Re: And who is the brilliant investment manager ...
"This is a pension fund, right? They're supposed to be cautious and mindful with other people's retirement money. Where exactly does Uber figure in this picture?"
It doesn't figure nearly as much as you'd think. The problem with pension funds is that the people making the investment decisions get paid, and get paid plenty, out of your carefully-saved money, whether or not the return is positive. They may get *more* if the investment does well, but if it does not—if an Uber happens, or there's a banking crash, recession or whatever—then *you* are the one who really takes the hit.
If you wanted a really prudently-managed pension fund, you'd ensure that the people making the decisions had their own money at stake, so that if they bad a really bad or greedy call, they'd be first to suffer.
Biting the hand that feeds IT
