... IRREVERENCE, INSTITUTIONALIZED ...

Tuesday, October 03, 2006

Last Again

It's official.

The final state in the nation to invest in the U.S. stock market is now the only state in the nation that doesn't invest in international equities.

Yup, South Carolina is last again.

According to new information from the National Association of State Investors, South Carolina is the only state in the nation that doesn't invest at least a percentage of its retirement assets in international markets.

Our only company? A Nevada Public Safety retirement fund and a Texas Municipal retirement fund.

Not coincidentally, South Carolina's retirement system ranks in the bottom one percent of all large public pension funds in terms of its return on investment.

Fortunately, South Carolina voters have a chance to partially rectify this situation on November 7 by approving a referendum that would allow us to join the rest of the country in investing internationally.

For those of you voting, it's Question 3-A and a "Yes" means you support going global.

1 Comments:

Anonymous Anonymous said...

Why does this reek of the wisdom of our seersucker elite?

11:08 AM

 

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