A trader at the New York Stock Exchange (NYSE) at Wall Street in New York City.
JOHANNES EISELE | AFP via Getty Images
A few weeks ago, two things happened which made me wonder whether we, meaning the management of the investment firm I co-founded, are deluding ourselves in continuing to compare our performance to the S&P 500 index. Honestly, we have never considered any other benchmark, as the S&P has represented, to us and our investors, a diversified portrait of the U.S. economy. However, perhaps we needed to rethink that premise.
First, several friends asked me if they should buy the same stock, Tesla. To call Tesla a strong performer is an understatement (It’s up 377% this…