CalPERS may finally leave ‘noble’ investing strategy behind

Editorial by the San Diego Union Tribune

In 2013, commenting on a $900 million investment in “cleantech” enterprises that was going horribly, CalPERS’ chief investment officer declared, “This has been a noble way to lose money.” CalPERS also famously scrapped its investments in tobacco stocks in 2000.

Now, thankfully, CalPERS leaders have figured that they need to focus like a laser on good returns.

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