Ed Lins’ Baron article on the Tennessee Department of Treasury – #stocks chatter

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Ed Lins' Baron article on the Tennessee Department of Treasury
In today's issue of Barrons, Mr. Lin puts the country on notice that State Pension Funds ( one that you would think has somewhat of a fiduciary duty to the fund-since it involves State employee's retirement monies) has bought Tesla and GM stock and sold G E stock as well as Walmart stock!

At first blush, after reading the headline only, you would say "they must have done quite good with those trades"! However, after piecing together the actual figures that Mr. Lin posts, it was more of a disaster than a combination of winning trades.

The department purchased an additional 67,648 worth of Tesla shares - on top of the 293,695 shares of Tesla they currently owned - this happened at the end of the first quarter. The total dollar value of those shares of Tesla, selling at 719.00 per was $259,805,617. The closing price, after what this reader considers to be a "dead cat bounce" was $589.74 : a total dollars value of $213,098,421! The total loss on their books from Tesla shares bought at the end of the first quarter, as well as those 293,695 valued at that time, was a staggering 46 million and 77 thousand dollars. The Treasury Departments' of Tennessee employees took a hit.

You can do the math on the other 3 companies mentioned on your own; pretty much peanuts compared to the loss on the 'Tesla Bet"!

What I'm trying to point out, to new traders especially, is to read the entire article; not just the 'Headline'!

Otherwise, you'll continue to 'fall for the sizzle'. rather than the steak!

Stonehenge555
https://www.reddit.com/r/StockMarket/comments/nd221f/ed_lins_baron_article_on_the_tennessee_department/

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