A recent article in Reuters reported on the findings of the National Conference on Public Employee Retirement Systems. The Conference noted that the stock market performance since the financial crisis in 2008-2009 means that many “public pension funds … (are) on track to meet obligations.”
We took up the topic of public pension funds, endowments and other so called “real money” in an interview this spring with author Steve Drobny whose book The Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes and Real Money asks some of the world’s top macro money managers what went wrong for the world of pension funds during the financial crisis and what did they need to do in order to avoid similar fates in the future.
With the release of the report from the National Conference on Public Employee Retirement Systems (the actual report (pdf) is available here), we thought it would be a good opportunity to bring our Big Saturday Interview with Steve Drobny back to the forefront for readers this weekend.
David Penn is Editor in Chief of TradingMarkets.com