{"id":31456,"date":"2018-02-22T10:07:40","date_gmt":"2018-02-22T15:07:40","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31456"},"modified":"2018-02-22T10:07:40","modified_gmt":"2018-02-22T15:07:40","slug":"find-the-sentence-that-dooms-pension-funds-dont-worry-its-highlighted","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31456","title":{"rendered":"Find The Sentence That Dooms Pension Funds (Don\u2019t Worry, It\u2019s Highlighted)"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/dollarcollapse.com\/pension-funds\/find-sentence-dooms-pension-funds\/\">Find The Sentence That Dooms Pension Funds (Don\u2019t Worry, It\u2019s Highlighted)<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p>The \u201cpension crisis\u201d is one of those things \u2014 like electric cars and nuclear fusion \u2014 that\u2019s definitely coming but never seems to actually arrive. However, for pension funds the reason a crisis hasn\u2019t yet happened is also the reason that it <em>will<\/em> happen, and soon:<\/p>\n<blockquote><p><strong><a href=\"https:\/\/www.wsj.com\/articles\/public-pensions-are-still-betting-more-than-half-of-all-assets-on-stocks-1519131600\" target=\"_blank\" rel=\"noopener\">The Risk Pension Funds Can\u2019t Escape<\/a><\/strong><\/p>\n<p>(Wall Street Journal) \u2013 Public pension funds that lost hundreds of billions during the last financial crisis still face significant risk from one basic investment: stocks.That vulnerability came into focus earlier this month as markets descended into correction territory for the first time since February 2016. The California Public Employees\u2019 Retirement System, the largest public pension fund in the U.S., lost $18.5 billion in value over a 10-day trading period ended Feb. 9, according to figures provided by the system.<\/p>\n<p>The sudden drop represented 5% of total assets held by the pension fund, which had roughly half of its portfolio in equities as of late 2017. It gained back $8.1 billion through last Friday as markets recovered.<\/p>\n<p>\u201cIt looks like 2018 is likely to be more turbulent than what we have experienced the last couple of years,\u201d the fund\u2019s chief investment officer, Ted Eliopoulos, told his board last Monday at a public meeting.<\/p>\n<p>Retirement systems that manage money for firefighters, police officers, teachers and other public workers are increasingly reliant on stocks for returns as the bull market nears its ninth year. By the end of 2017, equities had surged to an average 53.6% of public pension portfolios from 50.3% one year earlier, according to figures released earlier this month by the Wilshire Trust Universe Comparison Service.<\/p>\n<p>Those average holdings were the highest on a percentage basis since 2010, according to the Wilshire Trust Universe Comparison Service data, and near the 54.6% average these funds held at the end of 2007.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Find The Sentence That Dooms Pension Funds (Don\u2019t Worry, It\u2019s Highlighted) The \u201cpension crisis\u201d is one of those things \u2014 like electric cars and nuclear fusion \u2014 that\u2019s definitely coming but never seems to actually arrive. However, for pension funds the reason a crisis hasn\u2019t yet happened is also the reason that it will happen, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[213,273,312,7544,1816,18863,690,753,861],"class_list":["post-31456","post","type-post","status-publish","format-standard","hentry","category-economics","tag-dollar-collapse","tag-equities","tag-financial-crisis","tag-john-rubino","tag-pensions","tag-public-pension-funds","tag-risk","tag-stocks","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31456"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31456\/revisions"}],"predecessor-version":[{"id":31457,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31456\/revisions\/31457"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}