Paid in Eggs
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What is the main topic discussed in this episode?
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Katie, I met your mom yesterday.
Yeah, you did. That's so crazy.
I went to your work baby shower.
Yeah. It was supposed to be a surprise, but- Yes, you were unsurprised. I figured it out. You have methods of- I do. I do. I love knowing things, so I try to just accumulate knowledge. So I did, unfortunately, spoil the surprise for myself. But they brought in my mom, which was really nice. She met Matt, which was really exciting for her. You keep circling around Greifeld members- who aren't my dad, and my dad is dying to meet you.
Okay, okay. Maybe I'll meet him at your other baby shower.
Are you actually going?
No, it's too far into New Jersey, and I have too many children.
God, that was a cruel tease. I know that my mom complimented your voice.
Yes, she did to me. That's good. And I said to her, the reason this podcast exists is because enough people are like, you have a great voice for a podcast.
Yeah.
I was like, oh, I better do a podcast. And now here we are. Here we are. Years later, doing a podcast.
I know. God, it's such a full circle moment. I'm having a real, like, supply chain day. Oh.
Welcome to Odd Lots.
Like, if one thing goes wrong, then everything else goes wrong.
Oh, my God. No, I'm not, like, thinking deeply about... Transporting goods through the Strait of Hormuz?
I mean, actually, that I should think about a little bit.
What's gone wrong?
Nothing so far. So maybe this is the thing. It's just a lot of events stacked on top of each other. Let's start the thing that's going to derail everything for me. And that's this podcast.
Set ourselves up for failure. Hello, and welcome to the Money Stuff podcast, your weekly podcast where we talk about stuff related to money. I'm Matt Levine, and I write the Money Stuff column for Bloomberg Opinion.
And I'm Katie Greifeld, a reporter for Bloomberg News and an anchor for Bloomberg Television.
Should we just get Elon out of the way?
What personal stories open the episode (Katie's baby shower and banter)?
Yeah, let's Elon it up.
Who else is getting Elon out of the way?
Potentially, a pair of ETFs.
A pair of ETFs. I've been banging this drum for a while that everybody complains about SpaceX joining stock indexes, like a lot. This stuff comes up occasionally, but I've never really seen it to this degree of fervor. People are really, really mad about SpaceX joining the NASDAQ 100 index. They're really mad about the possibility that it might turn the S&P.
It's a little bit beautiful. Like this is the most the general public has ever cared about index technology.
Yeah, I know. Right.
It's nice.
And it's so strange because it's like, I'm really mad that they changed their rules to allow SpaceX in, which, you know, and that's like sort of did and S&P thought about doing that and didn't do.
But C. Russell also did.
Yeah. People got really emotional about the sanctity of index constitution rules. What a time. To me, it seemed like, okay, this is a giant company, and we're a big index that represents the giant companies in the world. And if the giant company doesn't get into the index because of our rules, yeah, maybe we should tweak our rules. I think it's a reasonable thing. for the index providers to think, but nobody else thinks that.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–3:13
2
What personal stories open the episode (Katie's baby shower and banter)?
3:13–9:35
3
How did ETF filings propose 'No Elon' index options and what do they mean?
9:35–11:50
4
Why are investors upset about SpaceX and index rule changes?
11:50–19:17
5
How might 'No Elon' ETFs perform compared with the original NASDAQ 100 or S&P 500?
19:17–33:51