Regularly retirement meeting thank you for all attending and the staff none sunshine said thank you. I wanted to say thank you on behalf of the board for all our work sometimes that is a thank less job mr. Clerk if we could please roll call commissioner cohen commissioner meiberger commissioner bridges is on her way droilg brisbane commissioner driscoll commissioner paskinjordan pr commissioner stansbury is quorum is presented. Thank you very much please call the next item thank you ladies and gentlemen, Public Comment is open at this time. Thank you, president im Patrick Bradshaw regarding the potential investment in the loan pool it was good warning the retirements system is asked to purchase. 26. Million no others secondary market willing to purchase it unfortunately, this simultaneously suggests the retirement system maybe under the quote greater pool theory an investment pool investment using the assumption theyll be able to phil fill it later to and then greater pool this is pack
The numbers inaudible . That are local. Right. In San Francisco. Worldclass city oh, im sorry my microphone is off one thing to make sure or maintaining the imagine of San Francisco a worldclass city lets not forget we have qualified artists and local artists to make sure their considered so this is kind of one of the things thats there obviously the Arts Commission you know something from a conversation from just one commissioner but it was interesting to learn that that, yes there are aware we should be hire locally but at the same time, they want San Francisco to represent worldclass art and artists anyway. We probably should. That beyond the scope. Were near the ends please call the next item. Closed session there is nun and the next order of business item 11 adjournment. Madam chair. Yes. The meeting is adjourned at all right. Thank you, thank you all right. Everyone will you prelim stand and put your raise your right hand of the United States of america and to the republic for wh
Thank you. I wanted to say thank you on behalf of the board for all our work sometimes that is a thank less job mr. Clerk if we could please roll call commissioner cohen commissioner meiberger commissioner bridges is on her way droilg brisbane commissioner driscoll commissioner paskinjordan pr commissioner stansbury is quorum is presented. Thank you very much please call the next item thank you ladies and gentlemen, Public Comment is open at this time. Thank you, president im Patrick Bradshaw regarding the potential investment in the loan pool it was good warning the retirements system is asked to purchase. 26. Million no others secondary market willing to purchase it unfortunately, this simultaneously suggests the retirement system maybe under the quote greater pool theory an investment pool investment using the assumption theyll be able to phil fill it later to and then greater pool this is packaged not because you believe that is worst the price but rather you may believe all be abl
Outperformed by one and a half percent so its not uncommon for people to systematically out perform the h f r i wanted to mention the bad hedge funds, of course, were aware of the newsworthy items that madoff and longer than capital the 10 fraudulent hedge funds almost one hundred mroifldz the 10 largest Fraudulent Companies in the United States add up to one . 5 trillion so more than 15 percent times the size and the Hedge Fund Universe is 3 trillion and the u. S. Market is about 23 or 34 billion so the u. S. Equity market is 8 times the size of the hedge funds market but it has had 15 times in terms of largescale frauds so you know we point to bad apples can be found anywhere it is important to bury through the transparency in research and the partnership whats the incentives of the manager you know so anyways i wanted to to point out in scale it universe is not different than ours. One finally question again i want to make sure we answer any questions out in the audience people have
Conversation subject matters we walked through my objectives to learn about the evolution of the program why in their thought 38 they didnt achieve in their droifkdz and why their divesting from the programs and could others succeed in the program he pointed out specifically so a confidence he had with blue that berg resort that the resort asked me the same question and on that or smaller than you can they psyche my answer was yes we talked about some of the lessons from their experience i asked him for suggestions and he give me some suggestions im appreciative. It would be wonderful i dont know if you can do this but sometime if we could appear in front of this board or have one of his people. I had a couple of ideas and i cant how he can help us i dont want to put him on the spot but he is glad to help, however, he came in ways that their you know the ceo. Uhhuh. But he was very yes, maam authentic i thought that you folks a number of times but were going to talk again in the next c