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"chatham chapman" Discussed on KFI AM 640
"California Public employees retirees. In the National Enquirer. We'll talk about that in a few minutes. This is one of these situations where you know, if this is your household. Maybe you need to come down hard on your sons and make some changes apparently a mother up in the Santa Rosa area had to call nine one one because her son's got into a bloody fight over a broken marijuana Bong. The day comes and you have to call nine one one because you sons are cutting each other with the jagged glass, it's too late. After one of them broke, the Bong, and they got into a fight over it. You got you got you already blew it though. You got a couple of near dwells who were just slacking off. This is how old they are nineteen and twenty oh you missed the boat. Yeah. Yep. Yeah. You screwed up Samuel j for row. F A U R O T. You nineteen was on the porch when cops arrived, and he was he was washing away blood. I guess trying to clean up the evidence. He was cutting his brother with the broken glass, the jagged edges the brother had lacerations and wounds. Police detained him and his mother and found the brother who had been stabbed bleeding profusely from his wounds. He was lying across the street where he'd gone to hide from the brother. The brothers been hospitalized for some stab wounds and lacerations, and he is twenty years old. Good work. I'm sure they're going to be useful. Where is this near Santa Rosa, Santa Rosa? I don't know if it was in Santa Rosa was reported by Santa Rosa Lee, probably children of hippies. That's what happens. No disciplined overrules. School. Yeah. No, stab at each other with Bong shards. What are the funnier stories we've seen lately, which brings CalPERS into question as the California Public employees retirement system, it's humongous, of course. Because even though the private sector long ago decided you cannot pay fixed pensions to employees for the rest of their lives. So you'll go bankrupt. We haven't learned that yet in the public sector. We ever will. Because the unions have a stranglehold on the politician it goes bankrupt. That's what they'll learn. Now. I think that I think would eventually she'll just raise tax money. That's okay. Each soaking tax payers to make up the difference. That's where exit you have always the union you have to get out dominance over the politicians. Every state pretty much has this states, give their employees. I think father got to fix pension from New York, California is most generous and has the biggest big one of the biggest deaths. I think Illinois has a slightly larger debt as a percentage of Konami. We're one of the worst states. Well through an investment managed by New Jersey. Hedge fund California's public pension fund CalPERS appears to have owned as much as one third of American media Inc. Which is the national enquirers parent company. Third a third. I mean, that's that's that's really size when I saw the strength of. Well, it's probably just a few thousand shares or something about a third of it. I guess it was working for them. And it's sort of like, well, maybe they didn't know they just hired the hedge fund the hedge fund makes the investments and they picked American media because they thought that the stock. Yeah. Actually, they invested this through a hedge fund run by Chatham asset management and Chatham has only returned two point three percent a year. Since they made the investment in two thousand nine. No, it is low. It's it's bad. If CalPERS just put money into an index fund. They would've made five times as much money. Is there some connection they had to this fund CalPERS? Oh, many years of Calpers's notorious for making bad investments, they have like stupid people running it. And and every few years, there's another story about a bad CalPERS investment. And they never they never seemed to come close to what the market is giving. And by the way was one fund something called the Eureka fund. And apparently ninety nine percent of it is held by CalPERS. Well, that doesn't sound like you're spreading the risk much all the money in one fund. They make they make decisions over the years. A number of articles Chatham asset management snapped up a majority stake in American media in twenty fourteen the publisher was struggling to emerge from twenty ten bankruptcy. And he's a financial lifeline. So it almost looks to me like this company, which is Chatham asset management hedge fund, they they basically we're using the CalPERS money to exact their own gains. That's how it looks to me because they took the money in the they took Alpers money invested in American media of which they own a majority stake. So the so the teachers the. The government workers in California. One of their big investments was in a newspaper that was going out of its way to trash Hillary Clinton and protect Trump. They were the ones paying Trump's girlfriends the berry stories about his indiscretions. Any? That's just that's nice irony. Isn't it is? One of the most anti Trump, public employees. Apparently, there's was one point nine member invest in his propaganda outlet. Because he's such close friends with the with the publisher of the National Enquirer. And they were they were the ones going after Jeff Bezos and his mistress. Now CalPERS wants to make it clear to things that they are winding down their investments in hedge funds over the last five years and the Chatham Chapman. Hedge fund did represent a small percentage of their three hundred and fifty billion dollar pension fund. It shows you just how big this thing is how mantra services and you're responsible for it listeners. Oh, yes. The employee's kick into know a lot of the money comes from the state in from the towns and cities have to kick into the pension fund, which is your tax money, right? Supposedly the pension fund has closed down a majority of its investment in this them Eureka fund, the remaining stake now is supposedly a little more than two hundred million dollars. But you're right. Calpers has seen an unimpressive. Two point three percent rate of annual return out of its regional investment in the Eureka fund in two thousand nine doesn't somebody look at that like a couple of years ago? It's not working for us. Should we look around for? I mean, what does it sit there for nine years serve their lazy? There's there's always a bottom ten percent of investment firms. Bottom ten percent of hedge funds a bottom ten percent of anything in life. Right. You're right. There's a you wonder who they are this is it this is it CalPERS is in the bottom. Ten percent. It's like being the stupidest guy, you know, at at an Ivy league school somebody's graduating last. So, you know, there's only so many smart people in the world. And I think there's a lot better jobs in the investment in the investment profession, then running a government workers fund. I mean, if you're showing up for that job, how many other jobs have you been kicked out of? The other people won't hire you if you're available to run the California government, pension, and the other irony here is that the Cowboys is one of these funds that always claims their pension fund that they tried to be socially responsible and this supposed to just get money for people. So the tax payers don't get hosed a little less enough with their social responsibility, and they're politically correct investments and here they ended up here. They ended up investing in Trump. All right. When we come back. A couple of things to say concerning last week's big stories and the people that went in the dumpster Friday. The Justice small at story is taken a couple of new turns coming up, John and Ken KFI. Debra Mark has.