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I said the public at large via retirement funds. Teachers get less because CalSTRS lost money* either via direct purchase or through asset managers. * Just an
by treis 8y ago
I said the public at large via retirement funds. Teachers get less because CalSTRS lost money* either via direct purchase or through asset managers.
* Just an example I don't know if they bought into the IPO or not.
- throwaway2048 8y agoLarge index weighted funds don't buy into IPOs until significantly after the fact.
- jpmattia 8y agoReally? For the CalSTRS example, they issued PR that they bought into the FB IPO, and had also bought into pre-IPO private companies. eg: > CalSTRS has owned shares in Facebook, Inc. since its initial public offering in 2012, as well as through privately held assets prior to the IPO. https://www.calstrs.com/statement/calstrs-ongoing-engagement-facebook-focuses-risk-mitigation https://www.calstrs.com/statement/calstrs-ongoing-engagement...
- mfatica 8y agoSomething run by California was mismanaged you say? I'm terribly shocked