Tom Michaud

speaker

480 appearances 1 recordings 1 series first heard Jun 2026 last heard 3 Jun

Tom Michaud’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 — 1 in all, peaking in Jun 2026 with 1.

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So we talked about it earlier.

Once these companies go public, the index funds have to buy the shares.

So that's built in after market demand.

And it's just a dynamic that wasn't there 25 years ago.

But isn't that a red flag?

Well, so here's what I would say.

I think individual stock selection is very important and I would be cautious.

I mean, I'm a believer in diversification.

I think that investors should be cautious and not every one of them will work.

I'm not speaking about SpaceX in particular, but over the long run, there is risk in these offerings in the long run.

So it's a strong moment for tech.

I think the tech investors are very interested in this moment.

There's lots of fantastic results in the sector.

But there are many companies rushing to get to the market.

And over time, some will do better than others.

The markets are pendulums.

And I want to be careful because I'm not saying these stocks are overvalued.

They can absolutely go higher, okay?

But there's no question that this dynamic right now is extraordinary.

And the market is notorious for being extraordinarily positive and extraordinarily too cautious.

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