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Let’s get ready to tumble! Come Monday, $TSLA enters the S&P 500, as the world is aware. This is the one you will tell your grandkids about, or at least the new crop of investors, wondering what the bubble of 2020 was like. Tesla can be your example of the insanity….1/ For all of the cost-saving benefits of passive investing, the Standard & Poor’s committee that actively chooses the components for its indices will prove why passive investors are the dumb money with this coming Monday’s inclusion of $TSLA into its venerable S&P 500 index. 2/ The committee is not known for a price consciousness. It chases what’s hot and eliminates from its august roster what’s not. 3/ ....
Order Reprints Print Article George Joseph, the chairman of Mercury General Corp., working in his office in Los Angeles in 2012. Jae C Hong/AP/Shutterstock At 90, Berkshire Hathaway CEO Warren Buffett isn’t the oldest major corporate chieftain in the country. That title probably belongs to the 99-year-old George Joseph, chairman and controlling shareholder of Mercury General (ticker: MCY). Joseph remains active at the California auto insurer, sharing the leadership reins with the CEO, Gabriel Tirador. Joseph might also be the world’s oldest billionaire, with a net worth estimated by Forbes at $1.6 billion. He founded Mercury in 1961 four years before Buffett took control at Berkshire and. ....