Jim Grant on the AI boom: “I think that today is one of the greatest bubbles of all time.”

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How to kick SpaceX out of your retirement savings account โ€” โ€œRight now, just a handful of A.I.-related stocks represent almost half the value of the total stock market index. If A.I. stocks collapse, so will the worth of your index fundโ€: economist

“If you have a 401(k), thereโ€™s a very good chance that at least some of your money is in an index fund, a type of mutual fund that mirrors the composition of major stock markets including the Nasdaq. And that means that at some point, your retirement savings will be invested in SpaceX โ€” no matter how you feel about it or its founder, Elon Musk.

It could be soon. In May, after the companyโ€™s request to be listed, the Nasdaq unveiled a rule change that allows SpaceX into its index soon after its Friday initial public offering. (The S&P 500 is requiring the company to wait at least a year.)

Given that so many millions of Americans are suddenly having SpaceX shares foisted upon them, I understand why some financial experts are criticizing the practice of index investing itself. Right now, just a handful of A.I.-related stocks represent almost half the value of the total stock market index. If A.I. stocks collapse, so will the worth of your index fund.”

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