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1. Embed this notice
   Adam Leventhal (ahl@mastodon.social)'s status on Sunday, 04-Jun-2023 00:03:50 JST Adam Leventhal

   • Matt Levine

   Patron saint of punchiness, @matt_levine

   • Embed this notice
     feld (feld@bikeshed.party)'s status on Sunday, 04-Jun-2023 00:03:49 JST feld

     in reply to
     I don't get why this matters at all. It didn't require AI chat bots to create the rise and fall of the Hunt Brothers.
     
     Stupid investment decisions are happening every day and they're human powered.
     
     Investments are a risk. Your 401k, your pension -- there's no law that says these must be only invested in safe assets.
   • Embed this notice
     feld (feld@bikeshed.party)'s status on Sunday, 04-Jun-2023 00:38:19 JST feld

     in reply to

     • Patrick Reynolds
     Sure, investment and financial advisors must operate in your best interests but this screed is full of weird confusing terminology. Those people are not bankers, and banks are very specific things. This is more like a private hedge fund IMO so it's just gambling. You can try to sue the owners of a private hedge fund for losing your money I guess but you better be able to prove that the entire operation is fraud.
     
     But you can put your 401k, IRA, etc into risky assets. That is not restricted.
   • Embed this notice
     Patrick Reynolds (piki@hachyderm.io)'s status on Sunday, 04-Jun-2023 00:38:26 JST Patrick Reynolds

     in reply to

     • feld

     @feld @ahl ERISA does in fact require plan fiduciaries to make prudent investments.

     “Fiduciaries must act prudently and must diversify the plan's investments in order to minimize the risk of large losses.”

     https://www.dol.gov/general/topic/retirement/fiduciaryresp