October 2015 - W.C. Varones

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10.21.2015

Bye-ku for Joe Biden

10.13.2015

CalPERS to lower return targets -- but only if it has a really big year first

2:54 PM 0
WSJ:
The officers that run the largest U.S. pension fund are proposing to lower their investment goals for the first time in four years, a move that could lead to higher contributions for government workers as well as cities and counties across California.

The plan from the California Public Employees’ Retirement System, which will be considered by its board next week, would trigger a reduction in the fund’s current 7.5% return assumption following profitable years when it earns more than expected.

[...]

The new proposal outlines a range of scenarios where Calpers would lower its return assumptions in years when investing profits top internal goals by 4% or more.
Mmmmm-hmmmmm.... So you're coming off one of the biggest stock market rallies in history, stocks and bonds are both near all-time high prices, but you're not going to do anything unless your balanced portfolio goes up another 11.5% in a year.


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10.11.2015

Waiters gone bad

6:08 PM 0
La Jolla Light:
After leaving work at NINE-TEN Restaurant around 11:30 p.m. Wednesday, Sept. 30 and walking south on Draper Avenue, a man came around the corner by the post office wearing a Halloween mask, hooded sweatshirt and baggy pants and aiming a handgun at me while shouting at me to give him my purse.
I wonder if he showed up for his shift the next day.
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