Programming note:
Money Stuff will be off for a few days, back next Wednesday, Sept. 8.
GameStop and the S&P
Every so often a weird stock goes up a lot, and it becomes so valuable that it qualifies for the S&P 500, the main index of U.S. large-cap stocks, and then people write articles that are like “oh no all the index funds are being forced to buy this weird stock at a huge valuation that makes no sense.” This does not bother me very much: The whole point of an index fund is that you buy all the stocks at ...