EPISODE · Jun 5, 2026 · 53 MIN
The Markets That Beat America Last Year | Marc Rudajev
from Rigatoni Capital Podcast · host Colin Santucci
Marc Rudajev of the Learning.Investing.Thriving newsletter on Substack is back on the Rigatoni Capital Podcast for round two. This time we cover three big themes: whether American investors are too US-centric in their portfolios, what the SpaceX IPO actually means for the average retail investor, and what Q1 earnings are really telling us heading into summer.On the international question, Marc makes the case that ten out of the twelve major European markets beat the S&P 500 in 2025, with Spain leading at 57% returns. European stocks quietly had a remarkable year and most US investors missed it entirely. We also break down the SpaceX IPO road show and what Bill Ackman's take on valuation means for retail investors. Note: this podcast was recorded on the morning of June 4th. That evening, S&P Dow Jones Indices confirmed it will make no changes to its megacap eligibility period, meaning SpaceX will not be fast-tracked into the S&P 500 and will instead wait the usual year or more before qualifying. The Nasdaq 100 path remains unchanged and SpaceX should still enter within weeks of listing. Someone who owns QQQ picks up SpaceX almost immediately while someone in the S&P 500 does not, and that gap could last a year or longer. On earnings, roughly 85% of S&P 500 companies beat estimates this quarter, the highest rate since the COVID period, with aggregate earnings growth near 27%. We close on behavioral investing and why the discipline to accept you missed something is worth more than any single trade.Check out Marc's newsletter Learning.Investing.Thriving on Substack: https://rudajev.substack.com/Rigatoni Capital is a daily morning podcast for long term, buy and hold investors. This is not a show for short term traders or people looking for quick wins. Every morning I go through the most important headlines in finance, markets, and macro, and call out fake narratives in the financial media so you know what actually deserves your attention and what to ignore.Subscribe to Rigatoni Capital on Substack: https://rigatonicapital.substack.comDisclaimer: This blog is for informational purposes only and does not constitute financial advice. All opinions are my own, and I am not a financial advisor. The information provided reflects my personal views and is intended to encourage discussion and thought among readers. Investments involve risk, including the loss of principal, and past performance is not indicative of future results. Always conduct your own research or consult with a qualified professional before making any financial decisions.#investing #stocks #finance #wallstreet #stockmarket #investor #wealth #money #financialfreedom #passiveincome #dividends #compounding #longterminvesting #buyandhold #valueinvesting #portfoliomanagement #bitcoin #crypto #macro #Nasdaq #SPY #QQQ #SP500 #SpaceX #IPO #EuropeanStocks #VGK #InternationalInvesting #BehavioralInvesting #EarningsSeason #Nvidia #NVDA #Semiconductors #SanDisk #Micron #MU #Druckenmiller #WarrenBuffett #stockanalysis #marketwatch #RigatoniCapital$QQQ $SPY $VGK $NVDA $MU
What this episode covers
Marc Rudajev of the Learning.Investing.Thriving newsletter on Substack is back on the Rigatoni Capital Podcast for round two. This time we cover three big themes: whether American investors are too US-centric in their portfolios, what the SpaceX IPO actually means for the average retail investor, and what Q1 earnings are really telling us heading into summer.On the international question, Marc makes the case that ten out of the twelve major European markets beat the S&P 500 in 2025, with Spain leading at 57% returns. European stocks quietly had a remarkable year and most US investors missed it entirely. We also break down the SpaceX IPO road show and what Bill Ackman's take on valuation means for retail investors. Note: this podcast was recorded on the morning of June 4th. That evening, S&P Dow Jones Indices confirmed it will make no changes to its megacap eligibility period, meaning SpaceX will not be fast-tracked into the S&P 500 and will instead wait the usual year or more before qualifying. The Nasdaq 100 path remains unchanged and SpaceX should still enter within weeks of listing. Someone who owns QQQ picks up SpaceX almost immediately while someone in the S&P 500 does not, and that gap could last a year or longer. On earnings, roughly 85% of S&P 500 companies beat estimates this quarter, the highest rate since the COVID period, with aggregate earnings growth near 27%. We close on behavioral investing and why the discipline to accept you missed something is worth more than any single trade.Check out Marc's newsletter Learning.Investing.Thriving on Substack: https://rudajev.substack.com/Rigatoni Capital is a daily morning podcast for long term, buy and hold investors. This is not a show for short term traders or people looking for quick wins. Every morning I go through the most important headlines in finance, markets, and macro, and call out fake narratives in the financial media so you know what actually deserves your attention and what to ignore.Subscribe to Rigatoni Capital on Substack: https://rigatonicapital.substack.comDisclaimer: This blog is for informational purposes only and does not constitute financial advice. All opinions are my own, and I am not a financial advisor. The information provided reflects my personal views and is intended to encourage discussion and thought among readers. Investments involve risk, including the loss of principal, and past performance is not indicative of future results. Always conduct your own research or consult with a qualified professional before making any financial decisions.#investing #stocks #finance #wallstreet #stockmarket #investor #wealth #money #financialfreedom #passiveincome #dividends #compounding #longterminvesting #buyandhold #valueinvesting #portfoliomanagement #bitcoin #crypto #macro #Nasdaq #SPY #QQQ #SP500 #SpaceX #IPO #EuropeanStocks #VGK #InternationalInvesting #BehavioralInvesting #EarningsSeason #Nvidia #NVDA #Semiconductors #SanDisk #Micron #MU #Druckenmiller #WarrenBuffett #stockanalysis #marketwatch #RigatoniCapital$QQQ $SPY $VGK $NVDA $MU
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The Markets That Beat America Last Year | Marc Rudajev
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