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
The rule is quite simple: if Elon has something to do with it it is grossly overvalued. Europe’s pension funds 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.
Why is it so bad? I don’t know about the exact situation, but 10.4% average yearly gain seems exactly like what a pension fund should do. Trying to hit the jackpot with people’s pensions is not a secure or sustainable way to deal with people’s pensions.
The last 8 years straight they’ve lost money though…
That appears to be fundamentally false.
Not when you look at their entire (investment) business. an article from the biggest danish financial paper outlines it (paywalled)