How would you exclude Tesla?

I looked into it, you need to do something called “direct indexing” if you want to specifically exclude a stock. Here is one example, Wealthfront can also do it.

https://www.schwab.com/direct-indexing

Calls on SPY, puts on Tesla.

You're exposing yourself to tracking error every time the index rebalances. If you want to show it to the man, just go to a protest while buying a cheap index fund.

I don't personally care enough, I made my point years ago when I bought my EV from a different manufacturer.

Not super relevant. The point is using puts to hedge out Tesla is a bad way to buy the market ex Tesla.

If you want to buy the market and bet against Tesla, it's actually a great way. It may not be the most profitable, but that's never been the point doing something out of protest or spite.

> If you want to buy the market and bet against Tesla, it's actually a great way

Nope. Certainly not in the long term. You’re better off direct indexing. If you don’t have enough money to direct index, you’re wasting money.

I'm not wasting any money, because I don't personally care enough to follow this strategy. Thanks for the info though.

Buy a broad-market ETF, and then short the exact amount of TSLA in that ETF's holdings?