The head of San Diego County’s pension fund hit back at recent news reports calling SDCERA’s new investment strategy risky.
“SDCERA’s investment strategy is purposely designed to be no riskier than traditional pension fund asset allocation strategies,” Brian White wrote in two separate letters to the editor in the U-T and the Wall Street Journal.
In a new Fact Check, Ari Bloomekatz dug into the myriad ways to evaluate risk in pension funds and found that by two important metrics, SDCERA’s investment strategy is riskier than the norm. There are, of course, other metrics that rate the strategy more kindly. White gets a Misleading.
Photos: Cross-Border Prayers for Migrant Kids
A group of faith leaders from the United States and Mexico gathered at Border Field State Park Friday afternoon for a prayer vigil that spanned both sides of the border. Sam Hodgson was on the scene at the U.S. side, and captured some stunning images of the cross-border event.
Please, Mr. Postman
In many ways, the infighting between our local House reps over a Post Office reform bill is much ado over not much – Reps. Susan Davis and Scott Peters want to retain home mail delivery; Rep. Darrell Issa says home delivery would stay for some, and move to cluster mailboxes for others.
Scott Lewis wants another option: To be able to pay the Post Office to stop delivering piles of junk mail.
The Convadium Cometh. Or Not.
Planning expert Wayne Raffesburger throws a whole lot of cold water on the possibility of a joint stadium/Convention Center downtown in a new U-T San Diego op-ed: “The only logical location for a stadium is — voilà — the Qualcomm site.”
• The VOSD Radio bros (yes, there’s a ladybro among them) talked with National University’s Erik Bruvold about the renewed possibility of a combined Convention Center and Chargers stadium on this week’s podcast. Check back on our site later today to hear that conversation.
What We Learned This Week
• The nightmare Poway bond has reared its head again.
• It’s not just housing that makes San Diego so expensive – it’s transportation costs.
• Long-standing political tensions are re-igniting, the mayor’s office is wringing its hands, a health center is indignant – and it’s all over a rarely used parking lot.
• The county’s pension fund is betting bigger, but officials deny they’re at the casino.
Quick News Hits
• You might recall a few months ago when police got a report that the campaign office of congressional candidate Carl DeMaio had been burglarized with several pieces of expensive equipment destroyed right before the June primary election. DeMaio’s team claimed it was an attempt to silence him. Friday, the U-T reported the police have been focusing on two former DeMaio staffers as the perpetrators. In a short follow up on Twitter, the U-T’s politics editor said it wasn’t clear when the staffers became “former” — before or after the burglary.
• Keith Olbermann has a good rundown (with an assist from local Gaslamp Ball) of all Bud Selig’s “contributions” to the Padres that precipitated the team naming a plaza after him. Greatest hits include: “Didn’t bring All-Star Game to SD” and “Didn’t Attend Memorial for (Jerry) Coleman or (Tony) Gwynn.” (Gaslamp Ball)
• Politico wrote that the clock is ticking for California to decide on whether it will appeal the big Vergara ruling. Speaker Toni Atkins earlier this month wouldn’t say what she thought the state should do. But Friday, state Superintendent of Public Instruction Tom Torlakson asked the attorney general to do it. Or maybe he can appeal himself?
• Rocks have been mysteriously sliding across the desert in Death Valley, and a Scripps geologist finally figured out why. (NPR)
Quote of the Week
” Congratulations on your win, Cory”
– City Attorney Jan Goldsmith to Cory Briggs, one of the lawyers who convinced an appellate court that the Convention Center expansion project was illegal. Briggs and Goldsmith have had a lot to say about each other.