Josh Brown

You don't have to worry about any of this.

It's just going to work out and the net result of the index is up.

That's great.

At the Vanguard event I was at, there was a reminder of that Bessem binder study where 4% of the stocks create all the wealth.

I mean, if half the stocks can't even keep up with treasuries, there's something similar here.

A lot of stocks just aren't that good, you know, and you have a couple that just drive the market.

This is why it is important, arguably, to market cap weight if you do index.

Equal weighting can be good at times, though.

You know, if you think there's going to be... I feel like every fourth year, the little guys have to catch up.

International has to catch up.

Yeah, I mean, I just did a note today looking at...

ARK, and if ARK had just let their winners run, NVIDIA, Bitcoin, Tesla.

That was good stuff.

It would have been the greatest active managing performance ever.

But they have a discipline rebalancing, like equal weighting.

You compared her to Baron.

Baron didn't.

Baron let Tesla take over the whole fund.

So Tesla was a 50% weighting at one point.

But Baron's up 750% in 10 years.