"In addition to magnifying losses as well as gains, leverage carries an extra risk on the downside that isn’t offset by accompanying upside: the risk of ruin.” Howard Marks "Borrowing works both ways. You are compromising margin of safety if you borrow." Jean Marie Eviellard
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The Calpers plan advanced by the chief investment officer is: "Bold"! Also: "Ambitious"!pic.twitter.com/IwozMfOdrw
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"CalPERS' return was -0.4% for the year, 4.6% for the three-years, 4.7% for the five years, 7% for the 10 years and 5% for the 20 years ended March 31."https://www.pionline.com/pension-funds/calpers-adopts-new-contribution-rates …
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This ends well
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"take more risk"....is there any other way to get 7% ?
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Wild that ft article comes out the same day as this one https://www.google.com/amp/s/amp.ft.com/content/803cff77-42f7-4859-aff1-afa5c149023c …
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What could go wrong
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