The Stupidity of “Smart Money”
April 07, 2019 at 11:30 AM EDT
By Jay Mooreland via Iris.xyz Calpers, one of the largest and most respected pensions in the world, is sounding desperate. At a recent board meeting, their Chief Investment Officer said, “We need private equity, we need more of it, and we need it now.” Why do they need more private equity, and...