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 6 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
Briner: North Carolina's state pension ranks 50th out of 50 in performance
“We are 50th best performing out of 50, and so there's a lot of desire to help fix that and move it up the curve that is really appealing to certain people.”
Briner: Forced ESG divestments pushed energy secondaries to 20 cents
“Energy secondaries were on sale. Some of them are trading at 20, 25 cents on the dollar because the owners don't care. They must get rid of them, and there are not many natural buyers of them.”
Briner: Only Connecticut, New York, and North Carolina retain sole fiduciaries
“47 other states have gone away from this model. The three that are left are Connecticut, New York, and North Carolina.”
Briner: Early endowments heavily backed hedge funds shorting 2001 tech crash
“Many of the endowments were invested heavily in hedge funds that shorted the tech rec in 2001.”
Briner: First lien private credit yields compressed from 12% to 9%
“Private credit by early twenty-twenty-three, a lot of people were talking about it, but not a lot of people were doing things about it. By early twenty-twenty-four, they had. But you had a full year where you could deploy at 11, 12% First lien in new buyouts, …”
Briner: North Carolina pension holds a massive 52% fixed income allocation
“It's roughly 48% in aggregate equity exposure, including some private equity, but mostly public equity, and 52% investment grade fixed income. There's some other pieces in that, but largely investment grade fixed income. There's about seven and a half percent …”