This analyst's report from Apollo about AI uses the term "S&P 493" to refer to the "S&P 500 minus the Mag 7" - because if you take out the AI companies, the S&P 500 is tanking. https://www.apollo.com/wealth/insights-news/insights/daily-spark/no-signs-of-ai-payoff-outside-the-tech-sector
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@pluralistic It was always peculiar to use the S&P500 as a measure of American business health because fewer than 10 firms paper over the cracks of probably over a hundred duds and possibly 200 mediocre performers.
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@pluralistic You can also look for mutual funds or exchange traded funds (ETFs) called something like ExMag-7. Equal weighted funds are an easy way to dilute the effects of the Mag-7 (Enshitified7?) without avoiding them completely.
@pluralistic
I love the winnowing down of the S&P 500 to the S&P 493, the losing part. But there’s also something terribly wrong that this is so.
#USPol #sharemarket