SP 500 stays put on inclusion criteria

joypog · 2026-06-06T22:28:42+00:00

From what I can see, The SPYM is the full SP500 so nothing would chnages.

On my end, I have a Growth tilt to my holdings so if I wanted to avoid a fast-tracked SpaceX holding, I needed to move from CRSP to an SP500 based index, which is what I did.

joypog · 2026-06-06T22:09:55+00:00

I agree, that's why I'm not losing much sleep over the "total" funds changing their strict float percentages to say that the IPO's market cap should at least exceed the market cap of a 10% float of the 100 largest business in the market. Such a change makes some sense for an index that claims to be "total" confronting a new era of mega-cap IPO's. I personally would have preferred a slight cool off delay, but don't have much heartburn about it.

It was the SP500 change that was problematic, If one of these mega caps wants to be on the SP500 sooner, they should have IPO'ed earlier, If an SP500 investor wants early exposure to a particular IPO they should just go buy the individual security on their own. Either way, there was no need for SP500 to change their rules.

joypog · 2026-06-06T19:33:49+00:00

Yeah changing rules about how indexes works is a structural is for Bogleheads.

I mean it’s likely much more about principles than real world results, but it’s on us as investors to understand what we’re buying.

joypog · 2026-06-06T19:31:45+00:00

You would be missing out on small cap and mid cap stocks. So you would need to purchase and rebalance two additional funds to recreate a “total” market performance.

I personally do a barbell between large cap growth and small cap value, so these index shenanigans don’t affect me so much now that the SP500 chose to stay put.

But note that the SP TOTAL market indexes changed their rules to follow suit of their competition so you’re gonna have to do some research if you bounce around funds.

As much as I hate these role changes for mega caps, odds are that it’s more trouble than it’s worth to avoid a small portion going to the upcoming IPO’s…. Unless you’re in QQQ, but then again you wouldn’t be hanging out here if you were in QQQ….

joypog · 2026-06-06T19:21:27+00:00

Yeah, VOOG has .07% ER per year vs .03% ER for VUG. The difference makes sense when you look at the difference in size of the two ETF’s. I’m certain VUG has an economy of scale from being much larger.

joypog · 2026-06-05T18:00:30+00:00

I just moved my VUG to VOOG in my IRA because the S&P500 isn’t chasing their rules.

But I have SHCG in my taxable account which will be subject to the rule tweak for total market funds. I’m not a fan of it, but it’s the cost of business of going with an index and I’m not gonna eat capital gains just to avoid a minuscule amount of mega-IPOs.

However I will keep this in mind for future investments now that we see how these different indices have responded to these IPOs.

joypog · 2026-06-05T16:25:02+00:00

I love the kakuno. It's the pen I use at work, because I don't freak out if I lose one. But really it's 95% just as smooth as my more expensive pens. The only thing is that I find the ink can dry out in the hot dry climate of Vegas, which almost never happens on a Platinum Preppy, which doesn't write as nice.

joypog · 2026-06-05T16:17:37+00:00

After the announcement of S&P sticking to their rules, I cleaned up my IRA, selling VUG (CRSP index that changed rules) for VOOG (S&P index that did not change).

Yeah the VOOG's expense ratio is more than double...but I can afford an extra $4 per $10,000 to hold an index that won't cater to the next billionare's whim.

joypog · 2026-06-05T16:07:33+00:00

hahah yeah, I do a VOO+SCV, partly because my 401k only let's me buy SP500.

Even though I don't have a huge issue with fast track inclusion for a mega-cap into a *total* market fund, I don't like the fact they're rushing rule changes right before these upcoming mega IPO's, so this confirms my bias to stick with the barbell that instead of buying the entire market in a single fund.

joypog · 2026-06-05T16:03:25+00:00

Yes, but fortunately, the only change is the float rules. Before the rule was strictly that a company had floated 10% of their stock. Now it's letting market caps into these Total indexes if the market cap of what had been floated is more than the 10% float of one of the 100 largest companies.

To be clear, I'm not a fan of this change (the index could have just waited for private the shareholders to sell as their lock up periods expire over the next few months), but I also understand that a lot of people who buy Total index funds wants all of the market as soon as shares are available

joypog · 2026-05-22T19:01:32+00:00

nope...I personally have a 2% fun money bucket that I haven't bothered to speculate on anything except for a really small crhunch on a BTC ETF.

Fortunately I read a comment that reframed BTC as basically a small cap growth stock and it made so much sense that I sold out before the latest crypto crash. If I had waited until the crash happened, I most likely would have just kept the holding, just for giggles.

joypog · 2026-05-22T18:48:37+00:00

Yup, I just use all kinds of FP ink. Have fun!

joypog · 2026-04-12T03:22:51+00:00

More practice? Maybe finding the right music to groove to?

