Pension scheme trustees have a fiduciary duty to exercise their investment powers for the purposes of paying members’ pensions and taking account of relevant (usually financially material) factors.
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If I told you a story about a group of everyday people bound together by a common, albeit fundamentally flawed belief, who pushed one another to extremes in a self-reinforcing internet echo chamber, risking everything to overthrow the powers that be, you might think I was offering a charitable summary of the events on January 6.
But I am not talking about the attack on the Capitol. I am talking about the infinitely more sympathetic squeeze brought to bear on big-shot short sellers this week by an army of bullish retail investors.
Now, to back up, there was a fundamental case to be made that Game Stop was both undervalued and over-shorted. But the impetus to buy based on fundamentals, to the degree that it existed, ended about $100 per share ago.
Facebook0Tweet0Pin– Amjed Jaaved Pakistan’s economy is, currently, faced with myriad problems. These problems have been compounded by inconsistent and erratic