Pension Fund Red Ink – Check Out Your State

“Stay wary, alert and very, very nimble.”
– Art Cashin
Managing Director, UBS Financial Services

Government Pension Plans Are Headed For D

I read Art’s letter almost every day and, boy, do I enjoy his wit, his compassion and his brains.  In the spirit of Christmas, his post this morning was fun.

‘Tis three days before Christmas
and at each brokerage house
The only thing stirring
was the click of a mouse

Down on the Exchange
the tape inches along
Brokers bargained and traded
as they hummed an old song

The Fed turned data dependent
or so they would claim
Yet they hiked in December
though the data looked tame

He touched on the Cubs, the Broncos and LeBron…...