461–470 of 560 posts
I 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...
I wanted to see how well Akademikerpension has done wrt. returns. This graph shows average yearly return from the financial crisis 2009 until 2021 and they are actually the best performing among other Danish pension funds [1]. [1] https://www.finanshus.dk/wp-content/uploads/2023/02/Pensions...
Ah, time to dump Velliv it seems.
If you do not like Elon, you can simply move your assets to a direct indexing fund, there are plenty of them at reasonable cost, including from the large brokerages. If you believe SpaceX is overvalued or do not like the way it is being handled by the big index funds, again, use direct indexing. akademikerpension is pretty decent fund, it is about 50/50 asset allocation, losing out by only .9% per year compare to a U…
"What should a company that launches 98% of the world's non government tonnage to space (80% if you include the Chinese government) be valued at ?" The TAM of that is under $10 billion. So even owning that entire market shouldn't get you anywhere near a trillion. Then factor in the development cost of starship which has been going on forever and still hasn't even made it to orbit. Even the IPO filing isn't claiming t…
Google when it ipo'd about 20 years ago had a market cap of $23B. It is now close to $5T. Even if it went over 10x overvalued at $230B when it ipo'd, it would still have been a good investment. That is because the internet became a large part of our economy, and Google is a major player.
If you really want to compare the two, Google had a market cap/revenue of $2B/$2.7B, SpaceX is currently $1.8T/$20B, or about 10x the ratio of Google back then.
Yeah, very pricey. Crazy ? Not sure. Do I like the valuation ? No. Would I buy more SpaceX than what will be in my equity ETF ? No. But I am not unhappy that I will own a piece when it comes out. Do I like the change in rules ? Absolutely not, but that is just the way it is. The market, over time, is, and always be a lot smarter than I am.
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> If Elon hadn't shifted so far to the right A symptom of his fickle nature and erratic behavior, as well as general poor impulse control, all of which rightfully make people skittish with their money and question his judgment.
I dont think he was fickle with this one. He was remarkably consistent. He had period where he though he can become hero for the democrats due to green cars. It did not worked, neither democrats nor left accepted him as unconditional hero. The racism, the villingness to cause harm to get more power for himself were there whole time. He was far right the whole time, just became more extreme and open when it stopped be…
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Most of the 1.8T hype is not at all related to the rocketry business. Well, I suppose if you buy the "AI DCs in space" pitch they could be somewhat related.
If you buy the "AI DCs in space" pitch, you deserve to be parted from your money.
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I find it amusing to read comments like these, because they remind me of the massive awareness gap between people who understand SpaceX's product line, and those who don't. In your world, you only see and interpret SpaceX's existing products. You then see SpaceX's eye-watering valuation, and then are confused where this comes from. Meanwhile, people who understand SpaceX's product line, and the implications these pro…
Rocket launch ex-Starlink is a small $N-billion market; a few dozen flights at $50M per flight. Starship is revolutionary and I can easily believe that it will expand the market by a remarkable order of magnitude. Multiple tens of billions. How does that justify a valuation over $1T? Starlink Mobile is more significant, but it's still unlikely to double Starlink revenue -- most mobile traffic will always be transited…
If you do not like Elon, you can simply move your assets to a direct indexing fund, there are plenty of them at reasonable cost, including from the large brokerages. If you believe SpaceX is overvalued or do not like the way it is being handled by the big index funds, again, use direct indexing. akademikerpension is pretty decent fund, it is about 50/50 asset allocation, losing out by only .9% per year compare to a U…
"Just" is doing a lot of work here. Many people have appreciated gains locked into their indexing products such that changing is very expensive. The biggest issue is not SpaceX/Elon per se, but indexes bending over backwards for him and changing their indexing rules to fleece index investors. Most IPOs perform badly, to the point where the SP500 excludes all of them for a year, and I think that is actually appropriat…
As far as the appreciated gains go, I agree with you. However, there is a strong correlation between someones wealth and how much they have in taxable. For most people, especially those that are not wealthy, their equity investments are heavily weighted to retirement accounts,so I look at this as more a rich persons proble.
With 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.
In my understanding some index funds i.e. FTSE Russel ones will include spacex with the weight based on the floated stocks, so in practice the weight in the index will be small enough in All Cap etc indices. So I decided for myself it is not a cause for concern. But I think now it is the time to look for index providers who do not decide to bend the rules for short term gain (i.e. S&P and Nasdaq).
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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?
Europe is still a democracy and while its apparently not relevant in the US America, Elon Musk as the richest person on the planet directly tried to involve him in europe elections.
To be clear, this has already happened to some degree. See Paris prosecutors investigating him for the distribution of child pornography. But targeting companies he is affiliated with for his personal behavior violates the principle of the generality of law.
If you do not like Elon, you can simply move your assets to a direct indexing fund, there are plenty of them at reasonable cost, including from the large brokerages. If you believe SpaceX is overvalued or do not like the way it is being handled by the big index funds, again, use direct indexing. akademikerpension is pretty decent fund, it is about 50/50 asset allocation, losing out by only .9% per year compare to a U…
That strategy would be a taxable event.