Showerthoughts @lemmy.world Brodysseus @lemmy.dbzer0.com 1d ago

If you have money in the SP500, you own Tesla stock

Title. It occurred to me that despite not wanting to support musk or some other American businesses because of their recent change in policies, I'm still holding a stake in those companies.

28 comments

I'm fine with that, if Tesla keeps sinking the S&P will have to drop it from the index.
You can buy a share or two of TSLQ to hedge against TSLA while still holding your index funds
Yes, that is how index funds work. Tesla is apart of the index so you indirectly own shares in every S&P500.

You also have indirect shares in a host of other dodgy companies like Google, Meta, Amazon, Coco Cola, McDonalds, Pepsi, Disney

https://en.wikipedia.org/wiki/List_of_S%26P_500_companies
- A longer way of saying what OP said.
  
  Yes, that's is how addendums work. They elaborate on what has been said to repeat what was said in a more complete manner, sometimes with examples.
If it makes you feel better, you probably also hold a stake in their direct competition.
- A lot of their direct competition is not in the S&P 500 because they are not American companies. Hyundai, Volkswagen, Toyota, Nissan, BYD, etc. American automakers let the EV market languish so long that they are only now becoming legitimate competitors in that space
  
  VXUS might be a viable avenue to support Tesla's competition.
- Didn't know that you could own stock in antifa and Luigi Mangione
  
  Well to buy Luigicoin, its really simple: You go to a 50501 Protest, you give in your community, you join a community network, and you try to reduce your business with Amazon and other companies helping Trump.
  
  I'm sure there will be a Luigi coin any day now dont worry
For now....
Most people have money in the SP500 through their 401(k), sadly.
one of the reasons isn't tanking faster, comes bundled up in many institutional accounts, retirement accounts, etc
Sometimes you have to play the game even if you don't like it.
- Shorts over the last month would have been profitable
- "You gotta do what you gotta do", says the person tipping his hangman.
  
  "I knew I could vote for the mice, but the cat had the cheese", says the mouse.
  
  I’m too tired to manually index the s&p 499.
- I dont think I have to but its surely to my benefit. Classic case of greed vs values
If you'd like to hold a large cap blend that doesn't include Tesla, you might like VTV (Vanguard Large Cap Value ETF). I didn't see Tesla listed in it and I really doubt it's any of the 339 companies it holds.

Edit: I just traded all my retirement shares of VTI for VTV. Fuck Tesla. And Facebook. And Amazon.
For now anyhow...
American is kind of a central point for the market. Sure there are plenty of non American exchanges but if you want to do business with the "big boys" it is in New York.
One of the reasons I prefer something like the Russell 2000

28 comments