Earlier quoted context omitted.
I read you last line, but “if it collapses we have bigger things to worry about” was essentially the same argument my father used when he advised me to invest in Lloyds bank — those shares lost 95% of their value since I bought them precisely because “something bigger to worry about” did in fact happen . Now I’m a software dev not an economist, so perhaps you know better, but I have been told that WW2 essentially ban…
You're willfully ignoring statements. Your father asked you to invest in one company's single security. The UAE, Singaporean and Norwegian wealth funds are invested in everything from real estate to stocks to bonds to private equity. If those funds were to fail, the cause of that would be because the underlying securities failed, which would imply a collapse of the global financial system. As for the managers' capabi…
There is no need for that kind of language.
I give the example of my father’s advice because, to repeat myself for emphasis, the global financial system did in fact go very very badly wrong (and not for the first time).
The fact that his argument was also your argument is the segue, not the point.
> it's not some dude sitting in an office managing a trillion dollars - it's a team of highly brilliant investors who either invest directly or outsource the investing to multiple megafund investor firms across multiple risk profiles
I did not wish to imply that it was merely “some dude”, and I am disappointed that you chose to interpret my words as such. After all, I would not imply that you think that Lloyds bank lost so much market cap because “some dude” was planning their business strategy.
I wish to imply that (1) things change, and (2) that a current state of competent management is not something that can be assured forever.
This implication was illustrated with one of many historical examples of nations and empires thought indefatigable at their peak which are now no more.
I also illustrated it with the example of the global financial crisis which led to Lloyds losing so much value. I believe that was caused by teams of highly brilliant investors applying a Nobel-prize winning formula.
> Also the term "The Sun never sets on the British empire" implied geographical dominance across the world, not immortal dominance. Before you guys, it was the Spanish claiming that.
I was already aware both that it was previously used by the Spanish and that one usage was geographical, however it was also used by British people in the sense of never ending dominance - https://access-socialstudies.cappelendamm.no/c316302/tekstop...