeed a huge Ponzi scheme. Everyone makes money until the bottom falls out.
@mastodonmigration Last one out loses.
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@mastodonmigration Tesla is very over valued as well.
I'd value SpaceX at 90 billion tops this is not chump change it's half of Boeing.@Luna @mastodonmigration Tesla is overvalued but at least it's profitable and producing cars some people buy. It's a real company as much as I dislike their owner.
SpaceX is being valued on their AI branch which *no one* is using as if it was worth trillions while it's losing money every quarter to build something no one as ever asked for. -
@Bowreality @mastodonmigration @Pinchy63 We do not have IRAs and 401ks here in Canada AFAIK.
Though, if your pension fund (or RSP/RRSP) has the Nasdaq listed it's possible. Only way to find out would be to ask I suppose.
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ACTION: Call your financial manager about SpaceX IPO ASAP
Background: SpaceX has filed to go public at a grossly overvalued $1.8 Trillion. The fundamentals in no way justify inclusion in index funds, BUT NASDAQ rules were CHANGED so that it will be included. As a result 401Ks and IRAs will AUTOMATICALLY buy the stock, giving this worthless company your money. It is the greatest grift of all time.
To Do: Contact your financial firm immediately. More below...
1/
Another source:
> the NASDAQ stock market just changed its rules around how it organizes its index of important firms, the NASDAQ 100, to allow SpaceX to get in early. Many index funds automatically mimic the Nasdaq-100, which means that NASDAQ is ensuring that huge amounts of investor capital will flow into the company. Virtually every investor in America will end up owning a piece, whether they like it or not. Companies used to have to trade for three months, now it’s just 15 days. And the company had to have at least 10% of its shares publicly trade, but that’s no longer a requirement.
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@Bowreality @mastodonmigration @Pinchy63 We do not have IRAs and 401ks here in Canada AFAIK.
Though, if your pension fund (or RSP/RRSP) has the Nasdaq listed it's possible. Only way to find out would be to ask I suppose.
@Javensbukan @mastodonmigration @Pinchy63 Yeah I was wondering if there is anything about Canadian funds defaulting to buy crap like that as it was boosted by a Canadian.
I have limited US (and tech, because AI) stocks in my funds as much as possible. However, it seems impossible to invest in a balanced portfolio with 0% US in the limited selection of funds we get to pick from. It’s part of my benefits program so I can only pick what they offer in the plan.
