\n
I just invested in the most overvalued piece of junk going around:<\/p>\n
Elon\u2019s latest trillion-dollar trouser-tickler, SpaceX.<\/p>\n
I didn\u2019t have a choice. My index fund bought it for me. Automatically.<\/p>\n
Because that\u2019s what index funds do. They buy a tiny slice of the biggest companies, and SpaceX just elbowed its way into the club.<\/p>\n
And … I really don\u2019t care.<\/p>\n
Now, you may think old Barefoot has foot fungus.<\/p>\n
After all, the media has been warning us of the impending DANGER:<\/p>\n
\u201cElon Musk is about to change everything we know about the world of finance in a move experts say will expose millions of Aussies to a new level of risk.\u201d<\/p>\n
\u201cExperts warn we\u2019re entering \u2018dangerous, dangerous territory\u2019 as the potential concentration of wealth could impact 17 million Aussies.\u201d<\/p>\n
\u201cSpaceX risks leaving index fund investors with heavy losses.\u201d<\/p>\n
So. Much. Clickbait.<\/p>\n
Honestly, I\u2019m so tired of every bloody article being lipsticked with urgency, fear and stress.<\/p>\n
So, calmly, the question you want to know is this:<\/p>\n
Am I an idiot for investing in a simple, low-cost index fund that buys SpaceX just because it\u2019s a certain size, without even thinking about how much of a stinker this investment could be?<\/p>\n
After all, the company lost almost $US5 billion last year. In the first three months of this year alone, it burned through another $US4.3 billion.<\/p>\n
That\u2019s the boring numbers stuff buried at the back of the prospectus that only weirdos like me read.<\/p>\n
The cool stuff is all the phallic full-page pictures of rockets, and their ballsy aim of the \u201cestablishment of a permanent human colony on Mars with at least one million inhabitants\u201d.<\/p>\n
Men are from Mars. Elon is from Uranus.<\/p>\n
Now, here\u2019s the bit the headlines forget to mention.<\/p>\n
I called Vanguard and asked them what proportion SpaceX would make up of my international index fund.<\/p>\n
\u201cWe expect it to make up somewhere around 0.06 to 0.08% of the index\u201d, they said.<\/p>\n
Let\u2019s put that in perspective.<\/p>\n
If you have $1,000 invested in an international index fund, your holding in SpaceX comes to:<\/p>\n
60 cents.<\/p>\n
Sixty.<\/p>\n
Cents.<\/p>\n
That\u2019s what all the fuss is about.<\/p>\n
Yes, SpaceX looks wildly expensive. Yes, AI is being hyped to the heavens. But my index fund owns more than a thousand companies alongside SpaceX and automatically trims the losers.<\/p>\n
You know what I love more than spaceships?<\/p>\n
Beating the experts who feed the media these headlines.<\/p>\n
The annual SPIVA report scores every active fund manager in Australia against the index. Last year, 74% of them lost to it. Over fifteen years, 87% lost to an index fund. Nearly nine in ten.<\/p>\n
The people screaming loudest about the danger of index funds all want the same thing:<\/p>\n
Your money. Don\u2019t give it to them.<\/p>\n
If SpaceX blows up, I lose sixty cents. I\u2019m comfortable with that trade.<\/p>\n
Tread Your Own Path!<\/em><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"I just invested in the most overvalued piece of junk going around: Elon\u2019s latest trillion-dollar trouser-tickler, SpaceX. I didn\u2019t have a choice. My index fund bought it for me. Automatically. Because that\u2019s what index funds do. They buy a tiny slice of the biggest companies, and SpaceX just elbowed its way into the club. And […]<\/p>\n","protected":false},"author":1,"featured_media":7029579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[10055,18923,11044,13177,35182,19902],"dealstore":[],"offerexpiration":[],"class_list":["post-7029578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-barefoot","tag-elon","tag-invested","tag-investor","tag-musks","tag-spacex"],"yoast_head":"\n
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