Posted by on Mar 22, 2019 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Alex Nabaum


By Jason Zweig  |  March 22, 2019 9:00 a.m. ET


You can learn a valuable lesson from the nation’s largest public-pension plan: Be careful how high you set your expectations. You might have to try to meet them.

The $358 billion California Public Employees’ Retirement System has been studying whether to adopt a new approach that would increase its private-equity holdings. The giant organization already has nearly $28 billion, or 8% of assets, in such funds, which invest in startups or in corporate buyouts. Calpers’ board voted in principle March 18 to move forward with a plan that could funnel up to $20 billion into such venture and buyout funds over the next decade.


To read the rest of the column:


For further reading:


Benjamin Graham, The Intelligent Investor

Jason Zweig, The Devil’s Financial Dictionary

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Little Book of Safe Money


Articles and other resources:

Verdad Capital, “Lessons from Oregon

Research papers by Steven Kaplan, University of Chicago Booth School of Business

Betting Like Buffett

Smart Money Takes a Dive on Alternative Assets

Private Equity for Cheapskates Like You