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I'm surprised Fidelity is on the list. Your retirement account might still own shares of X
by enjoyyourlife 2y ago
I'm surprised Fidelity is on the list. Your retirement account might still own shares of X
- coffeebeqn 2y agoYeah how does owning private stock work for those funds? Kind of interesting. For most funds don’t they constantly sell and buy each stock to rebalance it
- Ekaros 2y agoThere is vast number of different types of funds that invest in nearly anything you can imagine. Real estate, land(farmland and forrest), public stocks, bonds. Also why not private stocks. ETFs traded on exchanges and index funds is just very special setups. Which don't prevent other forms of funds that is essentially piles of money given out for them to manage often with limitations of pulling it out.
- jcranmer 2y agoFidelity has long been known to be one of the owners of X; their markdowns on the value of their X holdings have long been the most common citation of how far X's value has plummeted under Musk's stewardship.
- lupire 2y ago[flagged]
- gruez 2y ago>Can they be sued for misrepresentation and securities fraud? Why?
- austhrow743 2y agoMany wouldn’t consider Twitter to be a blue chip stock.
- gruez 2y agoIs it any less of a "blue chip" stock than other holdings in that fund, which include securities like like Skyryse, Inc. Series B, MOD Super Fast Pizza Holdings LLC Series 3, and Alif Semiconductor Series C?
- austhrow743 2y agoProbably not.
- ProAm 2y agoThat is sort of whataboutism commenting. While yes, but still, not the point being argued.
- unclad5968 2y agoWithout discussing nuance the question isnt meaningful. The answer to "can X be sued for Y" is always yes.
- kerkeslager 2y ago> The answer to "can X be sued for Y" is always yes. ...which is why taking that question literally probably isn't being a good listener. If someone is asking a question with an obvious answer if taken literally, probably that means they're not intending to ask that question literally. Yes, they could ask their question more specifically, but it's up to us as listeners to try to understand people too. Communication, famously, is not a one-person activity[1]. Typically I'd assume "can X be sued for Y?" means "can one reasonably hope to win a civil suit against X for Y?" unless I have reason to believe that the speaker is very un-knowledgeable about U.S. law. [1] https://www.explainxkcd.com/wiki/index.php/1984:_Misinterpretation https://www.explainxkcd.com/wiki/index.php/1984:_Misinterpre...
- tbrownaw 2y agoI thought "blue chip" and "institutional" were pretty much opposite to "growth"?
- alephnerd 2y agoFidelity is one of the largest asset managers in the world ($4.9T in assets). They have a piece of almost every pie.
- MengerSponge 2y agoBut the other major asset managers don't have nearly the same exposure. Embarrassing for Fidelity. https://en.wikipedia.org/wiki/List_of_asset_management_firms https://en.wikipedia.org/wiki/List_of_asset_management_firms
- klingoff 2y agoIMO it was a pretty good gamble. Even if his mental decline seemed obvious, it wasn't obvious they would be prying X from his cold dead hands at all or nearly this late.
- alephnerd 2y agoMost of the listed shareholders were shareholders in Twitter well before Musk bought it - in fact, it was during Twitter's IPO roadshow. For example - DFJ (2010), the Al Saud family (2011), and Fidelity (2011). In this case, these are minority investors restoring their ownership stake.
- cbanek 2y agoI'm not surprised, Fidelity also owns a piece of SpaceX.