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They might not be lacking due diligence but 'past performance does not guarantee future income'.
Nobody suggested that anybody with a pension should asume that stocks will always go up. You're the one who has now suggested that they did and that I was blessing that attitude. That's just you entering the discussion in bad faith. This was a discussion about the gravity and impact of Holmes's crime, stonehedge said that people who invested money that they couldn't afford to lose were also at fault and I just pointed out that some people who were hurt didn't make any choice to see their money gambled on Theranos.
'ordinary people'
People whose only contact with the stock market is the pension fund somebody else manages for them, people who don't have the luxury of tracking the market and do have some reasonable expectation that the fund managers be more cautious than some were. Some of them were badly burnt and the losses are more damaging to them than to most of the foolish investors who made direct choices. And some of that blame lies with fund managers as well as with Holmes, but driving a car at 90mph past a school isn't less of a crime if some people don't look left and right before stepping into the road or if the council doesn't install adequate traffic calming measures.
itsbruce-
That's just you entering the discussion in bad faith.
Apologies, as usual it's wise not to mistake stupidity for malice. I had a good lunch and decided to take on the internet, the internet won.
I'm actually very much opposed to the way that funds and pensions divert money towards big tobacco, weapons manufacture and oil etc. I don't give the people who invest in these a moral pass. These people also trusted fund managers and that should be a serious decision. If you want to make a case for people being railroaded into pension schemes being hurt I'm all out of sympathy.
So, sorry for derailing your argument but discussing it was an option.
Airhead
Your logic seems really flawed. Of course 'ordinary people' who got hurt are taking a risk by trusting a pension fund to manage their money. They might not be lacking due diligence but 'past performance does not guarantee future income'.