[Topspinmo]

Originally Posted by Boomer

STRS, the State Teachers Retirement System of Ohio, is under serious controversy with some big questions about finance and transparency. ‘CHAOS’ is the word being used in some headlines in the Buckeye State.

WCPO in Cincinnati has a May 16 article on their site that addresses the reasons for the questioning of those who have been handling the investments of the fund’s $65 Billion.

Even if you are not a retired Ohio teacher but are someone whose retirement funds are in someone else’s hands, you should probably read about this mess.

Boomer

PS: All Bogleheads and other index fund investors will appreciate the part about those “actively managed” funds. Not only Bogle, but also the famous book “A Random Walk Down Wall Street” by Burton Malkiel prescribed index funds decades ago.

The mess in Ohio is looking like a classic example of what can happen if the wrong people get their hands on other people’s money. “Where there’s smoke” ??? ……..

When it comes to choosing who gets to invest other people’s money, scrutiny of the advisory is of top importance. Too many wolves out there merrily guarding lambs. BILLIONS! EEK! I guess we will see where this one goes.

Not to worry they get bailed out just like GM and banks too big to fail. It’s only paper money being printed.