From 2 years ago...
https://gop.com/blog/californias-state-pension-invests-millions-in-chinese-state-owned-companies/
CalPERS has not and will never have a high rate of return. Taxpayers will have to bail out pensioners. You can take that to the bank.
Three years ago I would’ve said since I was born here I’ll die here. The way things are going I’ll be out of here by the end of next year.
"For example, under the “social” framework, there is tremendous value in an investor’s ability to verify a company’s data security, as breaches can cause litigation, loss of customer loyalty, and other impacts to profitability."Data security is a critical issue, no doubt. But to identify it as your #1 example of a "social score" in ESG in the introduction is just ludicrous. If you ranked all the "social" scores in ESG, you would probably find data security dead last.
They stuck it up there in the intro to make people believe ESG is good.
ESG will just cause CalPers to go belly up sooner. But don’t worry pensioners on CalPers, the Feds will bail you out.
You all know how this is going to end, right? CA public retirement programs are going to go bust when their ESG crap chases a lot of investors away and they will be begging the US taxpayers to bail them out.
I wish I knew of a way to capitalize on the delusional “socially responsible” and ESG investment strategies of “woke” liberals, backward progressives and dumb-ass democrats. However, it would have to be legal.
ESG will make things worse.
CalPERS’ funded status falls 11 percentage points to 71%
https://www.pionline.com/pension-funds/calpers-funded-status-falls-11-percentage-points-71
CalPERS CIO: Pension fund missed out on some private equity returns in past 10 years
https://www.pionline.com/pension-funds/calpers-cio-pension-fund-missed-out-some-private-equity-returns-past-10-years