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downandout
on April 9, 2015
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NYC Pension Earns $40M Over 10 Years, Pays Fund Ma...
I don't think that the pension managers were sophisticated, but rather were idiots. They went to world class bankers to deal with the money, who did a world class job of creating an awesome fee structure for themselves.
VikingCoder
on April 9, 2015
[–]
So then who put idiots in charge of a $160B pension? And why did they do it?
Not expecting an answer from you - I'm saying these become the questions I want answers to.
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