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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (2228)	3/16/2004 7:00:10 PM
From: Tommaso	Read Replies (1) of 116555

I can tell you that the good condition of the North Carolina pension fund owes nothing at all to the current State Treasurer or any of his boards of advisors. It is entirely the result to decades of conservative (read:stingy) earlier management. The current state treasurer has lost billions by turning the fund over to "experts" (i.e. Alliance Capital) in the last 5-6 years. Billions of U.S. Treasury bonds were cashed in and put into Cisco, etc. at the height of the Tech Bubble. It is pure luck that this yo-yo did not get control earlier.

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