>>20726021>>20726034Because people would have been buying those companies anyway.
I think you have fallen into a fallacy here. You are assuming Indexes are a modern phenomenon. When they have been around for hundreds of years.
See back in the day people would buy funds through a brokerage. These funds would be picked and managed by a fund manager. Peter Lynch was one of there. The issue is most of these fund managers weren't very good and wither underperformed, scammed people or got heem'd.
But to think index funds are a modern conception or that people wouldn't just buy the top 10 performing stocks without indexes is really stupid.
The reason people started buying into Indexes like the S&P is because it is barely managed in the first place and they were already going to buy most of the companies anyway.
SPY and VOO didn't pump the fuck out of NVDA. People buying NVDA pumped NVDA.
