169-Year-Old MassMutual Invests $100 Million in Bitcoin

DiceAreCast said:
First of all not a singe portfolio manager in the world runs a 200 billion dollar portfolio. The assets are allocated to dozens of not more portfolios that are managed by many different managers. Secondly, mutual funds and most insurance portfolio are long equities only. They are not allowed to short equities on any form at all, whether outright, through options, or inverse ETFs or synthetics. Portfolio insurance is a very different concept than going short individual stocks. In light of that and the fiduciary duty even gambling 0.000001% of assets is a violation of such fiduciary duty. And I believe long only funds, that are funded by outside capital (unless hedge funds) take a large risk to expose themselves to future lawsuits by investing in unregulated securities that their regulating country's government actually discourages. It just does not compute that the same funds hold themselves to stringent gift giving, travel, dining, and stationary policies but then turn around and gamble in crypto markets.

https://workplace.massmutual.com/solutions/fiduciary-resources

Talking one way but doing another thing begs the question how responsible such company really is.
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I see your point. I've advised my aging parents not to get into crypto as it's a gamble that could see them go poor into retirement. On one hand, one could argue that these funds are "hedging" as they see bonds not as safe as they once were, but my cynical side tells me it's likely they're playing catch up on an exploding instrument and are FOMOing into it, possibly from own customer demand.

It really depends on the fund itself, I've seen plenty of tech funds that are absolute degenerates on the shit they're buying so I see no difference here in that case.
 
Well, something tells me the top is very near. Those type of funds traditionally stood far away from certain risks no matter the returns. For example, a bond fund was a bond fund was a bond fund. No matter how much stock xyz returned, the fund would not change its mandate. Now, too many of those guys chase crazily risky investments, regardless of whether the relative aum is tiny or huge. It's 2000 all over again.


Here4money said:
I see your point. I've advised my aging parents not to get into crypto as it's a gamble that could see them go poor into retirement. On one hand, one could argue that these funds are "hedging" as they see bonds not as safe as they once were, but my cynical side tells me it's likely they're playing catch up on an exploding instrument and are FOMOing into it, possibly from own customer demand.

It really depends on the fund itself, I've seen plenty of tech funds that are absolute degenerates on the shit they're buying so I see no difference here in that case.
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