I just finished reading the news story headlined, “How the managers of Oregon’s $100 billion pension fund lost big,” and I’m appalled and angry.

Prior to my retirement, I worked for 25 years as an advisor at Merrill Lynch. Since retiring, I’ve handed all of our accounts over to another manager there. We have always performed above the market – in both good and bad markets – we’ve done very well.

I also receive a small check each month from the Oregon Public Employees Retirement Fund.

To pay millions to professional advisers, then ignore them is beyond irresponsible. The qualifications of those on the committee, especially the chief investment officer, are not of any caliber to override the recommendations of those professionals for whom we pay the big bucks. I’m astounded at the audacity of those on the committee who think they know better.

I would happily sign a recall petition for State Treasure Elizabeth Steiner, whom I voted for. She should have the oversight to fire the treasury’s so-called chief investment adviser, Rex Kim.

It appears his ego far outshines his expertise.

Please, send me a recall petition for Steiner and fire Kim and his so-called committee of experts.

Judi Beard-Strubing
Eugene

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