I picked a no comments piece to put this. This is what Tasty means when observing gambling behavior in pension funds. A theoretical argument could be made for a very small high beta portion of the portfolio to be treated as described. Veeeeery small. Hopefully San Diego will come to its senses. One worries, though, that the confluence of the Fed and underfunded pensions will not encourage such agregious yield chase.
I could not follow your link, but it does not look like what I have been saying. Day Trading, other short term yield chasing, or CDS schemes are not the same as bond investments. There are different ratings on bonds, and there are different returns on bonds.
By this time either you cannot or will not understand what I am saying. If you believe that every portfolio manager is free to use any type of asset and any quality, I am happy for you.
Do you have flood insurance on your new house in Florida? If so, did you purchase a non-government backed policy? If not, welcome to the real world.
Let me connect the dots. In the second paragraph, you are living in a fantasy world. In the third, you were living in a fantasy world until reality hit you on the head.
I am not like the usual people you debate. I do not repeatedly spout some mindless crap (“no doc loans, no doc loans, no doc loans”) I read from some idiot who got their knowledge from some other idiot. I actually try to get as much primary knowledge as possible. I may not get the exact terms correct, but I understand the concepts.
I defend Wall Street, bankers, financial products, etc. and attack them when I feel they deserve it. If it disturbs you or anybody else that I do not tow a party line, to bad so sad. If it makes you feel any better, the sheep will always beat me in the end. There are more of you than me.
I picked a no comments piece to put this. This is what Tasty means when observing gambling behavior in pension funds. A theoretical argument could be made for a very small high beta portion of the portfolio to be treated as described. Veeeeery small. Hopefully San Diego will come to its senses. One worries, though, that the confluence of the Fed and underfunded pensions will not encourage such agregious yield chase.
http://www.com/news/2014-09-19/pension-fund-daytrading-your-retirement-funds-500-leverage
….Put this off topic…..
@Drew
I could not follow your link, but it does not look like what I have been saying. Day Trading, other short term yield chasing, or CDS schemes are not the same as bond investments. There are different ratings on bonds, and there are different returns on bonds.
By this time either you cannot or will not understand what I am saying. If you believe that every portfolio manager is free to use any type of asset and any quality, I am happy for you.
Do you have flood insurance on your new house in Florida? If so, did you purchase a non-government backed policy? If not, welcome to the real world.
Let me connect the dots. In the second paragraph, you are living in a fantasy world. In the third, you were living in a fantasy world until reality hit you on the head.
I am not like the usual people you debate. I do not repeatedly spout some mindless crap (“no doc loans, no doc loans, no doc loans”) I read from some idiot who got their knowledge from some other idiot. I actually try to get as much primary knowledge as possible. I may not get the exact terms correct, but I understand the concepts.
I defend Wall Street, bankers, financial products, etc. and attack them when I feel they deserve it. If it disturbs you or anybody else that I do not tow a party line, to bad so sad. If it makes you feel any better, the sheep will always beat me in the end. There are more of you than me.
With all due respect, that was incoherent.
@Drew
Is it missing the minimum golf references?