Oh, that’s reassuring

CalPers, the enormous State of California public pension plan has decided the best way to make up for their catastrophic losses is by doubling down. Surely if something was a bargain at $10, it’s even more of a bargain at $5, right?

Of course, whatever they lose must be made good by the State – i.e. the taxpayers – as pensions by law must be fully funded.

Question For CalPERS

If Calpers is so astute with “positive opportunities”, how the hell did it manage to lose 23.4% last year?

I’m not sure what’s more annoying about them, their sluggish, inept behavior or bizarre arrogance that they know what they’re doing.