The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Broadway League funds use internal 7% return targets for conservatism
“A number of funds I sit on, we've established what we consider sort of an internal assumption that we, notwithstanding whatever the actuary certifies with the federal government, will say, You know, we want to use a seven percent return assumption because we w…”
New OCIO fired 29 of 30 incumbent managers on Broadway plan
“When we went to an OCIO that had not had any Taft-Hartley experience before, the termination of existing managers and replacement was astonishing. I think there was maybe one manager out of 30 that they kept. Of the existing group.”
One Broadway pension plan allocates 20% to PE, 15% to EM
“I have one plan in particular that the board has decided it needs to try to Really maximize returns and shoot for an eight plus percent return profile. And that means that we have, you know, 20% invested in private equity and 15% in emerging markets.”
No Broadway League pension plans exited equities during 2008 financial crisis
“And the 2008, 2009 financial crisis taught us that we should not act based on alarming data, alarming information, and none of the plans I sit on exited equities at any point in time. We just sat there and Bore it out, and we were rewarded in the end because w…”
Broadway League fired investment consultant after trust eroded during PE process
“Once we finally got to the point where we had gotten the education, the RFP process and the discussions that went on between the consultant, the union trustees and the employer trustees created an environment where one side wasn't trusting the other side. And …”