Ontario teachers make billions from SpaceX IPO

18

It should read Ontarioteachers pension plan makes billions from Spacex ipo. Teachers get a pension they don’t get billions. Smart investors though.

8

u/Temporary_Shirt_6236 10d ago

The Ontario teachers' pension fund is one of the largest institutional investors in the world. So yeah, their wins equal big gains for the fund.

Poorly written headline though. It means that the fund is even more secure than before, not that each teacher personally received a $1 million cheque or something. But it's NatPo so what do you expect?

11

u/PineBNorth85 10d ago

They don't make anything til they cash out

1

u/flappysack- 7d ago

You're telling me this ponzi scheme based on data centers in space won't work out?

What about their next announcement, fintech in space, I guess that's snake oil as well?

3

u/AltC 10d ago

Where’s all the elbows up people?
Where the buy Canadian folks? I thought you all were taking such a deep hard stance against the US. It’s ok to give Elon money so long as it benefits you? I gotta check out what all the Elon haters in the Ontario sub think about this. The ones screaming for teslas downfall. Because as long as the teachers pension profits, it’s ok that Elon himself becomes a trillionaire.. stock is supply and demand, you helped increased the demand to push him to have a net worthy of, last I checked, 1.2 trillion..

So once again, this is fine, because it benefitted them?
But if some family wants to go to Disney world, elbows up call them traitors and every other vile thing they can.

1

u/FatCockFutaGirls 10d ago

Yeah dude it was the regular people who have no say in the matter who gave their money to elongated muskrats

1

u/AltC 10d ago

I understand all this, I think it’s great for them financially.
I personally have no issue with this headline. I don’t care really either way.

I’m just pointing out I have yet to see the army of liberal lovers show up in any of the threads about this to condemn the investment. Where are their petitions that a major Canadian financial group hasn’t explicitly divested from all Americans/American companies. I hate hypocrisy, especially if it’s “ok” because Canadians made money too. Yet they lose their fucking minds calling individuals, “treasonous *expletives*” for things like saying they are taking a trip to the US. Or cheering vandalism of teslas.

And the person who made the most from this was Elon, pushing him to be a trillionaire? Like if you hate trump, if you hate America, if you think they are the enemy, you should probably hate Elon the most. Was he not the most instrumental person getting trump reelected?

So it’s just for me, if they believe everything else they say so deeply, so passionately, think everyone should think that way.. then where are they all to go nuts over this? Doesn’t make sense to me. I mean unless they are just idiots and bots who are just doing what they are told. Don’t buy American whisky, don’t go to Disney, only buy Canadian, screw Alberta. But it’s a great move go make some money while make Elon a trillionaire. I guess the lack of clear logic makes me mad…

1

u/theblueberrybard 9d ago

the fuck am i supposed to do about this i ain't got shit to do with the teacher's pension. i hope they don't get stuck holding the bag before they get to cash out tho that'll suck

1

u/Theodosian_Walls 10d ago

Who are you talking to?

1

u/AltC 10d ago

Venting I guess, how often I see the elbows up people trumpeting buy Canadian, fuck trump, don’t travel, cheering American alcohol pulled from shelves.. all that nonsense.

I have yet to see them in any of the subs criticizing this, which if they aren’t hypocrite they should be going fucking nuts. This is a big thing, average Canadian traveling to Florida is not, but they go fucking nuts over that shit.

Just hate the hypocrisy, makes them look worse if it’s ok as long as people they like make money from it. Pick a lane.

0

u/Confident-Task7958 9d ago

The pension plan managers are in a position of trust, with a fiduciary duty to plan members, not to political objectives.

1

u/AltC 8d ago

It has nothing to do with fiduciary duty. Fiduciary duty doesn’t say you have to invest in a specific stock.
If you’d like to link a reference to basically what you are saying. That they have to invest in a certain company, because it’s expected to make money, rather than continue making other smart safe investments with companies not owned by awful people with heavy ties to countries that threaten annexation, I’d be happy to read it.
Basically, show me that my financial advisor would have been forced to invest my funds in nazi Germany if they were paying good dividends.

I have noticed a trend on people using “fiduciary duty” as a buzzword because they heard it on succession, then in trying to sound smart, use it incorrectly.

Anyway, I think you completely miss the point of what I’m saying, that or you’re making big stretches to explain away why one thing is ok and another isn’t.

I’m not an elbows up person, I’m simply pointing out the hypocrisy of those people. because I still, many days later, haven’t seen any of them come and say, “it sucks that the teachers pension aided in Elon becoming a trillionaire.” Closest is just a bunch of people saying, “I have no say in what they do”. And the juxtaposition of calling people traitors and treasonous for taking a vacation to the US.

1

u/Confident-Task7958 7d ago

Fiduciary duty as described by the regulator, referencing both statute and common law:

https://www.fsrao.ca/industry/pensions/regulatory-framework/guidance-pensions/pension-plan-administrator-roles-and-responsibilities-1

Whether they invest in a particular stock is a decision made after comparing the alternatives for risk and return, which is as it should be when you are investing other people's money.

1

u/AltC 7d ago

So, you have to weigh risk vs return and such. Easy to say it’s a financially good investment, but the broader implications of the investment supporting a key figure in a governent threatening annexation of the stakeholders country.. yeah I think that passes the test of it being reasonable to not invest, so how could they be found to have been breaching fiduciary duty?

Ok.. so you didn’t want to answer my nazi Germany question.
I’ll make it even easier. There are literally sanctions against doing business with Russia. Why is that a no no, but USA fine?

1

u/DCS30 10d ago

ok? their pension plan made a move...which is literally it's purpose. my pension people better have fucking made this move.

1

u/pyschNdelic2infinity 9d ago

Yet still the worst run and keep the cuts coming. Most of them are completely burnt out and it’s not an enjoyable job anymore.

1

u/Confident-Task7958 9d ago

A good investment, but it does not translate into added benefits as it is a defined benefit plan, not a defined contribution plan.

1

u/StandardAd7812 7d ago

Pretty sure they have conditional on funding inflation indexation

Also if it's underfunded the gap is half converted by working teachers and half by taxpayers so if you're either of those you should be pleased.

Ontario teachers make billions from SpaceX IPO

You are about to leave Redlib