Pension Case Study: If It's Broke, Don't Fix It

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Real VisionFebruary 13, 2020
$80 billion – that was the size of the hole in New Jersey’s state pension just 5 years ago when they empowered a commission to investigate its underfunding problems. Since then, the hole has ballooned to almost $130 billion. Thomas Healey, former Goldman Sachs executive and Assistant Secretary to the Treasury under Reagan, chaired a commission that found that politicians incentivized to provide new services and disincentivized to raise taxes were using the pension system as a piggy bank – perpetually kicking the can down the road and leaving pensions serially underfunded. Fortunately for New Jersey, there was light at the end of the tunnel and the commission was able to find a golden goose in the form of its generous health care benefits… Unfortunately, the same problems which led to the underfunding reared their ugly heads again, and the state failed to act on the findings of the commission. Healey reveals the reasons why New Jersey is still underfunding its pension today, and the $130 billion number is only set to grow. Filmed on January 28, 2020 in New York.
Get access to daily trading ideas, trending topics, interviews and more!
Please subscribe to Canadian Insider Club Ultra

More Ultra Money Videos

Real VisionAugust 03, 2020
Marko Papic and Mike Green -- The Next Decade for Geopolitics and Markets
We can all remember when geopolitical tensions and trade wars were the most important headlines seeming to move global markets up or down depending upon their tenor, but recently the global pandemic and the associated policy responses have brought the focus home with all eyes squarely on domestic fiscal policy. In this interview with Mike Green of Logica Capital Advisors, Marko Papic, partner and chief strategist at Clocktower Group, looks forward at the coming decade of the 20’s and explores the growing importance of government consumption and investment to GDP, the countries and assets that will emerge as winners and losers from the rewiring of the global economy, and why the cold war is a poor analogy for U.S. relations with China. As well, they discuss why news of the European Union’s death has been greatly exaggerated and much more. Filmed on July 29, 2020.
Real VisionJuly 31, 2020
Daily Briefing - July 31, 2020
Senior editor Ash Bennington hosts Real Vision favorite Mike Green of Logica Capital Advisors. Mike Green gives a strategic update on the markets, and, through the lens of his renowned critique of passive investing, analyzes flow data on ETFs and mutual funds to conclude that the markets could be due for some turmoil in the coming months. Green and Bennington also discuss today’s interview with Green and Rob Arnott, one of the world’s leading quantitative investors. Green also shares his views on "volmaggedon" and the similarities between short-vol and bonds. In the intro, Jack reviews recent FAANG earnings and gives a preview of Jason Buck’s three-part “Ahead of the Curve,” a deep-dive into volatility featuring interviews with Chris Cole, Jerry Haworth, and Bastian Bolesta.
Real VisionJuly 31, 2020
Rob Arnott -- "The S&P 500 Index is a Growth-Tilted, Momentum-Chasing, Active Strategy"
Rob Arnott, founding chairman of Research Affiliates, is one of the most influential quantitative investors and researchers of the last 30 years, having produced over 100 academic papers in a career that began before the term quant had even been coined. In this interview with Mike Green, chief strategist and portfolio manager at Logica Capital Advisors, Arnott argues that the current period is extremely reminiscent of the late 90s, the last time that value investing was declared surely dead. Together Arnott and Green discuss the structural factors related to indexing that have caused the return of calls of the death of value and debate whether these forces can be calmly unwound by the natural mean reverting tendencies of markets or whether the freight train of "passive" indexation has too much steam to be stopped by anything less than a catastrophic crescendo with an abrupt and devastating end. Filmed on July 28, 2020.

Get a Canadian Insider Club Ultra subscription for

  • Insider filing email alerts
  • Access to premium INK Research reports
  • Full access to weekly North America Top filer reports
  • Ad-free browsing
  • INK Ultra Money premium content

(already an Ultra member? Please log into your account for access)