The actual benchmark that guides most investors' behavior is not a fixed index but rather 'the greater of the S&P 500 or whatever is in the news that's been working right now,' which changes based on what is currently performing best (Nvidia, leveraged MicroStrategy, etc.).

factualpending

Speaker

Jack Forehand

Evidence Quote

The Benchmark is the greater of the S&P 500 or whatever's in the news that's been working right now so for instance right now it might be the two times micro strategy ETF because that's doing better than the S&P 500

Source

Practical Lessons from Ben CarlsonExcess Returns
Created: 8/11/2026, 7:52:29 AM

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