James Carr's advice to STRS: Don't hand them bonuses, hand them pink slips.

From James Carr

May 4, 2023

Every time I hear STRS brag about the quality of our vaunted in-house investment team, it literally makes me feel like vomiting.

These clowns, who have been rewarded with millions of our dollars, are now arguing that they deserve even larger bonuses. Over a ten year span their investment strategies cost us 90 billion dollars that we would have gained simply by investing in an S&P Index Fund. That's something that any marginally intelligent person without an ounce of investment experience could have done.

Frankly, I don't know how the other 4 Ohio pension funds invested their money, but I do know that firefighters, cops, school custodians, and politicians are still getting annual COLA's and as far as I know, only teachers are required to work for 35 years.

The fact that a simple index fund would have yielded an additional 90 billion dollars above what our STRS investors were able to earn is devastating. My advice to STRS: Don't hand them bonuses, hand them pink slips.