What’s a greater risk to the market? Is it the new Omicron variant or the Federal Reserve? When buying into the S&P 500, where exactly is your money going? Since last month, the S&P 500 had a maximum drawdown of roughly 4.1 percent –– there was panic but then it recently recovered. But while the S&P 500 was down 4 percent –– the overall market was down even more. This makes us think that the S&P 500 may not be the best index anymore to forecast how the overall market is performing. Is it time for a new index? 

In Episode #105 of "The Capitalist Investor," Derek “Diamond Hands D” Gabrielsen and Luke “Cool Hand Luke” Lloyd reflect on the market’s history, debate overvalued stocks, and stroll through the evolution of indices just to answer all your questions and more. 

Time outline: 

• [6:30] The economy’s immunity to Omicron 
• [10:55] The Fed is a great risk 
• [14:00] S&P’s issue with reliability 
• [20:45] History of the Indices