General Public Comment item no. 3. Please come on up. I have one card in front of me. Mr. John furlan okay thank you, president cohen. First off, im disturbed about the trend of moving closed session to the front of the agenda and having members of the public have to wait for an hourandahalf and two hours to wait for you to get through the investment calendar. And i would respectfully request that you move the investment calendar back to the agenda, so members of the public dont have to cool their heels while you are dealing with that. Okay. If necessary if you could move it to a special meeting each month, rather than jampack your agenda, so you are not out of here before 5 00 or 6 00 or 7 00; that would be even better. I would like to correct the record last month, ke walker inappropriately and inaccurately quoted that the program for the dalt investment would yield 9. 4 . She misread bob shaws analysis. She was quoting percentage for the loans that have already been repaid, and i be
Disaster prepairdedness committee thmpt cochair which is myself. The ddpc had 2 meetings and i did have notes from september and november because of time constraints ill review the november notes. Hold on, please. Mayor Disabilities Council subcommittee on disaster prepareardsness met november 6, 2015 and focused on el 9o. The meeting was well attended and included memberoffs city deerment pas, public helt, emergency management, human sunchss as well as Community Organizations in home support services, public support, sf card, aging and disability, friendly sf. The first part the meeting including a presentation from roger [inaudible] from National Weather service in monterey who shared the updates on the el 9ee information. We cant be concern certain on the mass of storms expected from late december and up to manch. For San Francisco some of the implications can include lands slide power outage due to fallen trees or flooding, city aijss pg e and Public Utilities are hard at work prep
He was one of the people that was on the road we stayed unusually close to manager we found by doing that we had a greater understanding of their integrity of their investment philosophy their investment process and frankly most of the managers enjoyed it they like clients that have a thorough understanding but we didnt make it a policy that they shall employed holding we thought to our own Due Diligence be close to them we never had a blowup of the type you see thats been around the country and in addition commissioner some of the headline blows up that youve seen like madoff thats incredibly bad Due Diligence that people involved in madoff they were producing their own statements of their own investment values not a Third Party Custodian that was providing an annual audit so basically west ridge was another one managers claimed to out perform for one hundred and 20 straight months the odds were one hundred and 90 trillion. Well but the bottom line we in our situation we did not think
Not want that to be part find our motion i understand that but unless you set the guidelines and standards and give directions i dont know how you can move forward. I have a say you taking a vote on something a blue print you havent developed speaks volumes mr. Cokeer is paid millionaires thousands of dollars a year a blue print even awning an opportunity to be invited to the table to develop that burglary print as secretary i type rfps this plan should have been presented with all your consensus in place this is a failure just the way it was prepared be to you interest it mrrlg you were the main chairperson for the o 50 o 60 million loss for a plan for a hedge fund go ahead its a 61 million loss to the fund and commissioner paskinjordan you stated on record videotape it you r that you dont invest in hedge fund yet youre here promoting the hedge fund without a blue print or plan. Bryan what can i say you had lunch are a hedge fund person and took his recommendation leon you came in wit
That and issuing an rfp. The first to issue an rfp okay that will take sometime we would also conduct a search for staff those two will go on simultaneously and probably come to an end at the same time when theyre in place together the three of us meaning you know the external party and internal hire will present the guidelines the guidelines will be 6 months away. So were talking 2016 almost. 2018. The infrastructure will be the are you asking when the First Investment will happen. Kind of a benchmark. Im going to throw out guess around december fwith 2015 maybe march 21st 2016. No, im good. Great so mr. Cokeer when i come back with the rfp with the end result youll have the privilege of looking a direct program of fund to fund and a Customized Program in the responses from the rfp the way you envision it. Yes. Will that same will all of that be brought to the commission to look at it in twos or one recommendations to the board. At the discretion of the board i prefer the policy and j