The email I get most is from young men looking for guidance and mothers looking for guidance

for their sons.

The second most frequent email is the following.

Is it too late to invest in invidia?

And the honest answer is I don't know.

I can imagine a scenario where it gets cut by 80 percent.

I can imagine a scenario where it tri cut by 80%. I can imagine a scenario

where it triples. So this is what you do. You invest in SPY because about 20% on the dollar will go

into the magnificent seven because they're about 20% of the market cap of the S&P. SPY is, again,

a basket of different stocks. It's a index fund that mimics the S&P. So there are 500

companies in the S&P. Invidia is probably three or five percent of the total value of the S&P. So

five cents on your dollar goes into invidia, right? About 20 percent, is that right, 24, 25 percent,

is the magnificent seven, the tech companies we talk about.

25 cents on your dollar will go to them.

So assume those companies double.

Great, you participate.

But assume the other 493 companies finally get their time in the sun and those companies go down a half.

You're still fine.

You're still fine.

Again, you don't need to find the needle in the haystack

and stop believing in a very American way that you can figure it out. I know the brightest

people in finance. And my net conclusion is that none of them have any fucking idea.

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