Memo to CalPERS: The Market Won’t Provide High Returns Just Because You Need Them
A professional fund manager describes why CalPERS’ private equity strategy is irrational.
Read more...Category Archives: Private equity
Who’s Behind Trump’s Claim the Green New Deal Will Cost $100 Trillion?
President Trump’s claim that the Green New Deal would cost $100 trillion can be traced back to the Manhattan Institute, a think tank backed by fossil fuel investor Paul Singer and companies like ExxonMobil.
Read more...Prominent CalPERS Beneficiaries Send Forceful, Savvy Objections to the Proposed Private Equity Scheme; Contrast With Canned Letters CalPERS Pressed Allies to Submit
As important stakeholders sound alarms, more evidence that CalPERS can’t make an honest case for its “new” private equity scheme and is calling in chips in a big way to cover for that.
Read more...JJ Jelincic: CalPERS’ Plan to Create 2 New Private Equity Companies, Give Away Billions With No Control Makes No Sense….Except to Make Fund Managers Rich
CalPERS still can’t justify its new private equity business model, and has even retreated to calling it just a concept, yet it wants the board to sign a blank check at next week’s meeting.
Read more...CalPERS/Investor Alert: Award Winning Study Debunks “Warren Buffett” Fund Strategy; Buffett Does Better in Stocks Than Private Companies
Warren Bufett’s own experience calls “Warren Buffet funds” into question.
Read more...CalPERS CEO Marcie Frost Gives Contradictory, Nonsensical Justifications for Muscling the Board to Approve Private Equity Scheme in March
Frost’s justifications for CalPERS new private equity scheme becomes more incoherent as time goes on, but that is unlikely to prevent the captured board from giving it a green light.
Read more...Wall Street Journal Story Confirms That CalPERS Plans to Overpay Grossly in Its New Private Equity Scheme
More proof (as if you needed it) that CalPERS is clueless.
Read more...Los Angeles Times Barks Up the Wrong Tree With CalPERS/American Media Inc. (National Enquirer) Story
The Los Angeles Times tells the story of a CalPERS investment misfire to maximize the outrage factor, and does taxpayers a huge disservice by missing who the real perps were (mind you, not to say that CalPERS isn’t too easy a mark….)
Read more...CalPERS Chief Investment Officer Ben Meng Lied About Private Equity to State Senator Dr. Richard Pan at Joint Pension Committee Hearing
CalPERS lied to the wrong person. State Senator Dr. Richard Pan is smart enough to know he was snookered when word gets back to him.
Read more...CalPERS’ Management Continues to Lie to Its Board and Beneficiaries About Its Private Equity Scheme
CalPERS is once again up to no good on the private equity front.
Read more...Even More on “Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?”
It has taken three posts to unpack all the lies that John Cole told CalPERS’ board in December about its new private equity scheme.
Read more...Even Endowments Not Beating Vanguard….So What Good Are Those High Fee Private Equity and Hedge Funds?
Even endowments, the supposed best of best among diversified investors, are finding that their old alternative investment mojo isn’t working these days.
Read more...Reining in Leveraged Lending
Yves here. This article pre-supposes that readers understand that most leveraged lending is taking place as a result of private equity, via two routes. First, private equity funds use a great deal of borrowed money when buying companies. One of the biggest sources is so-called leveraged loans, which are normally originally made by banks, but […]
Read more...More on “Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?”
More on how CalPERS will get its pockets picked in its newfangled private equity scheme.
Read more...Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?
CalPERS is at it again…this time in the form of its private equity architect John Cole showing the world that he is way over his head.
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