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cover of episode Talk Your Book: A Short History of the Nasdaq 100

Talk Your Book: A Short History of the Nasdaq 100

2025/2/17
logo of podcast Animal Spirits Podcast

Animal Spirits Podcast

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B
Ben Carlson
一位专注于投资教育和策略的金融专家,通过博客和播客分享投资见解。
E
Emily Spurling
M
Mark Marex
Topics
Ben Carlson: 我认为纳斯达克100指数自2009年金融危机以来增长显著,已成为重要的投资基准,许多投资者将其作为核心持仓。其增长速度惊人,从800点左右涨至20000多点。 此外,我还注意到纳斯达克100指数的构成在过去几十年发生了巨大变化,科技公司占比大幅增加,这使得预测类似于互联网泡沫的崩盘变得更加复杂。如今的科技公司更加成熟,高质量,与1999年的公司截然不同。 Emily Spurling: 纳斯达克100指数最初旨在代表选择在纳斯达克上市的公司,但如今已成为21世纪经济增长的基准。其简单的规则使其与其他市场指数有所不同。选择在纳斯达克上市的公司代表着增长、前瞻性和市场颠覆性。纳斯达克的品牌形象和与之相关的资产管理规模,吸引了公司选择在其上市,并能获得被动资本的注入。 此外,纳斯达克100指数的调整机制,每年进行一次调整,根据市值排名选择前100家非金融公司,并有防止过度集中权重的机制。 纳斯达克100指数与标准普尔500指数有所不同,它主要代表大型成长型公司,而非广泛的市场指数。 Mark Marex: 纳斯达克100指数的科技公司占比长期维持在50%到60%之间,这与科技行业的发展密切相关。公司选择在纳斯达克上市,部分原因是为了提升品牌形象,被视为具有前瞻性的公司。 纳斯达克作为全球首个全电子股票市场,其技术领先性和创新性吸引了众多公司上市。纳斯达克100指数采取多种限制措施,以防止个别成分股或整体权重过度集中,例如对权重超过一定比例的股票进行调整。 纳斯达克100指数对新上市公司有三个月的观察期,之后才能纳入指数。纳斯达克100指数的波动性在过去有所降低,因为其成分公司规模更大、更成熟。 我们通过研发支出和专利申请数量等指标来衡量纳斯达克100指数的创新性,这些公司在研发上的投入远高于其他美国大型公司。

Deep Dive

Chapters
This chapter explores the initial reasons behind the creation of the NASDAQ 100 index in 1985. It highlights its unique structure compared to other indexes and its evolution into a benchmark of the 21st century, representing growth and forward-thinking companies.
  • The NASDAQ 100 was initially designed to represent companies listed on NASDAQ.
  • Its creation was related to a sister index focused on financial companies.
  • The index has evolved to represent growth, forward-thinking companies, and a benchmark of the 21st-century economy.

Shownotes Transcript

On this episode of Animal Spirits: Talk Your Book, Michael Batnick) and Ben Carlson) are joined by Emily Spurling, SVP, Global Head of Index at Nasdaq) and Mark Marex, Senior Director of Index and Research and Development to discuss the original inception of the Nasdaq 100, understanding tech exposure within the Nasdaq 100, why Nasdaq is winning the listing race, why companies enter and exit the index, thinking about the dot com bubble and the Nasdaq 100, and much more!

Find complete show notes on our blogs...

Ben Carlson’s A Wealth of Common Sense)

Michael Batnick’s The Irrelevant Investor)

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Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed.

 

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