CALPERS managers are idiots - DFWstangs Forums
 
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post #1 of 6 (permalink) Old 12-17-2008, 11:04 AM Thread Starter
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CALPERS managers are idiots

http://online.wsj.com/article/SB1229...ml?mod=testMod
Quote:
Calpers in recent weeks said it expects to report paper losses of 103% on its residential investments in the fiscal year ended June 30. That's because Calpers invested not only its own money, but billions of dollars of borrowed money that must be repaid even if the investment fails. In some deals, as much as 80% of the money invested by Calpers was borrowed. ... Rest by Subscription
Why would a state pension fund borrow money to leverage gains?
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post #2 of 6 (permalink) Old 12-17-2008, 11:06 AM
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To make money for the retirees?
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post #3 of 6 (permalink) Old 12-17-2008, 11:32 AM
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Hey! Lets give our pensions to the gub'ment where its safe!

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post #4 of 6 (permalink) Old 12-17-2008, 11:33 AM
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Quote:
Originally Posted by TexasDevilDog
http://online.wsj.com/article/SB1229...ml?mod=testMod

Why would a state pension fund borrow money to leverage gains?


amazing! and i would like to know which guy thought this was a good idea.
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post #5 of 6 (permalink) Old 12-17-2008, 12:01 PM
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Originally Posted by sc281_99-0135
amazing! and i would like to know which guy thought this was a good idea.
Better fire everyone at every state pension fund in the nation because they all do it.
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