The Invesco QQQ Trust (QQQ) just hit a “record high.” Some might also call it an “all-time high.” It has never been higher. And while QQQ has undoubtedly been one of the best investments over time, this phrasing strikes me as hype, incomplete information, and encouraging excessive speculation.
As a reminder, I do not really care which way the stock market travels. I’m a risk manager and hedged investor. That means while the investment management industry tends to spend a lot of time capturing the moment, I take a different approach. I am simply trying to take it all in and determine the answer to this simple question:
