CalPERS - going for broke!

The largest U.S. pension fund is ramping up its exposure to private equity and private credit in a $34-billion bet that the riskier assets will fuel higher returns.

As we have seen over the last several years. the PE model would, in other countries, be “fraud by conversion”, but it’s perfectly legal here. Fraud is usually more profitable than ethical business. Calpers is looking for the highest return. As the PE fraud model appears to be legal, and highly profitable, that is where Calpers needs to invest.

…unless a COMMIE!!! government takes over and outlaws the PE fraud model.

Steve

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CalPERS needs higher returns to try to close their massive unfunded pension liability gap.

Best of luck to them.

DB2

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CalPERS - going for broke! CalPERS IS broke.
This is news? Gov. Arnold Schwarzenegger tried to enroll new hires in the prison system and the CHP into a 401k retirement plan back in 05. That got him voted out of office muy pronto.
California’s CalPERS retirement plan is too generous with CHP officers retiring with 85% pay at 55.
Arnold is the last guy to try to create a viable solution for CalPERS

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Is 65-70 year-old police officers and prison guards what you want in your state?

Exactly what I was thinking. Will a 65 year old policeman be able to run down a 25 year old perp? How about a 65 year old driving a police car in a high speed chase? Mario Andretti had better reflexes than the average policeman, but he retired from racing at age 54.

Steve