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Next, do tech stocks. No matter your position, you have to be pretty bitter to actually develop and pay to host such a lame "told you!" site in a bear market.

by fleddr 4y ago

Next, do tech stocks. No matter your position, you have to be pretty bitter to actually develop and pay to host such a lame "told you!" site in a bear market. "Oopsie woopsie! They're very down! Would you also like to irresponsibly gamble away your country's finances?" It's 47 million in unrealized losses, even for a tiny nation absolute peanuts. It's a fraction of a fraction of the budget. Even the worst case is manageable, and there's a significant chance that it strongly bounces when the macro condition improves. Should a nation put their entire treasury into BTC? Absolutely not, but diversification of assets is sane. Big lumps of low risk/low return, small lumps of high risk/high return potential. Business as usual.

JumpCrisscross 4y ago
> Next, do tech stocks If the central bank of a cash-strapped nation started buying tech stocks with their foreign reserves, they’d rightfully be called out as loonies. It’s why countries with surplus cash go through a lot of trouble to segregate their sovereign wealth funds from FX reserves. If the former goes down, it’s embarrassing. If the latter crashes, it’s existential.
- fleddr 4y ago
  "If the central bank of a cash-strapped nation started buying tech stocks with their foreign reserves, they’d rightfully be called out as loonies." It's all optics. Because the above is exactly what happens, stocks got pumped 13 years in a row due to central bank policy. Do they own the stock? No, but they fully control the macro. But anyway, my main point was to give a little pushback to the narrative, which seems driven by hate, a superficial "told ya", followed by dubious claims. It does not reek of a person that actually cares about any humanitarian issue at all.
  - JumpCrisscross 4y ago
    You're comparing a reserve-currency central bank to one on the periphery. Thought about this for a while. That seems your singular mistake.

by fleddr 4y ago

JumpCrisscross 4y ago

> Next, do tech stocks If the central bank of a cash-strapped nation started buying tech stocks with their foreign reserves, they’d rightfully be called out as loonies. It’s why countries with surplus cash go through a lot of trouble to segregate their sovereign wealth funds from FX reserves. If the former goes down, it’s embarrassing. If the latter crashes, it’s existential.

fleddr 4y ago
"If the central bank of a cash-strapped nation started buying tech stocks with their foreign reserves, they’d rightfully be called out as loonies." It's all optics. Because the above is exactly what happens, stocks got pumped 13 years in a row due to central bank policy. Do they own the stock? No, but they fully control the macro. But anyway, my main point was to give a little pushback to the narrative, which seems driven by hate, a superficial "told ya", followed by dubious claims. It does not reek of a person that actually cares about any humanitarian issue at all.
- JumpCrisscross 4y ago
  You're comparing a reserve-currency central bank to one on the periphery. Thought about this for a while. That seems your singular mistake.