Money and Finance
- The Canadian Model: Invented In South Dakota?
Found via Abnormal Returns. It looks like the South Dakota Annual Report is also available HERE. What public pension system in the US of A is the best? Seriously, take a second and jot down the retirement system or investment council you think generates...
- Pensions Find Riskier Funds Fail To Pay Off
Thanks to Phil for passing this along. Searching for higher returns to bridge looming shortfalls,public workers’ pension funds across the country are increasingly turning toriskier investments in private equity, real estate and hedge funds. But while...
- Gates Says Benefits Costs Hit Schools
Billionaire philanthropist Bill Gates will step into the national debate over state budgets Thursday with a call for states to rethink their health care and pension systems, which he says stifle funding for public schools.Mr. Gates in an interview said...
- Public Pension Funds Are Adding Risk To Raise Returns
Does anyone think this is likely to end well? States and companies have started investing very differently when it comes to the billions of dollars they are safeguarding for workers' retirement. Companies are quietly and gradually moving their pension...
- The New Untouchables - By Thomas Friedman
Last summer I attended a talk by Michelle Rhee, the dynamic chancellor of public schools in Washington. Just before the session began, a man came up, introduced himself as Todd Martin and whispered to me that what Rhee was about to speak about — our...
Money and Finance
South Carolina’s Pension Push Into High-Octane Investments
MANY mornings, the yellow Lamborghini would swing into view, sweep past tree-softened streets with a low, smooth rumble and throttle down outside an office near the State House downtown.
Behind the wheel was a financier named Robert L. Borden. Around Columbia, a city decidedly more Ford than Lamborghini, his exotic supercar gave him the air of a Wall Street hotshot. In truth, Mr. Borden was a civil servant — a very highly paid one. Until recently, he was the investment chief of South Carolina’s giant public pension system.
It turns out that Mr. Borden liked his investments the way he liked his cars. Which is to say, fast. With the help of some big names on Wall Street and a nod from officials here, he transformed this state’s go-slow public pension system into one of the most high-octane in the nation. So far, though, the results have been mixed. The long-term consequences — for retirees, public workers and taxpayers here — are as yet unknown.
- The Canadian Model: Invented In South Dakota?
Found via Abnormal Returns. It looks like the South Dakota Annual Report is also available HERE. What public pension system in the US of A is the best? Seriously, take a second and jot down the retirement system or investment council you think generates...
- Pensions Find Riskier Funds Fail To Pay Off
Thanks to Phil for passing this along. Searching for higher returns to bridge looming shortfalls,public workers’ pension funds across the country are increasingly turning toriskier investments in private equity, real estate and hedge funds. But while...
- Gates Says Benefits Costs Hit Schools
Billionaire philanthropist Bill Gates will step into the national debate over state budgets Thursday with a call for states to rethink their health care and pension systems, which he says stifle funding for public schools.Mr. Gates in an interview said...
- Public Pension Funds Are Adding Risk To Raise Returns
Does anyone think this is likely to end well? States and companies have started investing very differently when it comes to the billions of dollars they are safeguarding for workers' retirement. Companies are quietly and gradually moving their pension...
- The New Untouchables - By Thomas Friedman
Last summer I attended a talk by Michelle Rhee, the dynamic chancellor of public schools in Washington. Just before the session began, a man came up, introduced himself as Todd Martin and whispered to me that what Rhee was about to speak about — our...