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S&P 500 rejects SpaceX, also blocking entry for OpenAI and Anthropic (arstechnica.com)
submitted 3 months ago by to c/technology@lemmy.world
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[–] 66 points 3 months ago (14 children)

I didn't know that the SNP500 had such rules, but I'm so happy they didn't cave.

I hope people sue the indexes for changing the rules. Im not sure its possible but it really makes an index meaningless if its not consistent.

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  • [–] 17 points 3 months ago (13 children)

    Nasdaq and Russel caved though. I don't know if there is a way to avoid them in our 401k.

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  • [–] 8 points 3 months ago (2 children)

    I actually just went hella heavy on Int'l and value stocks, in order to completely divest from Musk exposure in my retirement accounts.

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  • [–] 7 points 3 months ago* (1 child)

    Which muskless and ai-less indexes u found? I'm working on the same

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  • [–] 1 point 3 months ago*

    VTV is value stocks, so minimal exposure. AND Vanguard Healthcare fund has often had consistent performance across Market Cycles. I haven't yet found an anti AI portfolio.

    I'm looking ex-us for my growth and blended strategies. VXUS and VEA principally.

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  • [–] 7 points 3 months ago (8 children)

    You should have the ability to select the investments in your 401k.

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  • [–] 1 point 3 months ago* (last edited 3 months ago) (7 children)

    I mean, every company I participated in just give a menu of 20 or 40 mutual funds, targeting different maturation points or Industries, and people absolutely are allowed to pick which funds they want their 401K allocated into. It's just going to require an additional 10 minutes of searching to find out how much AI diaper load is riding in your preferred funds, and possibly having to forgo growth funds and total index funds for some number of seasons.

    Personally, I just moved to roughly 40% in Int'l funds despite ASML and TSMC being featured prominently, because it is still a net reduction in exposure and because I need the diversification (~10% a S&P 500' value is directly exposed either AI or semiconductor, and roughly 33% of S&P 500 is straight Tech of some flavor).

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  • [–] 14 points 3 months ago (6 children)

    We had a zoom meeting with my elderly mother's investment adviser recently and expressed our concern about the AI bubble. He of course said he didn't think it was a bubble; his main argument was "these CEOs are smart people and they're legally obligated to preserve the financial health of their companies so they wouldn't be going in for anything that had the potential to be a bubble". Conveniently ignoring all the other bubbles in history when the CEOs were "smart people".

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  • [–] 3 points 3 months ago (5 children)
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  • [–] 2 points 3 months ago (4 children)

    Ah yes, Raymond gripping hands with James.

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  • [–] 3 points 3 months ago (3 children)

    Completely unrelated, if you have chickens I hope they are doing splendidly.

    World needs a lot more backyard chickens.

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  • [–] 3 points 3 months ago (2 children)

    I am actually chickenless and male and I hate life. My name is a Kids in the Hall reference.

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  • [–] 3 points 3 months ago

    Every 401k I and my wife have had let us set which index, but would rebalance itself every year because they believe they know better. It’s really annoying, but if you’re familiar with the markets, I would say it’s very necessary. Especially since the default funds will often have fees associated to them.

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