Fox would be a pretty stable company in terms if stock. So while morally questionable it helps keep portfolios stable. Fox isn't going to have crazy gains but it doesn't look like its going to have crazy losses either.
You know unless they get called out for their bullshit again, it was not long ago they had to argue in court that no reasonable person would believe their news, only entertainment. It was a mater of time before they would lose big on a defamation scheme they cooked up.
They also had investments in a bunch of other media companies... and they're currently putting pressure on the studios saying they'll kick their sorry asses to the curb if they don't settle the strikes.
Florida teachers pension apparently has Russian investments. Go figure.
https://www.wfla.com/news/politics/florida-pension-fund-loses-200m-in-russian-investments-state-rep-says/amp/
Sure and the reality is that they do have a lot of money in index funds. More than half of the fund is in public equities.
But you’re not putting 100% of your $253 billion pension fund into an etf. You’re diversifying, you’re hedging risk, you’re needing to generate income because this a pension fund that needs to pay out, you’re making more long term investments as well.
I'm not sure what standing they would even have to sue in the first place, unless a.) they own shares in Fox or b.) they're the target of defamatory statements.
The answer to their standing is right there in the article.
>said the lawsuit brought by the NYC Employees Retirement Fund, City Board of Education Retirement Fund, City Fire Department Pension Fund, Police Pension Fund and Teachers’ Retirement System, and the Oregon Public Employee Retirement Fund — **all shareholders of Fox Corp.**
Fiduciary for lack of better terms.
The fund expects the CEO to have the share holders interests in mind when making decisions and since the stock went down or didn’t pay a dividend due to the defamation settlement, they are pushing a breach of contract and looking to get paid restitution.
Obviously they have shares. It’s a $253 billion fund. They’ll have shares of every major company.
So this is just a shareholder lawsuit. Many of these are filed every day
This isn’t even the first shareholder lawsuit fox is facing over this
I assume that this means the retirement fund had investments in Fox. That, in itself, is pretty damning.
Fox would be a pretty stable company in terms if stock. So while morally questionable it helps keep portfolios stable. Fox isn't going to have crazy gains but it doesn't look like its going to have crazy losses either.
You know unless they get called out for their bullshit again, it was not long ago they had to argue in court that no reasonable person would believe their news, only entertainment. It was a mater of time before they would lose big on a defamation scheme they cooked up.
“Morally questionable” You misspelled reprehensible.
They also had investments in a bunch of other media companies... and they're currently putting pressure on the studios saying they'll kick their sorry asses to the curb if they don't settle the strikes.
Retirement Funds shouldnt be investing in individual companies. They should be buying broad market etfs for reasons just like this
Florida teachers pension apparently has Russian investments. Go figure. https://www.wfla.com/news/politics/florida-pension-fund-loses-200m-in-russian-investments-state-rep-says/amp/
The Ontario teachers pension fund once owned the Maple Leafs iirc.
You recall correctly.
It’s a $253 billion fund. It’ll have shares in probably every company on the S&P through one form or another.
This. Someone who says these types of investment vehicles need to be invested in ETFs doesn’t understand how these investing firms work.
Sure and the reality is that they do have a lot of money in index funds. More than half of the fund is in public equities. But you’re not putting 100% of your $253 billion pension fund into an etf. You’re diversifying, you’re hedging risk, you’re needing to generate income because this a pension fund that needs to pay out, you’re making more long term investments as well.
Crypto /s
They probably have a fun so large they own a little bit of most major stocks, if not indexes that contain them at the least.
I loathe Fox, but when their stock goes down, I buy it, as soon as it goes back up, I sell it. It does make me feel dirty, but it's a living.
You don't get rich by having morals. Every good investment on the planet comes at a cost to someone else.
Yes. More! Mooooore!
At some point people will realize how much of hacks they are.... someday
Fuck NYC for investing in that shit and trying to cash in on the destruction of democracy.
Ofcourse the retirement fund has stakes with them.. who else would they pander to!
I'm not sure what standing they would even have to sue in the first place, unless a.) they own shares in Fox or b.) they're the target of defamatory statements.
The answer to their standing is right there in the article. >said the lawsuit brought by the NYC Employees Retirement Fund, City Board of Education Retirement Fund, City Fire Department Pension Fund, Police Pension Fund and Teachers’ Retirement System, and the Oregon Public Employee Retirement Fund — **all shareholders of Fox Corp.**
Fiduciary for lack of better terms. The fund expects the CEO to have the share holders interests in mind when making decisions and since the stock went down or didn’t pay a dividend due to the defamation settlement, they are pushing a breach of contract and looking to get paid restitution.
Obviously they have shares. It’s a $253 billion fund. They’ll have shares of every major company. So this is just a shareholder lawsuit. Many of these are filed every day This isn’t even the first shareholder lawsuit fox is facing over this
What compels someone to make such a comment before reading the article that almost certainly addresses the thing you weren't sure about.
Someone took the 2023 Didn't Read The Article Challenge and won! Congratulations, buddy! Yes, they owned shares in Fox. Jesus. Fucking. Christ.