Only a fiscal miracle can save some underfunded public pensions. Bankruptcy judges are not in the miracle business.
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Nothing Sacred In Bankruptcy
Tag Archives: CalPERS
Unsophisticated Investors Come In All Sizes
Surprise! CalPERS discovers that hedge funds are expensive, and they don’t magically make money.
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CalPERS Deflates Its Expectations
California’s state pension system corrects its estimate of investment returns — but it’s probably still wrong.
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