Ripple Ex-CTO David Schwartz Criticizes S&P 500 Investment Advice
Ripples former chief technology officer, David Schwartz, pushed back at viral advice urging retail investors to put spare cash into the S&P 500 at record levels, rejecting the logic with a sarcastic three-step formula. The post, published by a user on X, drew nearly five million views, urging followers to invest as little as $5 in the index fund while citing all-time highs as a reason to act. Schwartz Questions S&P 500 Buy-High Logic Schwartz, known on X as @JoelKatz, replied with a blunt three-step breakdown. It laid bare the missing reasoning behind the original post. 1) Buy high. 2) ? 3) Profit. — David ‘JoelKatz’ Schwartz (@JoelKatz) May 26, 2026 The question marks in step two deliberately highlight what the advice omits. There is no explanation for how buying at a peak translates into profit. The user framed the post as simple, accessible guidance for everyday investors. The message spread widely but drew pushback from those skeptical of momentum-driven entry points. The S&P 500 has been trading near record levels throughout 2026. It neared an all-time high following a $6 trillion rally in just 10 days. Early recovery signals from earlier in the year helped fuel the run that pushed the index to new peaks. Buying at record prices carries