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.

Mmmkay....

President who usurped Congressional spending authority to issue an executive order handing out hundreds of billions of dollars right before ...