I am thinking of moving over my investments from S&P 500 to S&P 500 ESG, as they have excluded SpaceX and Tesla.
Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
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Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#332With schemes like SpaceX, and the general number of large-cap-but-negative-earnings companies trading on the market, I feel like the conventional wisdom of DCA and chill / just passively buy the index will turn into an underperforming strategy vs a slightly more active or opinionated approach.
Another factor. TINA. There is no alternative.
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#333I really want a QQQ/VOO replacement that excludes these new rushed IPOs that are just exit liquidity. There are ETFs that exclude harmful industries like gambling, weapons and tobacco. How about an ETF that doesn't include IPOs for six months or until insider lock ups periods are over.
The point of these broad ETFs is that they include everything. Let the market decide. Of course they should own one of the largest public companies in the world. They're changing the rules on inclusion because the ipo is unprecedented and not owning it because [reasons] would be a dereliction of their duties. You want an ESG fund Also I dont see how weapons companies are harmful. Unless you're so naive to think defen…
> Let the market decide... They're changing the rules on inclusion ...
You have the market deciding and the rules changing in the same paragraph and nothing's bothering you. I genuinely envy your peace of mind, my friend. Some of us are truly blessed.
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#334Earlier quoted context omitted.
How does Tesla fit with the rest of those? I'm not a huge fan of Elon Musk but Tesla is a company that produces electric cars (mostly in western countries with half-decent labour laws), it's not associated with any of those things. I guess one could argue with some merit that the governance is bad enough to exclude it on that basis alone?
Agreed - Tesla has been an insanely good investment. I'm not sure about the next 10 years, but people have continuously underestimated them (and Elon Musk). The Norwegian so called Oil Fund owns more than 1% of Tesla.
has it been an insanely good investment because of changes to profit and loss, or because of other factors? (of course, building a car company of the scale they have is impressive. But by looking at tesla's financials vs stock price, youd conclude basically any other car company ever was a great buy by any reasonable metric)
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#335Earlier quoted context omitted.
In Norway the oil fund are actively arguing against boycotting these kinds of companies saying, and I paraphrase: "but our job is to earn money and we can't do that if you hippies keep standing in the way with your morals" Good to see it isn't necessarily the case.
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Choosing to not invest in something is the complete opposite of virtue signaling... stop using words you don't know the meaning of
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#336I am thinking of moving over my investments from S&P 500 to S&P 500 ESG, as they have excluded SpaceX and Tesla.
$XVV (iShares ESG Select Screened S&P 500 ETF) holds $TSLA
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#337I've recently been thinking about pulling my money from all of the US funds that I currently have. I really don't want my investments to be in SpaceX, OpenAI or Anthropic.
Why not Anthropic? They’re a very rare company capable of charging $200 per month per seat level fee across the corporate workforce. Yes their compute costs are astronomical, but that can be managed down over time by more efficiency or mild enshittification that doesn’t create too much churn.
> Why not Anthropic? They’re a very rare company capable of charging $200 per month per seat level fee across the corporate workforce.
Because no part of this statement is accurate. They’d like investors to believe it’s very rare but they have multiple strong competitors, most of whom have much better financials, and the entire sector is worried that the open models are going to effectively cap rates below what they need to pay off their massive investments. Lastly, they’re not universally must-have in software development which is one of the domains best suited for LLMs but most corporate work lacks similar correctness oracles and we’re already seeing major corporate customers reconsider the cost/benefit ratio.
None of that means they’re doomed but a lot of stars need to align for them to keep their valuation up. They don’t need to go out of business for investors to lose money buying in at the peak.
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#338Earlier quoted context omitted.
The fossil fuel part doesn't seem like a rational decision to me. Why are we pretending that fossil fuels dont provide an immense amount of value for humanity, and that its horrible to invest or support building out any fossil fuel production whatsoever. Lets not do produce it ourselves, lets just instead outsource it to the gulfs and Russia…
The slavery part doesn't seem like a rational decision to me. Why are we pretending that slavery doesn't provide an immense amount of value for humanity, and that it's horrible to invest or support building out any slavery production whatsoever? Lets not do produce it ourselves, lets just instead outsource it to Africa... ___________________________________ Snide comparisons aside, I'd just say that we can accept tha…
Slavery is evil. Fossil fuels is actually still a net good for humanity. E.g. the consequences of removing access to these energy sources, would be overwhelmingly more negative for humanity right now, than the consequence of global warming.
The transition is moving ahead, it just takes time, and we need more technological breakthroughs and innovation. Trying to attack production instead of solving demand, can cause serious consequences, in which the poorest countries in the world would suffer the most.
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#339I have AkademikerPension as my pension fund through work and this move suits me quite well. They've already excluded Tesla as well as a variety of companies that profit of weapon production, fossil fuel production or are suspected for human rights violations. https://akademikerpension.dk/ansvarlighed/ekskluderede-selsk...
In Norway the oil fund are actively arguing against boycotting these kinds of companies saying, and I paraphrase: "but our job is to earn money and we can't do that if you hippies keep standing in the way with your morals" Good to see it isn't necessarily the case.
> our job is to earn money
Which is exactly why you wouldn't put it in a company with a ridiculous valuation.
Re: Danish Pension Blacklists SpaceX over 'Catastrophic Governance'
#340Earlier quoted context omitted.
In Norway the oil fund are actively arguing against boycotting these kinds of companies saying, and I paraphrase: "but our job is to earn money and we can't do that if you hippies keep standing in the way with your morals" Good to see it isn't necessarily the case.
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It’s not virtue signaling if they’re actually doing something, it’s virtue action. They’re acting according to their virtues.