Tech Wreck! Norway's Giant Fund Loses a Fortune! Is Your Money Safe?

Aw Phooey! Forty BILLION Gone!

Well what in the name of Huey Dewey and Louie is going on here?! Yours truly Donald Duck reporting live from my lily pad (it’s cozy I tells ya!). And I'm squawking about some seriously daffy news! Norges Bank Investment Management – that’s a fancy name for Norway’s piggy bank and the biggest one in the world mind you – just reported a loss of... wait for it... 415 billion kroner! That's $40 BILLION in US money! Oh boy oh boy oh boy! Now I'm no Scrooge McDuck but even I know that's a LOT of clams!

Tech Troubles: Not Just for Gadgets!

According to Nicolai Tangen the big cheese at Norges Bank all this happened because of market fluctuations. Whatever that is supposed to mean! The big loser according to him was technology investments. Those pesky computer companies and whatnot. Remember when I tried to build a robot butler? Boy did that backfire! Maybe Norway should stick to fjords and leave the tech to Gyro Gearloose. He would make it right! This fund has 70% of its investments in those stocks and is worth about $3.4 trillion. A little more than my pocket change I'd say.

Currency Chaos! Blame It on the Krone!

If tech wasn't enough the Norwegian krone decided to do a jig of its own! The fund also said that currency changes cost them a whopping 879 billion kroner! (Who needs THAT many kroner?!) The krone got stronger they say. Apparently strong money is BAD money in this case. Go figure! I always thought a strong beak was a good thing. Quack!

Not All Doom and Gloom Says the Duck!

Now hold your horses! (Or ducks in my case.) It's not ALL bad news! Those boring ol’ fixed incomes (27.7% of the fund) actually made a little money! And real estate did okay too! Up 2.4%! So maybe Norway should just buy a bunch of houses and call it a day. More money than brains sometimes! If you ask me... and nobody did!

Big Tech Big Problems... For Norway!

These Norsk ers have their fingers in all sorts of pies... Meta Alphabet Amazon Nvidia Tesla and Microsoft. But it looks like this AI boom is turning into an AI BOOM! Because this drop comes after a three week sell off of tech stocks in March that wiped out $2.7 trillion. But before that there was also a sell off in January led by a Chinese company DeepSeek which is saying they have the same models as Open AI but at a fraction of the cost. I smell foul play! That's not very sporting! I ought to go over there and give them a piece of my mind!

From Riches to... Slightly Less Riches?

Just earlier this year they were bragging about a record $222 billion PROFIT! Thanks to that AI boom they said! So what changed? Did they spend all the money on lutefisk? Did someone let Pete near the stock portfolio? I tell ya it's enough to make a duck pull out all his feathers! (Please don't tell Daisy I said that!). Well that's all folks. Donald Duck signing off. I'm going to go count my pennies... just to make sure they're still there. Aw phooey!