7.20.2022

Seems legit

WSJ:

Calpers’ stock portfolio returned minus 13.1%, while bonds returned minus 14.5%, the pension fund said. Those losses delivered a double blow for retirement funds and other savers who have long relied on those two assets to move in opposite directions.

Private equity and real estate returned 21.3% and 24.1%, respectively.
It's a CalPERS miracle! 

Everything with observable market prices went down, but everything CalPERS values subjectively went up! By double digits!

2 comments:

George Weinbaum said...

Imagine. The PCAOB thinks CPAs can "audit" "fair values".
Wow

K T Cat said...

That pension gap just keep getting bigger.

Seems legit

WSJ : Calpers’ stock portfolio returned minus 13.1%, while bonds returned minus 14.5%, the pension fund said. Those losses delivered a doub...