Hard to believe: VA police pension, has 7% in crypto-related assets

Why is that hard to believe? The point is to invest the money in up-and-coming areas so a return can be generated. Neither of the funds had any exposure to FTX so they are fine.
 
Baron said:
Why is that hard to believe? The point is to invest the money in up-and-coming areas so a return can be generated. Neither of the funds had any exposure to FTX so they are fine.
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If Tether does eventually blow up, there will be a mountain of lawsuits re: breach of fiduciary duty against this fund and plenty others.
 
WHY are those pension funds so fond of cryptos? Ontario Teacher's Pension, now this Police Pension...They are this loaded that they don't care to lose? 7%??!!! That's a lot!!!

Investing in new investment assets is one thing but this is investing in something that they have absolutely no understanding of its risk and I am not even sure if they understand what's it that they are investing.
 
Specterx said:
If Tether does eventually blow up, there will be a mountain of lawsuits re: breach of fiduciary duty against this fund and plenty others.
More...

I don't think tether would blow up though simply because USD won't blow up. As long as USD doesn't blow up, tether won't because tether IS USD; it's tethered to USD.
 
Baron said:
Why is that hard to believe? The point is to invest the money in up-and-coming areas so a return can be generated. Neither of the funds had any exposure to FTX so they are fine.
More...
But a pension fund (a pension fund!) putting 7% of its assets in a super speculative instrument? Baron, you need to step away from the pompoms.
 
7% as of now but I wonder what it was 6 months or a year ago?

Ie. how much of the fund have they lost during this crypto bear market, where BTC has drawn down 75% and other coins and crypto securities have lost even more.
 
Frederick Foresight said:
But a pension fund (a pension fund!) putting 7% of its assets in a super speculative instrument?
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You didn't read the article. The 7% didn't go into a "super speculative instrument". You invented that out of thin air and then believed it to be true.
 
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