James Carr on what happens when you underperform to the tune of $90 billion (which STRS did)

By James Carr, MOF

May 25, 2023

When you underperform by the sum of 90 billion dollars against the S & P 500, in retrospect, it only becomes more obvious that the STRS investors missed a golden opportunity to replenish our funds from 2010 to 2020. You've got to make hay when the sun shines. They had their chance to "make hay" while the market was booming over a 10 year span and they blew it.  

Instead of rewarding them with new performance bonuses, perhaps it would be more appropriate for the STRS Board to ask for a refund on the bonuses they've already been given.

Because of their failure, we lost our annual COLA and we lost 30-and-out.  The only thing the investors lost was our money.