Money printing causes flight to assets.
50% of money flow is passive, meaning: it goes to the biggest companies just because they're already big.
This is what happens when you buy S&P 500.
50% of money flow is passive, meaning: it goes to the biggest companies just because they're already big.
This is what happens when you buy S&P 500.
December 28, 2025 at 4:49 PM
Money printing causes flight to assets.
50% of money flow is passive, meaning: it goes to the biggest companies just because they're already big.
This is what happens when you buy S&P 500.
50% of money flow is passive, meaning: it goes to the biggest companies just because they're already big.
This is what happens when you buy S&P 500.
YTD Mag 7 still beats the indices.
December 28, 2025 at 4:47 PM
YTD Mag 7 still beats the indices.
Nvidia has its moment, but if they fell 50% they wouldn't even leave the top 10 companies in the world. They're overvalued now. It's because over 50% of the money flow is passive: janklosowski.substack.com/i/177868202/...
Index Investing: When Everything is Better Than Dollars
The Good, The Bad, and the Ugly of Index Investing
janklosowski.substack.com
December 28, 2025 at 4:41 PM
Nvidia has its moment, but if they fell 50% they wouldn't even leave the top 10 companies in the world. They're overvalued now. It's because over 50% of the money flow is passive: janklosowski.substack.com/i/177868202/...
Another part of the story is the Mag 7 - they're the stocks going up, creating divergence on the chart. They're are the providers of the AI infrastructure:
- The Mag 7 is not hiring and investing in data centers and robots.
- Everybody else is firing, and paying fees to the Mag 7 for access.
- The Mag 7 is not hiring and investing in data centers and robots.
- Everybody else is firing, and paying fees to the Mag 7 for access.
December 27, 2025 at 8:15 PM
Another part of the story is the Mag 7 - they're the stocks going up, creating divergence on the chart. They're are the providers of the AI infrastructure:
- The Mag 7 is not hiring and investing in data centers and robots.
- Everybody else is firing, and paying fees to the Mag 7 for access.
- The Mag 7 is not hiring and investing in data centers and robots.
- Everybody else is firing, and paying fees to the Mag 7 for access.
Yes, I missed it. Apple, Cloudflare, Microsoft… they all started an active transition.
December 24, 2025 at 9:00 PM
Yes, I missed it. Apple, Cloudflare, Microsoft… they all started an active transition.
Doesn't sound crazy.
December 21, 2025 at 3:22 PM
Doesn't sound crazy.
You only need to know when it is ;)
December 19, 2025 at 5:16 PM
You only need to know when it is ;)