CalPERS learns social responsibility can be a drag

Reuters ^ | April 5, 2016 | Kevin Allison

[C19fan]

CalPERS is learning that social responsibility can be a drag. The $290 billion California pension manager may reinvest in tobacco stocks after a report found that exiting the sector cost it $3 billion of potential investment gains over 15 years. There’s more to the idea than higher returns, though. Engaging financially with controversial firms can be a better way to effect change.

[C19fan]

NO problem because when CalPers politically motivated investment strategies blow up the CA taxpayer is there to make up the difference.

[Rusty0604]

That’s what they are counting on.

[DUMBGRUNT]

...he worked at an investment bank.... Kevin holds degrees from Harvard University and the University of Missouri-Columbia.

An interesting CV for a Reuters reporter.

Not to make too much fun, but is still on parole or something?