I always thought that pension funds were ultra conservative investors:
Ontario Teachers’ venture growth platform invested $95 million in FTX equity. It’s now worth nothing.
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Normally pensions are conservative, but after a decade of low ROI on bonds and Treasuries what are they to do? They need a certain annual ROI and if bonds are crap they have to turn to riskier stuff. And it gets worse if they are required to have a certain percentage in fixed income on top of that.
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I have some suggestions, but the first would be “Don’t invest in something you know nothing about, which has no backing, which is “made up money”, and which is highly speculative, a synonym for “gambling with long odds.”
I’d also, and mind you this is just personal opinion, fire the person in charge of this, and the person next down in the chain, and perhaps the next 4 as well, and then work your way up to the board or whoever oversees this sort of thing and fire them too.
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