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But do they? Some of these LPs (especially college endowments) are so large that they are the tail that wags the dog.
by seem_2211 7y ago
But do they? Some of these LPs (especially college endowments) are so large that they are the tail that wags the dog.
- harryh 7y agoYes, they do. CalPERS is way larger than any college endowment....but it also has obligations that are way larger.
- seem_2211 7y agoI'd make the argument that something like Calpers is quite different to a college or hospital endowment. Calpers has a huge deficit, whereas Harvard has far more than they're likely to ever spend (especially considering the fact that colleges with the largest endowments also attract enormous donations from wealth individuals).
- harryh 7y agoYou're basically making a point about the Harvard endowment and like maybe....5 other college endowments? This is a small percentage of the LP pool, so....not all that important to the discussion.
- StillBored 7y agoIsn't a large part of CalPERS problems related to the fact that they ended up being the one holding the potato when the housing crisis started? I thought before that they were very solvent.