[Newsbot]

Title: Alberta public pensions being used to prop up struggling carbon industry, union says
Category: Provincial Politics
Posted By: DrCaleb
Date: 2020-02-20 07:48:32
Canadian

[DrCaleb]

Everyone who saw something like this coming when the UCP legislated the takeover of these pension funds - raise your hand . . .

[DrCaleb]

[peck420]

The books are public.

Post evidence.

Hard for a shill to do that...I know.

[DrCaleb]

peck420 peck420:

The books are public.

Where? The last report Aimco published was 2018, that I can find.

https://www.aimco.alberta.ca/2018-annua ... rformance/

[DrCaleb]

And for reference:

$1:

More immediate are changes pending to pensions and funds for the province's teachers, nurses and other public sector employees.

The Alberta budget, released Oct. 24, revealed these funds were expected to be transferred to the Crown corporation Alberta Investment Management Corporation (AIMCo) for management.

The move was a "hijacking," according to the Alberta Teachers' Association (ATA). The president of that organization, Jason Schilling, wrote on Twitter that making the move without consulting the ATA was "extremely disrespectful."

https://www.cbc.ca/news/canada/calgary/ ... -1.5362076

[peck420]

Yet, you have no problems making comments on BS claims founded on the same lack of knowledge.

AIMCo's year end is March 31. As any "Doctor" would have realized within seconds of getting to their public info pages.

But, here you are, trying to play obtuse about it.

Shill be shilling.

[DrCaleb]

peck420 peck420:

Yet, you have no problems making comments on BS claims founded on the same lack of knowledge.

AIMCo's year end is March 31. As any "Doctor" would have realized within seconds of getting to their public info pages.

But, here you are, trying to play obtuse about it.

Shill be shilling.

You mean you knew that information the same as I did?

Pot, meet kettle.

And the information is likely coming from yet another disgruntled insider. In this government, it tends to be the most accurate considering this CBC article is not the first time I've heard this story.

Aimco is pretty good about making crappy investments based on the advice of it's patronage appointee. Losing money in the coal sector seems par for the course.

[DrCaleb]

Alberta public sector pension plan fund falls $3.4B in quarter, pointing to AIMCo losses

[BartSimpson]

Interesting. I've observed a bunch of public sector pension funds (including my own) that are in the tank right now.

But for my own investments I repositioned my portfolio and moved from international investments to things that were hurting but that I knew would bounce back and I'm no genius at stocks.

Now I'm up almost 21% from my position on January 1st. It isn't magic.

[DrCaleb]

I am lucky in that my pension is privately managed. But the public workers I work with did not have any choice where their public pension investment went, and likely would not have chose to invest so heavily in the oil sector.

[BartSimpson]

DrCaleb DrCaleb:

I am lucky in that my pension is privately managed. But the public workers I work with did not have any choice where their public pension investment went, and likely would not have chose to invest so heavily in the oil sector.

Then they're idiots. If they don't want to follow the money then they should not complain when they lose money on bullshit like solar power, wind power, GLBTQ-managed firms, Palestinian investments, and other lefty-flavored investments.

[BartSimpson]

Oh, my most consistent money-makers?

Firearms manufacturers.

[rickc]

Pension? Whats a pension?