New York recently paid almost $50 million to private stock managers to actively invest part of the state’s massive public pension fund, and they lost more than $1 billion, a worse performance than stocks that were essentially untouched,” the AP reports today.  Read the whole story here.

About the Author

E.J. McMahon

Edmund J. McMahon is the Empire Center’s founder and a senior fellow.

Read more by E.J. McMahon

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About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.