Nick Treneff to Jim Stoll, July 12, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Mr. Stoll,
As I noted below, the attached transaction sheets, along with the
information we provided you on July 1, give you the data you need to calculate
the gains and losses on these two securities. STRS Ohio is not required to
compile data in response to a public records request.
-Nick Treneff
Jim Stoll to Nick Treneff, July 12, 2013
Subject: Re: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Nick,
I'm told that Ms. Hoover can calculate the entire number of shares we hold
in VXX and SDS in a matter of seconds along with cost basis and our current
unrealized losses in both positions. For both accuracy and transparency sake as
I plan to address the Board on this issue at the August/September meetings I
would request that you send me this info directly so I don't make a mistake in
calculating these ill fated trades which by my estimate have cost us 100 million
dollars so far. That's more than then entire STRS Ohio yearly budget. Good
grief. I look forward to your response to this records request.
Sincerely,
Jim Stoll
Nick Treneff to Jim Stoll, July 12,
2013
Subject: RE: Meeting with STRS Leadership on Tues. Apr. 16 at 1
pm
Mr. Stoll,
Attached are the previous purchases and sales of VXX and SDS that STRS Ohio
provided you in March. This, along with the data we sent you on July 1, gives
you all of STRS Ohio's transactions in these two securities from which you can
calculate the gains/losses to date.
-Nick Treneff
Jim Stoll to Nick Treneff, July 9, 2013
Subject: Fwd: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Nick
I wanted to be sure that you received this records request? Please
advise.
Thank You.
Jim Stoll
Jim Stoll to Nick Treneff, July 1, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Nick,
Perhaps I wasn't clear enough on my records request. I would like to get
ALL Transactions in VXX and SDS from the time we started to invest in them and
would like to know our unrealized loss in both these postions as of today's
date.
By my calculation we have probably lost in excess of $80,000,000 million
dollars on this ill fated "hedge" and I'd like to be accurate in my figures
when sharing this with others.
Thanks. Please don't hesitate to call if you need further clarification as
to my request for this information.
Jim Stoll
Nick Treneff to Jim Stoll, July 1, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Mr. Stoll:
Attached is the reply to your questions about investment transactions in
VXX and SDS. Regarding your question about PBI awards, the board does not vote
on them in June, as the fiscal year does not conclude until June 30. After the
fiscal year closes, the fund’s performance figures are compiled and verified
by Vincent Performance Services. Individual performance is then measured and PBI
awards drafted for board review/approval. That typically takes place in
September.
Thanks,
Nick
Jim Stoll to Nick Treneff, June 28, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Thanks Nick,
Appreciate your help. Has the Board approved the PBI bonus for this year
yet? They usually do that in June? If so, Could you please send me that
information in the same format as you have done in years past with Title,
Salary, Bonus and Total Compensation.
Thanks. Nick.
Jim
Nick Treneff to Jim Stoll, June 28, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Mr. Stoll,
I just wanted to confirm that I am working on your request and should have
the information to you on Monday.
Thank you,
Nick Treneff
James Stoll to Nick Treneff, June 24, 2013
Subject: Re: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Nick,
Could you please send me in the same format as the ones you sent previously
(see attached) all positions, trades, transactions, up to today's date, which
STRS has in SDS and VXX. Please consider this a public records request. I'd
like to see what has been done since we discussed this ill fated trading
approach back in April.
Thank you.
Jim Stoll
Nick Treneff to Jim Stoll, April 12, 2013
Mr. Stoll,
The attached document contains responses to the additional questions you
had regarding two securities that STRS Ohio holds. I've also attached the
transaction sheets for these two securities again. Since the attached response
refers to these sheets, I thought it would be easier if you had them together in
the same email.
At this point, Craig Brooks, Bill Neville and John Morrow (co-Chief
Investment Officer) are scheduled to join us for the meeting on April 23.
Thanks,
Nick
Jim Stoll to Nick Treneff, April 10, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Thank You, I will be there. If you could let me know who will be involved
when you have a chance that would be great. I would like to prepare paperwork
on my end for everyone who is in attendance so I will be sure to have enough
copies of my information.
Thanks Nick.
Jim Stoll
Nick Treneff to Jim Stoll, April 10, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
It's confirmed we'll plan to see you on the 23rd.
Thanks,
Nick
Jim Stoll to Nick Treneff, April 10, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Yes, April 23 rd at 1 Pm would work for me as well. Please confirm at your
earliest convenience.
Jim Stoll
Nick Treneff to Jim Stoll, April 10, 2013
Subject: RE: Meeting
with STRS Leadership on Tues. Apr. 16 at 1 pm
Mr. Stoll,
I'm afraid our proposed April 16 meeting date is no longer workable. If
you are available, I would like to schedule our meeting for Tuesday, April 23 at
1 p.m. Please let me know at your convenience if this new date fits your
schedule.
I also wanted you to know that I should be able to send a reply to your
follow up questions about the exchange traded funds before the end of this
week.
Thank you,
Nick Treneff
Jim Stoll to Nick Treneff, April 10, 2013
Subject: Meeting with
STRS Leadership on Tues. Apr. 16 at 1 pm
Nick,
Per our discussion on the phone I am trying to confirm the meeting with
your STRS team for next Tuesday April 16 at 1 pm in Columbus.
Can you please confirm that date/time or if that doesn't work, let me know
what date your team members are available to meet.
Thanks.
Jim Stoll