[3eb7988a1663]

The only decision they are making is to maintain their existing rules. Which is what a slow-moving, conservative financial instrument should do.

S&P may very well end up buying SpaceX, but it will be through the standard mechanism they have been using for decades. Not in a last second bum-rush deal that NASDAQ made to grant special favors.

One year from IPO, the insider lock-up periods will have expired, so insiders who want to get out will have had an opportunity to dump their shares in a risk-based approach without a guaranteed payout from index funds.

[dash2]

Unfortunately, repeating the word “conservative” does not stop you from becoming the last buyer of overpriced stock, which others are buying exactly so they can unload onto you.

[3eb7988a1663]

The non-conservative approach would be to quickly change the rules to avoid missing the latest opportunity?

[dash2]

As I said, the indexes are stuck in a race to the bottom! I don’t like it either.