[NRx]

Seriously? These people have never heard of index funds and or don't know why long term they almost always outperform actively managed portfolios? Either these people are dumber than a pile of rocks or they have their nose up Wall Street's @$$. My guess is the latter.

[WayneS]

The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return...

I thought that was what "money managers" did...

[ricmc2175]

Yes they have gotten something. The received substantial donations to Democrat candidates.

[faithhopecharity]

They keep paying fees because they’re secret kickbacks. Or? Otherwise they could just invest in low cost funds like vanguard and many of fidelity s or American century’s. Follow the money and look for who leaves the state offices much much much richer than when they went in

[SSS Two]

I don’t believe this story is true. Given that it appears in the New York Times gives me additional reason to doubt it.

[SSS Two]

Either these people are dumber than a pile of rocks or they have their nose up Wall Street's @$$. My guess is the latter.

Or the New York Times is reporting flat out inaccurate "news". Did you consider that?

[hosepipe]

Obama’s been pee’ing on America’s leg telling them “the rain is warm today, isn’t it?” for almost 8 years now...

It’s getting a bit RIPE out there..
However; New Yorker’s LOVE the acrid stench and metallic trace of it..

Where “Stealing” is an art.. even good entertainment..
Where “break a leg” and “get a nose full” are idioms..

[ken5050]

Read between the lines...

This comes from Bill de Blasio..who HATES Wall Street, and who just refused to endorse Hillary, because she and Bill are too close to Wall Street

[WKUHilltopper]

What do you expect from criminals?

[Buckeye McFrog]

Building the case for the Theresa Ghilarducci proposal to nationalize all pension plans, as traders on Wall Street are too greedy and corrupt to be trusted with your retirement. If this is in the news then they are getting closer to pulling the trigger on it.

[CriticalJ]

Maybe these pensions can find some nice mortgage based derivatives to invest in.

[kearnyirish2]

Any fund will have transaction costs, and even index funds need trades to keep them in line with indices.

We always use the net return (net of fees) when evaluating managers.

[SVTCobra03]

These people have never heard of index funds and or don't know why long term they almost always outperform actively managed portfolios?

If you are retired and need an income stream, index funds don't perform.

http://investorplace.com/2014/03/dividend-investors-index-funds-wmt-yhoo-brk-a-brk-b/

[SkyPilot]

Wall Street: sucking off of $4 Trillion that was "pumped" by the Fed.

These people are not "investors." Investors used to be about economic growth, industry, and jobs. Today's Wall Street hucksters are nothing more than gambling addicts sitting at the Fed slot machine.

When this bubble bursts, there will be blood on the walls.

[Kid Shelleen]

Whenever conservatives talk about privatizing social security the first things liberals say is that the stock market is too unstable for common folk. Then they go right ahead and invest civil pension money with a bunch of corrupt cronies.