Look, I’m not saying people are stupid. Okay, maybe a little. All these index funds… it’s just…lazy. Researching individual stocks? That’s what I do. But fine. People want “diversification.” Like throwing darts at a board and hoping something sticks. But at least try to pick good darts. This whole ETF thing… it’s just simplified everything to the point of… well, it’s insulting, frankly. You’re just handing your money over and hoping someone else doesn’t mess it up. And then they charge you a fee for the privilege! It’s unbelievable.
Now, this Invesco QQQ Trust. (QQQ 0.31%). They try to make it sound so sophisticated. “Tracks the Nasdaq 100.” Oh, really? Like that’s some kind of genius idea. It’s just…a list. A list of 100 companies. And they’re all tech companies, mostly. It’s just…predictable. And they weight them by market cap. So the big companies get even bigger. It’s like rewarding success. What about the little guys? Don’t they deserve a chance? It’s just… unfair.
A Launch Timing Disaster, Honestly
The timing of this thing… it was awful. 1999? Right before the whole tech bubble burst? You’d think someone would have seen that coming. It’s like opening a beach umbrella during a hurricane. And then, when the bubble did burst, this QQQ thing got absolutely hammered. Eighty percent! Can you believe that? Eighty percent! It’s just… irresponsible. And then they expect you to just… hold on? Through all that? It’s infuriating.
And the companies that went under! WorldCom. Global Crossing. Metromedia. These were supposed to be the future! And they just… vanished. Because of “accounting irregularities.” “Fraudulent misclassifications.” It’s always something, isn’t it? And they expect us to trust these people with our money? It’s absurd. The whole thing is just… a mess.
But somehow, this QQQ thing survived. A few of the bigger companies pulled through. And a bunch of new ones popped up. And people started handing over more money. Because, apparently, they like losing money slowly instead of quickly. It’s just… baffling. I mean, they reward it. It’s like, “Oh, you lost a little money? Here, give us more!” It’s a racket, I tell you. A racket!
The Simple Reason? They Got Lucky.
Look, the Nasdaq 100 has done well. Okay, fine. But that doesn’t mean it’s going to keep doing well. It’s just… a coincidence. A temporary blip. And people are acting like it’s some kind of foolproof system. It’s ridiculous. They’re just riding the wave, and they think they’re geniuses. It’s just… arrogant. And then they charge you a fee for the privilege of riding the wave with them! It’s highway robbery, I tell you!
The next article in this series is going to talk about how much money this thing has made. I’m sure it’s a lot. But that doesn’t make it right. It just means people are easily impressed. And they’re willing to hand over their money to anyone who promises them a quick buck. It’s depressing, frankly. It really is. And I’m starting to think I need a vacation. A long vacation. Somewhere far, far away from all these ETFs.
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2026-03-05 20:02