David Schwartz Criticizes S&P 500 Investment Advice

Ripple’s former chief technology officer, David Schwartz, has criticized viral advice urging retail investors to invest spare cash into the S&P 500 at record levels. According to BeInCrypto, Schwartz responded to a post on X that suggested investing as little as $5 in the index fund, citing all-time highs as a reason to act. Schwartz, known as @JoelKatz, sarcastically outlined a three-step formula: 'Buy high, ???, Profit,' highlighting the lack of reasoning in the original advice. The S&P 500 has been trading near record levels throughout 2026, following a $6 trillion rally.