So I suppose at this point, we can just call it ‘lazy alpha’.
Everywhere I turn, people are talking about Amazon (AMZN). Or the latest Facebook (FB) news. Or Google … er … Alphabet’s (GOOG) earnings. I don’t have to worry about any of them. Because we are long all of them. By being long QQQ.
And spare me your ETF outrage. If you have not heard … some are outraged that ones are turning to the efficient Index ETF’s. I’ve been around long enough that I remember similar derivative outrage against the S&P 500 Futures. No, not the e-mini. The actual Spoos contract. Or should I say “Spu”‘s (those who understand, will understand). You know outrage against index futures used to actually ‘be a thing’. “What if this destabilizes the actual market because everyone just owns the more capital efficient S&P 500 Futures contract !!“. Yeah. I’m not kidding.
Please, go find yourself a new argument. I for one, could care less as I am long tech in a nice … lazy manner.