Courtesy of Mish.
On July 13, the Fresno Bee reported California’s big pension fund sees flat earnings for a second year.
CalPERS still maintains that its long-term track record of 7.5% returns is intact. Is it?
Reader W.C Varones sorts it out in his article CalPERS Deliberately Deceives Public by Cherry-Picking Dates.
Cherry-Picking Dates by W.C Varones
You probably know that CalPERS recently reported yet another year of investment results that fell far short of its absurd promises.
But did you know that CalPERS is actively, deliberately deceiving the public about its investment promises and results?
CalPERS has a section called “Myths vs. Facts” on its website where it tries to debunk critics of its rosy expected returns, which experts nearly universally believe are too high. Here’s what the site showed until mid-July:
