The state of Rhode Island has been a big-time investor, through its pensions, in hedge funds. Retired teachers who depend on this money for retirement should not be invested in hedge funds. It’s as simple as that.

Unfortunately in the world of public pensions big committees and chest thumping rule the day. Egos and resume building cloud judgement. And performance takes a hit.

It’s no surprise that hedge funds are coming under attack. Assets are heading out the door.

This could have been avoided.

Read more here on Pensions in a Load of Trouble Part I

FLASHBACK: RI Pension Agreement