CalPERS dabbling in dangerous investments again

Published: Thursday, Jul. 25, 2013 - 10:07 am

Re "CalPERS opens wallet for properties in L.A., Moscow" (Business, July 19): It feels like 2006 all over again!

A "position" in a 2.2-million-square foot shopping center in Moscow? Did anyone bother to fly over there and check it out? Or $660 a square foot for office buildings in downtown L.A., a new record high price? How does that pencil out?

Given the pension fund's track record in speculation in everything from silver to partnerships in real estate ventures, it seems its leaders never learn. Oh well, there will always be the taxpayers to pick up and make good the losses, right?

-- Jack Edwards, Folsom

© Copyright The Sacramento Bee. All rights reserved.



Sacramento Bee Job listing powered by Careerbuilder.com
Quick Job Search
Sacramento Bee Jobs »
Buy
Used Cars
Dealer and private-party ads
Make:

Model:

Price Range:
to
Search within:
miles of ZIP

Advanced Search | 1982 & Older

TODAY'S CIRCULARS