Let's deconstruct how 'easy' it was to own these picks in 2016. 10yrs ago S&P 500's exposure to Tesla was 0%, Nvidia was 0.1%, Bitcoin was 0%. Netflix was 0.3%, even Amazon and Meta were only 1.4%.. so yeah having sizable allocations in all those names is pretty awesome picking and foresight. Hard to see how this is even a debate.

My guess is Nvidia at 0.1% of SPX is blowing your mind rn.. it's true it was the 249th ranked stock in the index 10yrs ago to the #1 spot today. Not only does this show why buying it 10yrs ago was a good pick but it shows why indexes do not control the mkt, active mgrs are why Nvidia went from 250 to 1 in 10yrs. The dog is wagging the tail.

@EricBalchunas Eric, Active money the past decade lost over $5T of AUM and has fallen to about 36% of AUM now. Actives sell $20B/mo of stocks due to redemptions. Passives by $60B. ETFs create/redeem >$1T/mo. $NVDA is in 955 ETFs. Actives don't wag anything but a finger at Passives.