I was horrified by the contents of one of my Finnish mutual funds when I looked into it after years of disinterest. I’m especially disgusted by UnitedHealth Group Inc - the health insurance company whose mass murderer CEO got shot recently, sparking nationwide cheers.
As a passive investor, you’ll forget your money into the wrong hands when the bank won’t remind you of developments in the political situation.
Ålandsbanken promises:
“socially sustainable”
You may assume your bank is civilised, but you should have a closer look. I’m a customer of S-bank in Finland. In this case, the fund ended up under a different Finnish bank twice due to buyouts, and the management of the fund ended up in a Canadian bank branch in the UK.
My other bank didn’t recommend selling my Russian investment when Putin’s reign had started going overdue after his full term as a president. Luckily I was awake and sold everything.
Investments drift out of balance over time. Within mutual funds, there are limits, but the funds grow at different rates. You should re-balance your diversification once in a while to avoid excessive country risk.
I don’t know if fund managers are bribed to distort the balance within the fund’s limits for the benefit of a third party.
My fund is managed by that guy. I sold everything. Will reinvest in Europe.
So what do you invest in then? It feels really hard to find any opportunities outside of the stock market.
I don’t lol. I just save it in a credit union. I’m not judging people who invest. I also have economic anxiety. I just can’t bring myself to participate in that way.
Thats fair, it’s a bit nerve racking (especially right now with everything going on). If you’ve got a good interest rate on the account then you’re at least not loosing too much value, but the main reason to invest is that money looses value over time (due to things like inflation).
Not a fiduciary or anything like that, but double check your at least getting at least 3% on your savings accounts, otherwise you’re basically throwing money away.