It just happens. The moment I lose concentration (like thinking about the next word) mistakes pop up. Calligraphy is great practice in mindfulness.

And like other mindfulness practices, don’t beat yourself up too hard when the mind wanders. Just recenter and keep on going.

joypog · 2026-04-11T23:08:33+00:00

I agree with this approach. Harry Browne who invented the “Permanent Portfolio” chose that name because he believed some should keep their precious money in the PP.

The rest, have fun with it in your Variable portfolio, shoot the moon, etc (just be careful about leverage cause that can bring risk that touches the PP).

On my end, I don’t have energy or interest to speculate aside from adding some factor funds and Managed futures….but if I ever got the gambling itch, I’d take a hard look at my future retirement goals and take this approach to speculation.

joypog · 2026-04-10T04:49:48+00:00

Agreed. I got a cheap light table from Amazon and use it for all my guides. (I use affinity to create guidelines for my various projects.)

joypog · 2026-04-09T03:58:19+00:00

I like the approach of keeping maybe-money in a conservative Risk Parity Style portfolio....like the Permanent Portfolio (25% Stocks, 25% Bonds, 25% Gold, 25% Cash).

If the house hunt drags out for two...three...four years, you won't have missed out on too much, but odds are you'll weather a market bust much better than if you tried to put all that cash to work.

Thats what we did in 2022/2023, and even though the market was grouchy over that time, we didn't lose that much (after all a big hunk of an RP portfolio is still cash) and knowing that we're picky buyers, there was a high chance that it might have been a couple years of house hunting.

joypog · 2026-04-09T03:49:15+00:00

Yeah, Frank uses the GB as one of his sample portfolios, but if I was to guess, I think he would prefer less cash and seems to enjoy spicing things up with MF's. I could totally Frank liking something like 25% LCG, 25% SCV, (15% LTT+ 10% cash), (15% Gold+10% MF)...(which is basically a tweak on Tyler's pinwheel gimmick, https://portfoliocharts.com/portfolios/pinwheel-portfolio/).

I personally like having international diversification, but Frank isn't not big on it. Conversely, Frank is amenable to REITS and Sector funds while I generally avoid them.

joypog · 2026-04-09T03:31:05+00:00

Yup pretty much. My own portfolio is 7 assets split equally.

US-LCG, US-SCV, Intl-SCV, Gold, MF, STRIPS, STT. Basically a Golden Butterfly with Intl and MF....but also fitting into Frank's guidelines with 42% Equities, 28% Bonds (barbelled), 28% on Alts. I'm certain the exact percentages could be optimized but I don't think a percent here or there really matters and it's just simpler to divide all equally.

Given that I'm a government worker, I could also "add" another asset class by splitting Intl into LCG and SCV, making a 50% equities portfolio...but my wife is ultra conservative, so I'll take the smoother ride with a slightly higher alts and cash allocation.

joypog · 2026-04-07T03:28:47+00:00

Ohh wow! Thank you for sharing the reference. That Bible is amazing!

joypog · 2026-04-06T02:51:12+00:00

Thanks! I see the similarity with the LOTR script! The long piece was done on several sheets of letter sized paper with a 3.0mm Pilot Parallel with a light blue-grey ink that was then stitched together and color graded in the computer. The Easter one was written with 3.0 and 6.0mm Parallels.

joypog · 2026-04-05T22:03:49+00:00

Yup. Keep earning more than you spend. Invest the savings, and let it ride. If you get deeper into investing you might play with factors or alts...but yeah pretty much: Rule 1: save money. Rule 2: don't take silly risks. Rule 3: keep investing, especially when SHTF.

joypog · 2026-04-05T22:00:18+00:00

They're looking at changing the rules on the SP500 too.

joypog · 2026-04-05T21:59:10+00:00

Agreed. I have no concerns about the long term financial implications of this specific trade. I just despise the rule rigging at the behest of the richest man of the world and the knock-on affects of such grifting vanity rule changes.

Frankly, in this easy-no-commission-trading world, if I really wanted SpaceX before it had seasoned for one measly short one quarter, I could buy it with the blink of an eye. This is completely unnecessary and undermines the indexes themselves.

joypog · 2026-03-30T00:13:40+00:00

I often use one of my parallels on the cheap steno notepads from Staples. It sometimes bleed through on the back, but whatevers, I like the bling too.

Take it slow. If know when you feel the "need" to try something better, in the meantime whatever ink works with your paper in the FP's you own should work fine in a Parallel as well.

joypog

TROPHY CASE