Posted on 01/14/2004 9:47:46 AM PST by NormsRevenge
Edited on 04/13/2004 2:49:25 AM PDT by Jim Robinson. [history]
The University of California could have earned up to $4.8 billion more on its investments for retirees during the past decade simply by outsourcing them to good advisers.
And when a UC regents' committee decided to do just that by firing the university's internal investment staff, it buried the announcement by timing it for Election Day on Nov. 5, 2002 -- hoping the media would have their hands full with other news.
(Excerpt) Read more at mercurynews.com ...
They should take a look at the junk investments in CalPERS.
Not to worry... lots of taxpayers to cover the losses. /sarcasm
I wonder if they invested in wind energy farms, electric cars, low-flow toilets that have to be flushed three times to work, plastic bottle recycling, low-income housing in San Francisco, NFL franchise relocations, and loans to the fledgling "republics" spun off from the Soviet Union.
The article doesn't really outline the specifics of the under-performance. I bet there are many interesting stories still hidden.
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