This motherfucker and his half-truth bootlicking bullshit. "I'm for the little guy, but please don't let the hedge funds lose money, because the hedge funds are really on the side of the little guy."
1) The percentage of workers in the private sector whose only retirement account is a defined benefit pension plan is now 4%. And only 14% of companies offer both 401K and pensions.
2) Private pension plans are at least partially insured by the Pension Benefit Guaranty Corporation (PBGC), a government agency established in 1974 by the Employee Retirement Income Security Act (ERISA). The goal of PBGC was to provide a retiree with uninterrupted pension payment's if their employer's pension fund went bankrupt.
3) Someone is going to have to tell me exactly what % of the money in the hedge funds who shorted GME is made up by pension money. Hedge funds raise their capital from a variety of sources, including high net worth individuals, corporations, foundations, endowments, and pension funds.
They are only open to "qualified" investors—individuals with an annual income that exceeds $200,000 for the past two years or a net worth exceeding $1 million, excluding their primary residence.
As such, the Securities and Exchange Commission deems qualified investors suitable enough to handle the potential risks that come from a wider investment mandate.I'm not saying GME isn't a worthless company, but Mikey's framing is bootlicking as usual.
Topic: Investing? (Read 17249 times)