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Comment by thablackbull | Hacker News Reader

OTPP has quite a solid reputation and this particular investment was a miniscule speculative bet. You can see the performance over time here [1].

[1] https://www.otpp.com/en-ca/investments/our-advantage/our-per...

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It's not about performance or risk management, it's about due diligence. They should not be giving any amount of money to an organization with such poor internal checks of their finances.

I'm sorry but thats not how it works. This investment was made out of their venture fund which deliberately makes risky bets, but is a small amount of the overall pie. OTPP is fine and is going to produce returns which are favorable, let's stop with the hyperbole.

--if you made an investment based on audited books but the books were still cooked - what more can you do? - audit the auditer maybe - at some point you have to trust the books --

What if you made an investment based on not seeing any books, there not being any reliable guide as to the company's liabilities, seen or unseen, and not being aware of any regulation or oversight preventing fraud and/or blowing up? But you had a good feeling about the company's hype and the CEO seemed like a nice young man with main character energy?

If the company turns out to be a fraud and the investment worthless, are you still entitled to say "nobody could have known" and "only 1 in 10 has to be a winner"?

How do you know there aren't many other bets like this on their sheets?

They are quite open about their investments: https://www.otpp.com/en-ca/investments/our-investments/

Here are the other bets in their venture category: https://www.otpp.com/en-ca/investments/our-investments/teach...

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