The Julia La Roche Show · Tuesday, September 8, 2026
The performance of the Mag7 ETF is described as 'pathetic,' with only a 4-5% year-to-date gain. McDonald highlights that companies controlling hard assets are significantly outperforming Big Tech, attributing this to investor discomfort with the return on invested capital in tech companies.
“The Mag7, uh, ETF is, is really pathetic. It's literally the year today. It's up like 4, 5%.”
“And all the companies that control hard assets, which you and I have been talking about for a couple of years, are just destroying Big Tech. Absolutely destroying.”
“So I think it's because the return on invested capital, mystery meat that's in there, is is got a lot of people uncomfortable.”