Increase Union Pension Funds - Invest in Grocery Companies
The California Public Employees' Retirement System (CalPERS) governs itself by the use of eight Guiding Principles. Number five:
Obtaining the highest return on our investment portfolio to survive, prosper, and grow in a safe and prudent manner.
It therefore stands to reason that CalPERS would not knowingly want to invest in any stock that is about to tank. They would violate their duty to their constituency by maintaining investments that they know will lose value.
As of December 17, 2003, CalPERS reported that they maintained investments in the following firms:
So how have their investments done since that time?
By comparison, the Dow Jones Industrial average went from $10,129.56 on 12/16 to $10,627.85 on 2/13 (almost 5%).
Looks like CalPERS was smart to invest in grocery companies...
Comments