The much vaunted Quebecois pension plan is landing on some more hard times. But never fear! They’ve learned their lesson and won’t invest in cryptocurrencies anymore!
The fixed-income segment recorded a loss of $20.1 billion for a negative 14.9 per cent one-year return in 2022.
The equities class, which includes the equity markets and private equity portfolios, also generated a negative return, with a loss of 5.7 per cent or $12.1 billion over the year.
Overall, CDPQ lost $24.6 billion through its investment activities in 2022.
So overall equities were the superlative investment and my clients did better than the Quebec pension plan.
In the long run it is always better to be an owner than a loaner.
I turned down one investor about a 1.5 years ago who wanted to drop $75K into the crypto market.
I don’t know what became of him…
Cheers
Hans Rupprecht, Commander in Chief
1st St Nicolaas Army
Army Group “True North”
no worries , the empty hair and the feds will bail them out for votes .
Smart like a FROG!
Quebec will demand restitution from the feds as it is the Anglo’s fault as it is their market and not the Franco’s. They got french fried but we in English Canada will pay for it.
jaymo – If only there were two Churchill Falls. Oh wait, there’s the ROC to pillage.
Here I thought “socialist retirement” was a bullet to the base of the skull.
That might also be the “Epstein retirement” as they have now reportedly found a weapon 30 ft from the body.
Obviously a thorough search of the crime scene…
“Retirement in a box” is a MAID in Canada plan! 🙂
Cheers
Hans Rupprecht, Commander in Chief
1st St Nicolaas Army
Army Group “True North”
No….that is referred to as “MAID”
Cryptonite
Life Follows Art dept.
O Superman – Laurie Anderson
https://www.youtube.com/watch?v=S39NaDPNDtk
Their actual performance was worse than they let on. What is “private equity” worth: it is worth what we say it is worth. Truth is all pension, insurance, and benefits programs went significantly backwards last year.
Private equity- the money managers dream – the miraculous asset value you get to pencil in yourself.
What could have gone wrong?
This is mostly due to the plummeting market value of bonds as interest rates rise. The face value and interest rates do not change, but if you want to sell a 2% bond in a 5% marketplace, you aren’t going to get anywhere near the face value.
It only matters if you actually sell the bonds.
On the flip side, right now might be a good time to invest in bonds. Especially if interest rates drop.
a negative return of 14.9%. Wow, how about just saying they freaking lost money.
Should have invested in 407. (Mike Harris dumped a $9 billion asset for $3.1 billion.)