SPY is the ETF for the S&P 500 at 1/10 the value. It is sometimes called the SPDR for Standard & Poor's Depository Receipts, but after this first one, there are now SPDRs for other segments such as Mid-Cap stocks. SPY is the one for the S&P 500. It is often the most actively traded security.
On 11/9 it traded 277,731,444 "receipts" on the American Stock Exchange, and was 2nd in volume, topped only by QQQQ.
But I believe you know that.
You believe I knew what the SPY was, but pretended not to know? What do you mean? Why would I do that?
If I were you, I would have just written the S&P instead of SPY. We call the S&P the S&P where I work. We don't discuss this SPY, but now I understand what he meant....
And I guess his point is that since the S&P is unlikey to decline by 10% in a year, then the same can be said about CSCO stock. That, obviously, is wrong, but I guess that's his point. Actually, who knows? |
