enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Sunday, July 29, 2007

Posted 7/29/2007 05:35:00 PM by Douglas

I'm not a big fan of managed pension funds, but something about this one that stinks. State workers paid with confiscatory tax money investing on something that's illegal in Texas? How does that fly?

The Teacher Retirement System board voted Friday to target nearly a third of its $112.5 billion in holdings to alternative assets like private equity, hedge funds and real estate — and to make a casino project the first direct investment under its new real-estate strategy.

The plan to diversify the pension fund has drawn national attention, with alternative investments viewed by some as potentially riskier, albeit with potentially higher returns.

Well, duh. Higher risk better have higher returns, or you are stoo-pid. But still, you'd think TRS would shy away from historical Mob-related investments, especially after losing $35 Million to Enron.

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