Elon basically gaslighted retail investors, and managers for your retirement funds, into transferring wealth directly to Elon Musk.
Other index funds were forced to buy SpaceX at the IPO price. They literally had no choice, even if they knew they’d lose money. And this includes any overseas ones with exposure to US indices.
This is not something to celebrate. We all just got conned, even if you didn’t buy SpaceX directly.
I pulled my retirement funds from the market over a year ago when the market was clearly detatching from reality. They are in a cash account earning modest interest for now.
Jokes on you, I nor any of the people I know, have a retirement fund lmao. This will overwhelmingly hit boomers and upper middle class yuppies in corporate jobs, and tbh fuck em both. If you work for a corporation and chose to be a stooge, you’re also part of the problem.
I think you are missing the fact that our pensions are going to be shit or not exist entirely. A retirement fund has to be much larger to cover what Boomers and earlier did because they had good pensions.
no. it’d not normal. there is an entire cohort of non-working class without retirement, and working class folks with one half a paycheck from disaster.
I dunno why yall are celebrating this.
Elon basically gaslighted retail investors, and managers for your retirement funds, into transferring wealth directly to Elon Musk.
Other index funds were forced to buy SpaceX at the IPO price. They literally had no choice, even if they knew they’d lose money. And this includes any overseas ones with exposure to US indices.
This is not something to celebrate. We all just got conned, even if you didn’t buy SpaceX directly.
I pulled my retirement funds from the market over a year ago when the market was clearly detatching from reality. They are in a cash account earning modest interest for now.
I don’t let fools in a stupor play with my money.
I did the same but paid off debt and bought a house. Still ain’t sure whether I chose wisely.
Yeah, I mean you’re preaching to the choir here.
I’m in individual stocks (that I think are sane) or assets everywhere I can be.
because anger at this may, in some hopeful universe, inspire some change. luigi style change or otherwise.
The stock market has always been a mushroom farm. Keep them cool and in the dark, then chop them down.
We requested not to include any of his stock, I hope that’s enough :(
It’s still going to be reflected in certain indexes, and market shifts in general, unfortunately.
So, the point is moot anyway.
Jokes on you, I nor any of the people I know, have a retirement fund lmao. This will overwhelmingly hit boomers and upper middle class yuppies in corporate jobs, and tbh fuck em both. If you work for a corporation and chose to be a stooge, you’re also part of the problem.
This whole comment screams projection to me. Having a retirement fund is fairly normal, even if you aren’t making the most money in the world.
I think you are missing the fact that our pensions are going to be shit or not exist entirely. A retirement fund has to be much larger to cover what Boomers and earlier did because they had good pensions.
no. it’d not normal. there is an entire cohort of non-working class without retirement, and working class folks with one half a paycheck from disaster.
Both of these states are normal in our society unfortunately
for sure. from a statistical standpoint i would reckon “no retirement” out numbers “a retirement” sadly.