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Submitted by no_such_reality on January 8, 2013 - 4:37pm
Yep, the July 2011 - June 2012 return on the $200 billion in CalPERS. Page 2, 2nd Paragraph Oh to think back on the knashing of teeth over the draconian reduction of expected return from 7.75% to 7.5%...
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FLU you should contact calpers and show them how to run a portfolio. I would imagine in that same timeframe you did a bit better.
Why would they need to hire me?
Didn't you guys see the unpublished financial statement that is the one they really use???
They did really well, and beat the S&P 500...
You forgot to include the unlisted Mutual Fund they invested in...Ticker symbol MMPWA...
Total Investment Returns July 2011 - June 2012
----------------------------------------------
Investment Returns (every other fund) : 0.14%
Investment Returns from the
Year 20XX Guaranteed CA Taxpayer MMPHA
(Make My Pension Whole Again) Fund* : 15.99%
----------------------------------------------
Total Return on "Investment": 16.13%
*Investment Note: (*) Denotes fund not generally available to the private sector..
----------------------------------------------
What? You think I'm kidding???? Laugh now...Cry later...Probably not that far fetched from reality.
Afterall, heads they win...Tails they win and you (taxpayer) lose...
I think the S&P was up like 10%, just imagine if it had been a bad year LOL.
Not to worry, just cut more services, increase taxes I am sure we make this whole and not have any inflation.
7.5 % from here to eternity and beyond !!!
I am sure they have great management I am sure it was the best team gov planning could put together.
Not to worry, just cut more services, increase taxes I am sure we make this whole and not have any inflation.
7.5 % from here to eternity and beyond !!!
The S&P 500 "idiot" fund tracked closer to 16% last year. Heck, my kid's 529 plan did 19.7% after all the ridiculous fees and that was as passive at it got.
Actually over the same period I think the S&P did a little more than 2%
Keep in mind it's July 1 to June 30 they track. Not calendar year
Reinforces some statiscal studies that basically showing the stock market gain or loss for the year being a matter of being invested on on a handful of key days
Keep in mind it's July 1 to June 30 they track. Not calendar year
Reinforces some statiscal studies that basically showing the stock market gain or loss for the year being a matter of being invested on on a handful of key days
you're right. doh... Not calendar year.