It’s not as much a “feel-good” story as comments who haven’t read beyond the headline might make you believe:
The PIF values its total investments at nearly $1 trillion in assets, but a significant percentage of these are hard-to-sell assets with no public valuation; as a result, the NYT reports that the PIF reps have told international investors that it is “unable to allocate” for the near future.
Despite this, a spokesperson for the PIF, Marwan Bakrali, told the newspaper that it had $60 billion in cash and “similar financial instruments”.
ETA: Its not as though they’ve lost a significant chunk of the fund, but rather that a sizeable portion of it is tied up in illiquid assets that can’t be readily sold, or valued and loaned against.
Though there is some mention of some of their investments being in “distress”, so there is at least some good news?
Our former prime minister claimed they also invested heavily in a past election which was gerrymandered up to the neck, that they then proceeded to lose. So sad.
Maybe they shouldn’t have tried building that line, killing journalists and paying hush money (which worked badly enough that I, a random Cascadian citizen, know about these crimes)?
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Maybe they’ll finally sell of GlobalFoundries,
It’s not as much a “feel-good” story as comments who haven’t read beyond the headline might make you believe:
ETA: Its not as though they’ve lost a significant chunk of the fund, but rather that a sizeable portion of it is tied up in illiquid assets that can’t be readily sold, or valued and loaned against.
Though there is some mention of some of their investments being in “distress”, so there is at least some good news?
Our former prime minister claimed they also invested heavily in a past election which was gerrymandered up to the neck, that they then proceeded to lose. So sad.
what a shame.
Maybe they shouldn’t have tried building that line, killing journalists and paying hush money (which worked badly enough that I, a random Cascadian citizen, know about these crimes)?
You hate to see it (love to see it)