Monthly Archives: July 2013

New beginnings

I have a lot more to say about pensions, but that will have to wait until next week as the moving truck is coming tomorrow morning first thing. If I spend any more time at the computer while my partner … Continue reading

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Detroit’s dodgy numbers

Cate Long wrote an important piece at her Reuters blog today on the possibility that Detroit’s emergency manager has over-inflated the city’s pension liabilities. As Long notes (and as I describe in the post below), Orr changed the way the … Continue reading

Posted in Pensions, Public finance | 1 Comment

How did Detroit’s pensions fail so badly?

Pension liabilities are at the center of the fiscal collapse that led to Detroit’s bankruptcy filing today. The scale of the disaster, and the precedent its resolution will likely set, call for a closer look at what went so badly … Continue reading

Posted in Pensions, Public finance | 4 Comments

“They get your money. You get a piece of paper.”

My first job in investment management was as a mutual fund analyst at Morningstar, and to this day I still remember my first Morningstar Conference. This was back in the days just before emerging markets were commonly accepted as an … Continue reading

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Addendum – new chart

There was a fair comment on Twitter yesterday about the usefulness of the relative contribution chart in the post below given the absence of  the years with negative numbers. It’s true that the graphs were misleading without them, but it’s … Continue reading

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Correcting the record on public pension funding

This will have to be brief as I’m working on something related, but I wanted to share something I discovered today as it touches on the increasingly political subject of public pensions and underfunding. In my research, I came across … Continue reading

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