Editorial by the San Diego Union Tribune
In 2013, commenting on a $900 million investment in “cleantech” enterprises that was going horribly, CalPERS’ chief investment officer declared, “This has been a noble way to lose money.” CalPERS also famously scrapped its investments in tobacco stocks in 2000.
Now, thankfully, CalPERS leaders have figured that they need to focus like a laser on good returns.
