At least the government will take care of you.

Said in the most sarcastic way.

I start to get nervous when some of the biggest insider traders in the world start losing money. In this case CALPERS. The California public retirement system. A couple of days ago they announced they lost 2% of the their portfolio value. Remember CALPERS makes all of it's assumptions on funding based on a 7.5% gain in their portfolio. That is almost a 10% miss. No one can estimate they will make 7.5% a year unless they have insider knowledge.

Frankly, I'm shocked it's only 2% because last year while oil was falling like a rock I started reading about the CALPERS portfolio losing 28% on their oil investments. And this article was from August. Oil didn't really bottom until about Christmas.

After the real estate crash it looks like they are almost the worst investors in the world. I shudder to think what will happen when the market eventually crashes. Markets don't go up forever. But hey - bright side - oil has already been caved, so their isn't much more damage that sector  can do to them.