yeah, all the talk about pension funds being awash in these bad investments may be overblown. i thought it’d be a mess too, but thinking about the actual number “140 million” made me wonder how much exactly is calpers worth. turns out, billions so this loss is just… roadkill… wipe out the whole thing, it’s a 5% loss on the portfolio, but considering how much they made on the ride up…

i guess the real question is: what is the pensioner’s return on his “investment”?

edit: nevermind 5%… .5% now? i wonder how much of that value is due to asset appreciation and how much due to increased contribution…