CalPERS has a near negative 10% return on its $900M in clean technology investments, according...

CalPERS has a near negative 10% return on its $900M in clean technology investments, according to CIO Joseph Dear. "This has been a noble way to lose money," he says. The state's public employee retirees (and those expecting someday to retire) must be thrilled.
Comments (7)
  • Ron Myers
    , contributor
    Comments (255) | Send Message
    This is California - the fact that 90% is still left is bullish!
    21 Mar 2013, 01:13 PM Reply Like
  • wigit5
    , contributor
    Comments (4365) | Send Message
    it's okay there are tons of jobs out there for them to work while retired.
    21 Mar 2013, 01:17 PM Reply Like
  • rhgordon3505
    , contributor
    Comments (28) | Send Message
    this is almost too funny and predictable on which to even comment, but when will public sector investment/pension managers wake up and realize their fiduciary responsibility is to maximize returns and not to use their positions as a test-tube for their public policy advocacy?
    21 Mar 2013, 01:25 PM Reply Like
  • Tack
    , contributor
    Comments (16515) | Send Message
    The financial return on political correctness is exactly as one would expect and a should provide a belly laugh to anybody connected to reality.
    21 Mar 2013, 01:36 PM Reply Like
  • Pwdrskir
    , contributor
    Comments (134) | Send Message
    It’s all Smoke and Mirrors, GASB is about blow the dam:
    "Back in February the California Public Policy Center (CPPC) published a study entitled “How Lower Earnings Will Impact California’s Unfunded Pension Liability,” where, using various rates of annual investment earnings, the number ranged between $128 billion and $576 billion. This study and others highlighted the fact that starting in 2014, not only will Moody’s Investors Services begin using a much lower investment projection in their credit analysis, but GASB – the Government Accounting Standards Board – will require government entities to recognize this liability on their balance sheets."


    2 Very good reads to get more info:
    21 Mar 2013, 01:25 PM Reply Like
  • Pwdrskir
    , contributor
    Comments (134) | Send Message
    CA in not about what's good for the people, it's about what the "now in charge" Hippies want...


    Feb 19, 2013 - "CalPERS investment committee voted on Tuesday to sell its stakes in two (gun) manufacturers..."


    March 21, 2013 - As Gun Sales Spike In Anticipation Of New Federal Regulation, What Companies Are Benefiting?
    21 Mar 2013, 01:30 PM Reply Like
  • petten
    , contributor
    Comments (121) | Send Message
    What's even worse is that their return shortfall will have to be made up by imposing more and higher taxes on people.
    21 Mar 2013, 02:40 PM Reply Like
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