Reply #8: Do you really believe the majority of pension funds are still invested in BP?

[TexasObserver]

I suggest you stand back from this piece of what you believe to be journalism and ask yourself "what themes is this piece attempting to promote?"

Someone fed this story to the story's author, and they have a purpose. Their purpose is to convince people that pension funds are invested in BP, so you should want BP to succeed and you should not worry about BP stock losing value.

I never said all pension funds got out BP. Smart ones did. Big ones, however, such as those associated with major brokerage houses, were more cavalier. They tend to believe their own rhetoric, and some of them have ended up keeping their clients in bad investments because of it.

I don't believe the majority of American pensioners hold BP stock, I don't believe the majority of pension funds are still invested in BP stock, and I believe those who are still invested in BP stock are trying desperately to manipulate mainstream media with stories such as this one.