Three U.S. banks thundered, and the victims turned out to be 2.6 million retirees in Sweden. Alecta, the pension fund giant that oversees Sweden's 2.6 million pensions, has been in charge since the last century5

Three U.S. banks thundered, and the victims turned out to be 2.6 million retirees in Sweden.

Alecta, the pension fund giant that oversees Sweden's 2.6 million pensions, has held shares in Sweden's four largest banks since the '50s.

At the beginning of 2021, Alecta didn't know which rib was wrong, but actually liquidated the Swedish Commercial Bank, which had been held for 71 years, and invested the funds in the US stock market, buying Silicon Valley Bank with 8.9 billion crowns, First Republic Bank with 9.7 billion Swedish kronor and signed banks with 3.2 billion crowns.

Unfortunately, all three banks were taken over by the Federal Deposit Insurance Corporation.

Once stepped on the thunder, Alecta is definitely the king of engineers in the global investment community.