Chris Brycki

speaker

759 appearances 3 recordings 2 series first heard Mar 2022 last heard 30 Jul

Chris Brycki’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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The Money Puzzle · Mega floats, market froth, and whether investing in SpaceX risky or smart · 11 Jun 2026 podcast

That money needs to come from somewhere and the cash allocations of index funds are negligible and for active managers are very low.

So they need to sell other stocks in order to buy SpaceX and eventually Anthropic and OpenAI.

So it's going to put pressure on share prices.

We see a similar thing happens in Australia if there's a big float coming up, which we haven't seen a lot of recently, but even a big placement happens.

Let's say a big gold stock does a big placement.

You often see the funding coming from other gold stocks.

So you'll see other gold stocks selling off before that placement happens.

I think from a portfolio perspective, Juliana, it's hard to not have a position in a stock that's such a big part of the index.

But the caveat to that is if I was running one of the index providers, I wouldn't be changing the rules to allow it to come into the index earlier.

And so I think having a good 12 months to find its feet and work out how the market values it is a safer option for index investors is to basically buy it after it's been listed and after it's found its feet and

I think it can potentially benefit both.

Absolutely, it benefits SpaceX because it creates this big amount of passive buying, but it's not only passive buying.

I think this is the important point.

If you're an active manager and you're benchmarked against the index and SpaceX is in the index, there's a big risk if you don't own it as well because you could easily lag.

And we talked about those two Korean companies having such a big impact on the index.

Because there's got to be about something like $14 billion of buying, that's obviously great aftermarket support of the stock.

So it makes sense for SpaceX.

I mean, for a NASDAQ, I guess if you're sitting in their shoes, you're competing against a lot of other index providers, and you know that a lot of retail investors will be interested in this.

So maybe it gives you a competitive advantage to have SpaceX included earlier.

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