The nation’s largest pension plan approves leverage to meet its targets

MIshTalk/Mish Shedlock/11–16-2021

graphic image of the charge of the lemmings“Despite huge stock market gains over the last decade, U.S. pensions are hundreds of billions of dollars short of what they expect to need to pay public worker retirement benefits.”

USAGOLD note: CALPERS takes a bite of the derivatives apple …… Will it be its last? The Wall Street Journal reports that CALPERS, the nation’s largest pension fund, would now “use borrowed money and alternative assets to meet its investment-return target.”  The low yield environment drags another player into the embrace of high-risk leverage and trading.

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