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S&P 493 (non-Mag7 S&P 500)

privateBearish

The 493 S&P 500 constituents excluding the seven largest mega-cap technology companies.

1 take · first discussed Jun 21, 2025

Net conviction
Bearish
Who's weighed in
Friedberg
Takes
1
First discussed
Jun 21, 2025

Private company — no public price to score. We track what they said; valuation-mark tracking is on the roadmap.

Where they stand now

FriedbergFriedberg
Bearish

Friedberg suggests going short the S&P 493 and picking a few AI winners is now a viable trade, arguing it's the first time in 20 years that transformative disruption creates a clear dispersion opportunity between AI winners and laggards in the broader index.

E232 · Jun 21, 20251 call ↓

The discussion

The sole view represented comes from Friedberg, who holds a medium-conviction bearish stance on the S&P 493 as of mid-2025. His thesis is that AI-driven disruption is creating an unusually wide dispersion between a handful of clear winners and the broader index, making a long/short trade — short the S&P 493, long select AI winners — viable for the first time in roughly 20 years. No other hosts provided views on this basket, so no agreement or disagreement can be noted across the group.

How they got there

FriedbergFriedberg1 mention since Jun 21, 2025
BearishE232Jun 21, 2025📌 scored call⚑

Friedberg suggests going short the S&P 493 and picking a few AI winners is now a viable trade, arguing it's the first time in 20 years that transformative disruption creates a clear dispersion opportunity between AI winners and laggards in the broader index.

I think it's the first time you could probably argue that you could go short the S&P Yeah, and pick a couple of winners... I do think that this is such a transformative moment that if you really have a sense for what's possible, you could”1:19:41
iAbout these quotes
Quotes are machine-transcribed from the episode audio — use the Listen links to verify any take against the source, or the ⚑ link to report a problem. Takes marked unverified, low-conviction, or commentary-only never move stances, the index, or the funds.