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Thursday, September 11, 2008

Shelter From The Storm

In a followup to the post of several days ago, Ley Garnett of the Oregon Treasury, emailed to correct an error he made in providing me with information about PERS' holdings in Freddie/Fannie. As it turns out, Ley reports (consistent with State Treasurer Randal Edwards) that the PERS fund only holds 0.2% in Freddie/Fannie stock - an almost trivial amount in a $60+ billion portfolio. And it is also the case that the PERS fund has weathered the latest round of slashing and gashing on Wall Street better than most. The reports I am reading (not from Treasury) suggest that the PERF is only *down* about 6% for the year so far with 3+ months to go. I can say that the Oregon Investment Council has done far better than I have. They have a lot more money to diversify with. [Help this poor soul out. Buy Apple stock. :-) ]

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