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A Danish pension fund has blacklisted SpaceX, calling it grossly overvalued with catastrophic governance (thenextweb.com)
submitted 5 months ago by to c/technology@lemmy.world
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cross-posted from: https://piefed.world/c/tech/p/1160169/a-danish-pension-fund-has-blacklisted-spacex-calling-it-grossly-overvalued-with-catastro

AkademikerPension will not buy SpaceX shares at any price near the $1.8 trillion IPO target, saying the company cannot reasonably be worth more than $1 trillion and that Musk’s voting control makes it effectively uninvestable

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[–] 4 points 5 months ago (7 children)

are not stupid and have a long history of making stable gains on their investments, as they should.

Except the Danish government-mandated pension fund ATP that everyone is forced to contribute to. If you want to hit jackpot just invest opposite of what ATP is investing.

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  • [+] 34 points 5 months ago* (6 children)
    [removed by mod]
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  • [–] 3 points 5 months ago (5 children)

    The last 8 years straight they've lost money though...

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  • [–] 21 points 5 months ago (3 children)

    That appears to be fundamentally false.

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  • [–] 3 points 5 months ago* (last edited 5 months ago) (2 children)

    Not when you look at their entire (investment) business. an article from the biggest danish financial paper outlines it (paywalled)

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  • [–] 1 point 5 months ago (1 child)

    ATP is actually an insurance company masquerading as a pension fund: focus more on their guarantees, instead of getting optimal returns.

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  • [–] 2 points 5 months ago* (last edited 5 months ago)

    Their guaranties and payouts in their inaurance-branch are also horrendous and laughable, plagued by nonsensical coverage rules and ridiculous low rates.

    Edit: and no, it's not an insurance company masquerading as a pension fund, the areas are two entirely independent branches they have slowly been merged over time in the name of government efficiency (a.k.a. budget cuts). They also handle student financial support and basically all government financial aid programmes. But again, the cost of these things are entirely separate from the pension fund and how that is managed, it's not the same pool of money.

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