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To: philv who wrote (209)	1/15/2003 6:28:13 PM
From: philv	Read Replies (1) \| Respond to of 1210

Canadian gov't public pension: A few years ago and due to public demand, the Canada Pension Plan was allowed to enter the equities markets (limited by legislation) inorder to get those superior returns. Well, they did good the first couple of years, and probably thought they were investment geniuses. It has been rough since then, and those assured easy returns turned negative. cppib.ca You will note total equity investment is about $17 Billion (and growing), Bonds $38 Billion. I bring this up only because of the unforseen negative implications where least expected in times of financial melt-downs. Kinda like what has also been occurring in private pension plans. I have heard of some big losses. These are big bucks going into the equity and financial markets, and these funds are getting fresh money constantly looking for a home. The cheer leaders for the markets are indeed legion and so should be. Many don't realize what stake we all have in the markets. Little wonder why the P/E ratios are as high as they are when some of these funds MUST invest.