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Another Liberal Governor Demands His State’s Pension Abandon Fiduciary Duties, Sell Fossil-Fuel Investments

As if public pension managers around the country weren’t having enough difficulty digging themselves out of their massive $3-$5 trillion funding gap, the chorus of liberal governors suggesting they should recklessly abandon their fiduciary obligations to future retirees and choose investments not on their financial merits but rather based on the political preferences of clueless […]


Are “Social Justice Warrior Trustees” Accelerating America’s Pension Collapse? (Hint: Yes)

A few days ago we highlighted the reckless efforts of the San Francisco Board of Supervisors to force their city’s pension managers to ignore their fiduciary duties and dump nearly $500 million worth of energy stocks.  Of course, the pressure to sell had nothing to do with financial projections, trading multiples or discounted cash flow […]


What Fiduciary Duty? San Fran Politicians Try To Force Pension To Dump $470MM Of “Fossil Fuel” Stocks

We’ve frequently argued that public pension underfundings are perhaps the greatest threat to the long-term economic outlook of the United States, if not the globe.  With aggregate underfunding levels of $5-$8 trillion, depending on what discount rate your local politicians decide to pull out of thin air, the forthcoming pension crisis will be too large […]