Some index funds are not obligated to perfectly replicate the index by buying shares, FXAIX (Fidelity S&P 500 mutual fund) has the option to use futures, swaps, options, and statistical sampling in addition to buying equity shares to try and replicate the returns of the index.
I’m going to start a charity that provides every billionaire with a 24/7 human assistant that follows them around and repeats the words memento mori out loud once a minute.
> Irrespective of whatever was going on in academia I take issue with this. Everyone who has a) a double digit number of brain cells b) has ever dealt with government approval in any capacity c) is't just a straight up liar knows that if the requirements set forth by a panel with discretionary authority says to do items 1-5 that you will not be approved without doing all of them, (unless of course you have the right last name or connections).
I regularly submit workforce participation plans for government construction projects that have minority and women labor hour goals with 100% white male labor hours and receive approval to proceed. Things are not as black and white in reality as the media has led you to believe. I deal with state and local municipal and county governments regularly, my state’s Dept of Labor and Industry does not care what your last name or company is.
>I regularly submit workforce participation plans for government construction projects that have minority and women labor hour goals with 100% white male labor hours and receive approval to proceed. Things are not as black and white in reality as the media has led you to believe. I deal with state and local municipal and county governments regularly, my state’s Dept of Labor and Industry does not care what your last name or company is.
"The regulatory framework works fine", says man who works at BigCo. JFC
You really think your state's department of whatever doesn't turn the screws a little harder on the smaller companies that have to just take it?
I'm perfectly willing to believe that the demographic breakdown of labor isn't something they care much about but literally everyone with a set of functioning eyes and ears in the construction industry has endless stories about having to jump through some stupid hoop that a more favored player didn't have to because of a capricious government official or group of them. It's kinda sus that you think that doesn't happen.
My net worth is close to 1M in the US and I can’t afford a $3000/month mortgage payment (median $450k house with 10% down). Well I could afford it but I need to max out my 401k so I don’t starve when I retire, and stocks don’t need maintenance, insurance, and property tax payments.
> I've done that math too and the other reality is that most of those costs are optional in the US.
It really depends on your situation. I am living alone in an apartment that costs 60% of the median rent in my metro area and my generous healthcare plan ($1500 deductible, $3000 max OOP) is fully paid by my employer, short and long term disability insurance paid for by my employer, and my car will be paid off in 3 months. I am able to save around half of my income, but my sister and BIL have three kids and a house and they spend almost all of their money. Their combined income is probably 2.5-3x of what I make, but by myself I have a higher net worth than them. They’ll probably surpass me in net worth once they can stop paying for daycare and get their student loans cleared, they just have a lot of expenses I don’t.
I work in the construction industry, you did not ask the LLM the right questions.
1) is already the way residential construction works. Conduit isn’t used in homes aside from Chicago and a handful of other jurisdictions but all conduit can be cut with a sub $500 tool called a portaband. Plumbing pipe can be cut with a portaband. There are multiple power tools that can be used to cut sheet metal. Fittings for the electrical, plumbing, and HVAC trades are commoditized and standardized.
2) Drywall and drywall finishing is the cheapest labor on a building site aside from the cleaners and maybe the insulators. The framers, finish carpenters, equipment operators, flooring workers, and MEP trades all make more than the drywallers, mudders/tapers, and painters.
3) Raised seam metal roofs are great and last longer than asphalt shingles, but it’s more expensive up front.
4) Solar roofs have far too many terminations/connections to be reliable, the upfront cost may possibly never be paid back. That could change, but it’s a tricky problem.
> That leaves the foundation + architecture / engineering work as the hard part. Most of the design work for that stuff could be automated. Let the homeowner and builder boss an LLM around, and then run the LLM output through code compliance + simulation gates. The latter is really important because most local code is hazard or climate dependent, and having good deterministic vetting of designs would let the construction process apply to multiple climates.
The architect and engineer design the construction documents to adhere to the codes in the jurisdiction the structure is being built in, no LLM needed. Most jurisdictions just adopt one of the standardized codes for general code like the IBC and then various trade codes like the NEC.
Things like roof load calculations for areas with snow make designing a house that works in both California and Minnesota not worth it unless you want to overengineer your roof for California.
There’s an entire massive industry focused on shaving costs to increase margins that have been working on these problems for a long time.
That’s what I’d expect for a country that imports all of its oil and a country that produces more oil than it uses, especially considering the oil importing nation is an island 1/25th the size of the oil rich country, making dense rail transportation easier.
I’d love if the US had better public transport and I could get rid of my car, it costs more per month than my housing (which is admittedly cheap)
I think the US is still a crazy outlier regardless of how much oil they produce.
They use double the oil of the entire EU despite having half the population.
Triple the usage of ASEAN despite having a little less than half the population.
Five times the usage of India despite India having four times the population.
I believe personal transportation is something like half of all oil use globally last I checked.
I don’t even think it’s about getting rid of your car entirely, it’s about a wild amount of dependence and a crazy economic incentive system where a 20mpg work truck has been the most popular vehicle in the country for decades. 100% of trips taken per week needing a car is a big consumption difference than 70% of trips taken per week needing a car.
The police are under no obligation to provide service to specific people or businesses, only the public in general. They don’t even have to say “This is a civil matter”, they could just say “Eh, this doesn’t interest us, good luck with that.”
I think you meant ESOP (Employee Stock Ownership Program), not ESPP. I work for a 100% ESOP company and it’s been very beneficial to me and also the former owners were able to cash out without selling to the devil.
An ESOP is where a portion of or an entire company is sold to the employees. Our company took out loans to acquire the shares from the former owners and shares are disbursed to employees yearly instead of purchased by employees. It took 5 years to fully buy out the former owners, so we’re a 100% ESOP now and we just finished paying off the loans taken out to buy out the former owners.
An ESPP just gives employees of a company the option to buy shares at a discount.
You are correct ESOP was what I was thinking of. Thank you for the correction. Worked great for Bob’s Red Mill I believe. Glad to hear it’s been a success for you and your company.
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