Newly promoted editor-in-chief of The Investment Skeptic
Southern California
Joined September 2016
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Mike L retweeted
Stateside, a gas station. I drank a frozen blue beverage too quickly, and was struck down by a punishment this entire nation knows, and accepts, and has named.
The drink is called a slush. Ice, sweetness, and a blue that does not occur in nature. The day was hot. I was thirsty. I drank like a soldier at a river.
The pain arrived in my skull like a war horn.
Behind the eyes. Above everything. Total. I gripped the roof of my car. I may have made a sound.
"Brain freeze," said the cashier through the door, with no urgency whatsoever.
It has a NAME. The affliction is so common it has a household name, like a cousin.
"Tongue on the roof of your mouth," called a man at the pumps. He did not look over. He prescribed the remedy mid-pump, casually, the way one mentions weather.
I pressed my tongue to the roof of my mouth. The war horn faded. The healer nodded at his pump, finished, and was gone in a Chevrolet.
In my land, punishment follows crime by way of courts and seasons. Here, the sentence is instant. Drink with greed, and the ice strikes the mind directly. No trial. No appeal. Perfectly fair.
And here is what moves me. EVERYONE has felt it. The cashier. The healer. Children. Elders. An entire nation united by the same small lightning, all taught the same cure, all passing it on to strangers at gas stations, free of charge.
You cannot fully distrust a country once you know it shares one pain.
The freeze does not punish thirst. It punishes haste.
I finished the slush slowly, like a scholar. Blue tongue. Clear mind.
Then at the door I forgot everything, drank deeply, and was struck down again.
"Tongue, hon," said the cashier, without looking up.
Discipline is a journey.
Mike L retweeted
Wow, the S&P Dow Jones Indices has just officially announced that they will NOT be changing their inclusion rules to make it easier for โMegaCapโ companies (such as @SpaceX) to be fast-tracked into the S&P 500.
Their reasoning:
"S&P DJI determined that exceptions to the financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. The decision not to adopt the proposed exceptions preserves core index principles by maintaining consistent application of these key requirements. Although there may be trade-offs between strict adherence to these eligibility requirements and broad representativeness, the current methodology provides substantial market coverage and sector balance. As a result, the indices can continue to meet their stated objectives while preserving their role as representative and investable benchmarks for the U.S. equity market.
No changes will be made to the eligibility criteria including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600 as a result of the S&P Dow Jones Indices consultation on the treatment of MegaCap companies. Accordingly, there will be no changes to existing methodology for this index family."
This means that the earliest @SpaceX could be eligible to be added to the S&P 500 would now be June 2027.
The requirements that will now remain in place are:
โขย No changes to S&P 500 eligibility rules for mega-cap companies.
โขย Mega-cap companies will still need to wait 12 months after their IPO before being considered for S&P 500 inclusion.
โขย S&P will not waive profitability requirements for mega-cap companies. The company must have positive GAAP net income in the most recent quarter, and the sum of the most recent four consecutive quarters.
โขย S&P will not waive minimum public float requirements for mega-cap companies. At least 10% of a company's shares must be publicly tradable ("free float").
The S&P rejected proposals that would have:
โข Reduced the IPO seasoning period from 12 months to 6 months
โข Waived profitability requirements
โข Waived minimum public float requirements
Mike L retweeted
๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ข๐ง๐ ๐ญ๐ก๐ ๐๐๐ญ๐ฎ๐ซ๐ง ๐๐ญ๐๐๐ค๐๐ยฎ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ญ๐จ๐๐ค๐ฌ & ๐๐๐ง๐๐ ๐๐ ๐
๐ฎ๐ญ๐ฎ๐ซ๐๐ฌ ๐๐๐
โ ๐๐๐๐.
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Learn more atย returnstackedetfs.com/rsit.
Mike L retweeted
Imagining explaining to the Founding Fathers that the president imposed tariffs without an act of Congress and then removed them at the request of the King of England
Mike L retweeted
Bond Villain: "Press blue... or don't."
Me: "What if I don't?"
BV: "Nothing. You go home."
Me: "And if I press it?"
BV: "You die, along with everyone else who pressed blue, unless half of humanity also presses it."
Me: "But I can just leave?"
BV: "Correct."
Mike L retweeted
The Montreal Expos are exiting the baseball space. During Q2 and Q3 2026, we will transition to acquiring high-performance GPU assets. This is all part of our long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider.
Mike L retweeted
We're hiring.
3 years: $0 โ $1bn+ AUM. 7 ETFs. A category we're taking mainstream.
Now we need someone to help scale the advisor relationships that got us here.
Associate, Advisor Solutions โ internal sales, clear path to external. Remote.
If you've got distribution experience, know ETFs or alts, and want to sell something you actually have to understand โ link below.
Mike L retweeted
NEW COLUMN: Did everyone forget that Marco Rubio is the White House national security adviser? That means that more than any American official except President Trump, he's responsible for how the Iran war is going. So why is his political star on the rise? politico.com/news/magazine/2โฆ
Mike L retweeted
Boss man sent me a 4:45 PM Friday invite titled "quick chat."
I accepted, then proposed a new time of 8:00 PM
Wrote: "Apologies, buried today. Moved to a time that works for both of us."
He declined
Corporate life is so easy when you're playing chess while others are playing checkers.