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
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)