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Swarms of small attack drones that confuse and overwhelm antiaircraft defenses could soon become an important part of the modern military arsenal, Britain’s defense secretary said, something that would mark a major evolution in robot-enabled warfare.
Speaking at the Royal United Services Institute…
When people buy plane tickets, they have to select a “gender” option: male or female. But those two categories don’t cover everyone, so some major airlines are planning to offer more choices.
Airlines for America and the International Air Transport Assn., two trade groups that represent major air…
Hawaiian lawmakers have introduced a new bill to protect any and all sharks from being killed in state waters—which, if it passes, will be the first law of its kind in America, the Guardian reports. Seems the bill was inspired by hundreds of support-letters and phone calls from around…
With drone delivery still a ways off , enter Amazon’s self-driving delivery robot. Amazon Scout is a “cooler-sized” electric vehicle on six wheels, intended to deliver Amazon packages along a delivery route, reports the Seattle Times . A promotional video shows Scout cruising down a sidewalk, stopping in front of a home,…
Could MacKenzie Bezos soon be the richest woman in the world? As Bloomberg explains, it’s not yet clear what will happen to the couple’s assets when Amazon.com founder Jeff Bezos and wife MacKenzie, an author, divorce , but an expert says those assets will likely be divided equally. Jeff Bezos…
Bernie Sanders accused of ‘sexist’ attack on Liz Cheney soon after saying he was too ‘busy’ to address alleged misconduct by his staffJanuary 5, 2019 | dailybusinessnews
U.S. Sen. Bernie Sanders went after a female House Republican’s critique of socialism on Friday by holding her responsible for the actions of her famed father, former Vice President Dick Cheney, a move largely decried as sexist.
The latest rumor circulating in the investment industry is that pension funds are buying crypto. Is a multi-million dollar pension fund finally prepared to give investors exposure to cryptocurrencies? And if so, what will this mean for the burgeoning asset class?
Typical Pension Fund Investment Strategy
The largest 300 pension funds collectively hold $ 6 trillion in assets. It is highly unlikely that a global pension and endowment fund has engaged in crypto investing in 2018. Why? Well one obvious reason is due to the funds being subject to heavier saver or investor protection regulations. Pension funds have large amounts of cash to invest and are the major investors in listed and private companies. Primary asset classes used for the investment of pension funds is equities, property, bonds and cash. Crypto is still too volatile and not regulated enough for the likes of a pension fund. That is all starting to change however.
Chuck Lauber, a portfolio manager at First National Fund Advisors, explained that pension funds in the U.S. are public entities, and as such “they’re mired in red tape which results in most of them being ‘late to the game’ in the realm of investment opportunity.”
Some pension funds are at the cutting edge of making smart investments in emerging assets classes, and crypto certainly falls into that category. “Most [pension funds] unfortunately, are not. Pro: ‘new’ asset class could help lower overall correlations. Con: lack of knowledge and reach for yield makes PFs the potential bag holders,” said Lauber.
Rumors Circulate of Pension Funds Buying Crypto
Pensions now buying cryptos
— zerohedge (@zerohedge) December 28, 2018
Zerohedge runs a markets-focused blog owned by ABC Media Ltd. It recently tweeted that pension funds are buying crypto, but was unable to back up this claim with a credible source.
It’s no secret that the performance and growth of pension funds is slowing down. Thanks to low interest rates, looming inflation, and slow growth, the future of retired populations could be at risk. The economics of retirement funding is at breaking point.
Anthony Pompliano, aka Pomp, is the founder of Morgan Creek Digital, an asset management firm backed by multi-billion dollar investment advisor Morgan Creek Capital Management. Pomp recently blogged on why he believes pension funds should buy Bitcoin.
“It will take time for pension funds to get comfortable with investing in bitcoin. We need to educate multiple stakeholders and demystify this nascent industry. When one makes the decision, it will create a cascading effect that leads to hundreds of them jumping in,” writes Pompliano.
Bitcoin Outperform Traditional Assets
According to Pompliano, the modern portfolio theory to support investing in bitcoin is strong. He states that BTC has been the best performing asset over the last 10 years.
“[Bitcoin] has experienced a 1,300,000x+ increase in value from $ 0.003 to ~$ 4,000 today. It has beat the S&P 500 for the last 10 years, the last five years, and the last two years. As a fixed supply asset, I believe bitcoin will continue to outperform traditional assets in the future as demand continues to increase too,” writes Pompliano.
If Pomp’s bullish thesis proves true, and Zerohedge’s assertion is correct, we may not have long to wait before the first major pension fund reveals it has acquired a cryptocurrency portfolio.
How likely is it that pension funds will turn to cryptocurrency investment in 2019? Share your thoughts in the comments section below.
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It looks like there’s going to be a lot fewer Gap stores when Black Friday 2019 rolls around. CNBC reports that the company plans to “aggressively” close hundreds of stores in malls around the country. The reason is pretty basic: Sales continue to slump, falling 7% in the third quarter…
Some of the thousands of troops sent to the US-Mexico border could be on their way home this week while members of the migrant caravan President Trump described as an “invasion” are still arriving. Army Lt. Gen. Jeffrey Buchanan, who is overseeing the deployment, tells Politico that some of the…
President Trump said he spoke with CIA Director Gina Haspel and that a full U.S. report on the killing of Saudi journalist Jamal Khashoggi would be completed early in the coming week.
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