

CalPERS bows out of venture capital - rbc
http://www.siliconvalley.com/ci_21275244/calpers-bows-out-venture-capital

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rogerbinns
They also lost money on both Enron and Worldcom. In Enron's case they were
putting money into the balance shifting shenanigans that were being done,
although IIRC they got out of those in time.

All investments have risk/reward tradeoffs. It is debatable whether they
should even be in the very high risk (VC) space.

