Jean-Pierre Aubry
speaker
560 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Jean-Pierre Aubry’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So I think the tried and true, simple,
60-40 allocation for stock index and bonded index was kind of fit the bills, what we're looking for.
Some can argue that that's not really the risk profile or the intended risk profile of pension funds, that it might be more like 70-30.
And maybe you want to put in some international stocks in there, index international stocks to really kind of map what a passive index approach for public pensions would look like in aggregate.
and compare, but you can quibble about exactly.
But 60-40 was salient, and it's hard to argue with as kind of an alternative when you're saying, has all this fancy stuff public plans have been doing, using my hands here, has that really done anything for you?
That's what we wanted the readers to lead with.
And I think when you look at the other types of index allocations,
you still get essentially the same story.
It may not be as significant, like the differences, but you still get the same story that public plans underperform relative to this index approach.
But we didn't want to get too caught in that world of trying to match what they're doing too much.
So we looked at this 60-40, basically the Wilshire 5000, the stock side, and Barclays Ag Index on the bond side.
60 40 track that over time pretty straightforward on the pension side we have their actual returns you know how they've actually performed year over year for about 250 pension funds in our sample clearly that's not all the cities and towns in america but it actually is 95 of all the pension fund assets and 95 of all public sector workers are in these plans so
Everything we've left out, all that little tail, they don't add up to much.
There are definitely states with a bunch of small towns that have their own little pension.
And that's a different analysis that might be interesting to see how these very small plans do.
But this is where everybody is, where all the money is.
And when we look at how these larger public plans have performed throughout the index, no matter how we cut it, they underperformed.
I think one thing we're trying to do is really look at this many different ways in terms of the time periods.
I think that's one
Showing 281–300 of 560 · page 15 of 28
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