Proof that inherent market efficiency is bullcrap if we need popular sentiment to get companies excluded for being obvious grifts.
Proof that inherent market efficiency is bullcrap if we need popular sentiment to get companies excluded for being obvious grifts.
> if we need popular sentiment to get companies excluded for being obvious grifts.
I don't understand this argument.
SpaceX is not being "excluded" for any exceptional reason.
S&P has stated, essentially, that SpaceX will be subject to the same INclusion rules as other companies. When (if!) SpaceX has a series of profitable quarters and reaches 50% free-float market cap, it will be included in the S&P 500 index like other companies are. https://news.ycombinator.com/item?id=48414252