Fidelity has cut its estimate of X's value by 79% since Musk's purchase
Fidelity has cut its estimate of X's value by 79% since Musk's purchase
Elon Musk's X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity. The asset manager, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to Fidelity.
Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.
The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.
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This is why you shouldn't put your money into human-managed mutual funds.
Humans make idiotic decisions like helping Musk buy Twitter.
What's the alternative? AI is telling people to eat glue so that isn't a viable option imo. I don't think anything else exists that isn't human managed, although I'm not entirely sure what you mean by that.
Funds managed by pure numbers. Index funds for example
You'll never guess how indices are created
Mathematics.
It's not like the S&P500 committee is going to make wild and crazy decisions based on a hunch. It's still very much based on replacing older shrinking companies with newer more vigorous representatives in the same industry.
Still, it's not just mathematics, humans are making decisions on what companies to add or remove from the indices in a majority of cases.
Funds managed by cats I suppose.
Furds