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Just because one tiny fund screwed up once does not mean that it is anywhere near likely that any ETF would screw up in a manner that would trigger this poison
by rosndo 5y ago
Just because one tiny fund screwed up once does not mean that it is anywhere near likely that any ETF would screw up in a manner that would trigger this poison pill.
$15bn is tiny, presumably we’re talking about big ETFs like SPY here.
And anyway, you’re pretty much agreeing with me. It’s absolutely possible for a big fund to make a huge and hilariously stupid mistake, but this twitter poison pill does not meaningfully affect the chances of that happening.
In a world where you can shoot yourself in the foot in a million ways, it is utterly pointless to speculate about this one extraordinarily unlikely situation.
- kolbe 5y agoWhat? Barclays is one of the largest financial institutions in the world with $1.9tn in assets. I think we're in agreement that this Twitter thing isn't worth the attention, but we are far from agreeing that large financial institutions are inherently competent because they're large.
- hedora 5y agoI was literally wondering what would happen. ETFs are supposed to be algorithmically traded right? There's a race condition between the poison pill being instated and the ETF updating their strategy. I wonder if a board could maliciously take advantage of that somehow.
- heartbreak 5y agoETFs generally aren’t managed without human involvement, and this poison pill isn’t software either. You’re taking concepts that exist in worlds like Ethereum and applying it to normal finance. That’s not how it works.
- rosndo 5y ago> but we are far from agreeing that large financial institutions are inherently competent because they're large. I don’t see anyone making that argument. Speculating on an ETF “accidentally” acquiring more than 15% of Twitter implies a whole different level of incompetence than a big ETF ever fucking up big.
- kolbe 5y ago> Seriously, do you think funds playing with the kind of money to buy 15% of twitter often make careless purchases? - You
- rosndo 5y ago
- kolbe 5y agoGood luck with that perspective in life. I'll stick with writing clearly. You stick with writing poorly and flipping out whenever people misunderstand your intentions.
- dang 5y agoYou broke the site guidelines badly in this thread. Please don't do that, regardless of how bad another comment is or you feel it is. We ban accounts that do that because it's so destructive of what this site is supposed to be for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- dang 5y agoCould you please stop breaking the site guidelines, regardless of how bad another comment is or you feel it is? You've been doing it a lot, unfortunately, and we've already warned you several times. If it keeps up we're going to end up having to ban you. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- rosndo 5y agoWhat’s the problem with my comment? The word “fuck”? The fact that the other commenter got offended because I pointed out their very real struggles with reading comprehension? I did not call kolbes comments bad, but patiently explained where they got it wrong. I think you’re seeing fighting where there’s none, at least not on my side.