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...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Let’s look at the S&P then, right? So you’ve got to be big. You’ve got to be liquid for the S&P 500. You also have to have a certain number of quarters of profitability in order to get in....
...The S&P, as you say, is down 10 per cent from its peak in July. And yeah, valuations are a decent part of that right?...
...Cheryl Brumley is the FT’s global head of audio. Special thanks to Laura Clarke, Alastair Mackie, Gretta Cohn and Natalie Sadler. FT premium subscribers can get the Unhedged newsletter for free....
...So the equal-weighted S&P 500....
...So I think I’m a great S&P 500 tracker fund guy....
...Ethan WuAnd just to put a finer point on it, the point here is it’s not enough to just look at headline p/e for the UK, headline p/e for the US and say, well, golly, there’s a huge discount here....
...So another way to look at it is by looking at the S&P 500 Equal Weight, which treats all 503 companies in the S&P 500 as equal instead of overweighting Apple and Microsoft or whatever....
...This article has been amended since original publication to correct Mark Holman’s job title...
...Cheryl Brumley is the global head of audio. Thanks for listening. See you next week....
...Cheryl Brumley is the FT’s global head of audio, and our theme song is by Metaphor Music. [MUSIC PLAYING]...
...The S&P is off 3 per cent. That’s not a sell-off, right? That’s caution....
...(Robert laughs) So the S&P is up about 10 per cent this year. Some of the Mag Seven are up even more. Nvidia up almost 100 per cent, Microsoft chugging along, Alphabet....
...Inflation is down, jobs are up, and the S&P 500 is continuing its joyride. And that must mean that voters are feeling pretty good about President Joe Biden, right? Right?...
...Robert ArmstrongI’ve got the obvious one, the S&P 7 versus the S&P 493. That is the Magnificent Seven versus the rest of the field....
...S&P 500. UBS isn’t even in the S&P 500. That was as wrong an answer as it is possible for a person . . . Katie MartinIt’s also not in the same category. And what are you talking about, Wu?...
...It’s got a pretty modest p/e ratio given how much profit growth it’s had, which is a lot. And the reason for that in part is it’s a competitive industry....
...Katie MartinOne little thought to leave you with here is yes, we’ve got all-time highs in the S&P 500....
...And Cheryl Brumley is the FT’s global head of audio. And finally, our usual disclaimer....
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