Back-to-basics investing
By KELLY CANDAELE
As a trustee of the Los Angeles City Employees' Retirement System, every week I receive materials in the mail from money managers imploring me to consider investing in their strategy for generating high returns for our $10-billion pension fund. One of the most fascinating -- and revealing -- set of marketing materials comes from a company that lists the following options for investing our fund's money: credit default swaps, merger arbitrage strategies, collateralized debt obligations, interest rate...


Previous