WCOM hasn't lost money for anyone

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

  1. 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.