Gemma Dale
speaker
925 appearances
2 recordings
2 series
first heard Jun 2026
last heard 18 Jun
Gemma Dale’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.
Appearances
So it creates risk even if your fund is not actually an index fund.
even if they are active.
Active managers have to keep an eye on the benchmark that they are benchmarked to.
I'm repeating myself.
If the benchmark is relevant for your fund manager, then you have to think about it as well.
So for a lot of people, suddenly this is really important, unless you've explicitly chosen to have the S&P 500 in your fund, in which case you're good.
There you go.
The last couple of decades have been fascinating on that basis.
Actually, I'm going to talk later about what's happened in markets.
Profitless growth was the trade for a decade or more coming out of the GFC, right?
That was where you wanted to be.
You wanted to be in the hyperscalers that started off with straight up profitless growth, right?
That's what they were doing.
Capital was very cheap.
You just plowed your money into positive jaws at one point, but they started off the other way around, right?
Negative jaws.
Your expenses were growing.
That was fine because your customer base was growing and growing and growing and growing, and at some point you were going to start charging them a reasonable amount of money, but you had such extraordinary market share and you were so deeply embedded in corporates' and individuals' lives that you were going to become profitable.
Tesla's the interesting one, right?
It's a car business.
Showing 81–100 of 925 · page 5 of 47
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