New York public employees union will vote on pulling out of hedge funds

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It’s a really good move! A significant portion of the investor class manages the retirement funds of blue-collar workers, and so the investment strategies of unions can have a real impact on where the demand is telling those investors to go.

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Let them invest wherever they desire, just as long as they don’t come to the taxpayers for a bailout if the returns fail to materialize.

At this point it is fiscally irresponsible for pension funds to be invested in these things. Opacity and high management costs are a good enough reason to pull out any kind of money which is meant for safe investing growth. The City of New York is doing right by its workers here.

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Sounds like their Hedge Funds have put the New York public employees union’s NYCERS in a twist.

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Huzzah!

Best we starve the beast.

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They’re finally paying attention to the Efficient Markets Hypothesis?

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