Man, I just had to post this!
97% of the gain above the expected return went to management fees.
[quote=http://mobile.nytimes.com/2015/04/09/ny ... gains.html]The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.
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Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains
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MachineGhost
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Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
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Libertarian666
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Re: Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains
And your point is? 