WCOM hasn't lost money for anyone

Discussion in 'Politics & Religion' started by EricP, Jun 28, 2002.

  1. EricP

    EricP

    Interesting article in today's business paper. Quoted from wire reports, the article discusses the losses incurred by various state penson funds as a result of the WCOM stock and bond debacle.

    The New York state penson fund has lost an estimated $300 million, California: $565 million.

    The most interest part was the following:

    'Robert Leggett, asset manager for the Kentucky Retirement Systems, siad what started as $8.4 million in WorldCom stock there was worth only about $492,000 yesterday morning. But he noted, <b>"Until you actually sell it, you haven't lost it."</b>'

    => Man, I'm glad I don't have any money in the Kentucky Retirement System. This guy is managing their money??? He's got a lot to learn.