"He manages a pension fund & had recently started to build large cash positions. One day he was called by a pension regulator at the central bank & reminded of a rule that says funds should not hold too much cash because it’s risky; they should instead buy more long-dated bonds."https://twitter.com/Acting_Man/status/1160834182962208773 …
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Incredible that regulators dictate what is "more risky" and don't defer risk calculation to math.https://twitter.com/SaturnProtocol/status/1160974560923136000 …
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Another gem : " to “reduce” risk the manager had to buy assets that were 100% sure to lose the pensioners money."
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Boat captain: Whoa there son, that’s way too many life jackets, start throwing those overboard and buy us some more anchors.
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Same happened in the Netherlands but then with a gold position. Due to the DNB they had to lower the position in 2011.
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