July 26, 2009

An Investment Idea So Fucking Foolish, Only California Could Dream It Up.

This plan is so risky, Homer Simpson is telling California this is a bad idea.

[Joseph A. Dear, the fund’s new head of investments] wants to embrace some potentially high-risk investments in hopes of higher returns. He aims to pour billions more into beaten-down private equity and hedge funds. Junk bonds and California real estate also ride high on his list. And then there are timber, commodities and infrastructure.

That’s right, he wants to load up on many of the very assets that have been responsible for the fund’s recent plunge.

Only thing missing? Unicorn farts. That's about as wise as doubling down on the shitty deals that brought you to this point.

Gah! Good thing California has a fiscal conservative in Sacramento.

Posted by: eddiebear at 12:53 AM | Comments (6) | Add Comment
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