Organizati organization, china as well as investigations of practices of Chinese Companies that are listed here in the u. S. So were up 0. 4 . 3 for the week as a whole sara straight to kayla in washington to recap what we just heard from the president including that significant announcement that the u. S. Would be terminating its relationship with the World Health Organization and sara, the president prevud that a few weeks ago saying it would be reviewing the funding it sends to the w. H. O. In the wake of what it sees as shortcomings by the World Health Organization to alert the u. S. Of some of the risks of the coronavirus. Sources tell me that one of the ways the u. S. Feels most wronged is that there was no information about asymptomatic transmission of this virus until late in the game when the u. S. Population and economy was at risk. He announced the administration would be suspending the entry of foreign nationals from china to the u. S. , that the u. S. Finds at risk to the
That name. Finally, what if youre caught in the middle . You rode the recent rally but got in trouble with this weeks weakness its time to risk less to make more lets kick things off with the dollar seeing a bit of a rebound today after more commentary out of the fed this week put pressure on the greenback. The dollar still down 5 from alltime highs and just narrowly positive on the year the emerging markets etf which typically benefits from a weaker dollar also seeing gains today but still underperforming the Broader Market this year carter worth warns there could be more trouble brewing. Take it away what have you got for us you covered all the salient points thats exactly right we know that emerging markets are often debt laden than boring in dollars when the dollar weakens that deflates the debts thats a good thing. Or a lot of commodity exporting countries, a weak dollar is good for them while emerging markets did do well, theyve still yurnld perfo underperformed the s p lets look
Back in open session. Please call the roll. President driscoll. Commissioner bridges. Here. Commissioner chu. Here. Commissioner safai. Present. Commissioner stansbury. We have a quorum. We have a motion to disclose or not disclose what was covered in closed session. I would move that we not disclose what the proceedings were in closed session. Is there a second. Second. Okay. I now will call for Public Comment on that motion. At this time the public may address the board up to two minutes on items in the subject. Dial the number listed on the screen. Enter th access code. Stop and listen. Wait for Public Comment to be announced by item number or for general Public Comment. When the clerk calls Public Comment dial 1 and 0 to be added to the speaker line. When it says you will be notified when the speaker is ready for your question and to withdraw your question, press one then zero. Wait for your turn to speak. When the system message says your line is unmuted, please state your name an
Be in in this kind of market. In real estate, we have a 5 of our book of our real estate book is in is in hotels. Thats a really low weight. That equals 50 basis points of plan assets. Thats a really low weight. And except for the Mortgage Investments that well talk about which we think that are an absolute return and the Energy Investments in our Natural Resources portfolio, which are going to take a very long time to come back, you really need much higher demand and much less supply to begin to get a good return out of that. Thats a really longdated story to come back. Im not sure how much its going to come back. But except for that one part of our por portfolio, i dont view anything as structurally broken. Well, the other thing that to consider in the numbers that bill presented is that these are indices. And if you look at the composition of s an s p 500, 50s health care and health care and the amazons and the ne netflix d google. And they are benefitting from this type of environm
There are no active considerations right now to reduce the indiscernible 31 , excuse me. The point is that if you thought that equity returns were not so good tactically, you could sell the futures now and buy the long treasuries without going through the option business. You could rebalance the portfolio right now. You have the discretion to do that. Just like you had the discretion to go to 6 treasuries that you didnt do for whatever reason. Well, we look at it that we are defensively positioned right now. Okay. And you dont thank we need to become more defensive tactically in the near term . No, we dont. Okay. Because in your memo you have mentioned how in the markets went down a great deal in 2007, that everybody thought it was going to bottom out and it went down greatly again. So it can happen again. I think that you mentioned how in your career and probably amongst all of us here you have the longest investment career but theres other people who said no one investing today has e