Dear Lt. Gov. McGeachin, stop meddling in things you don’t understand.
Recently, Lt. Gov McGeachin joined 22 other lawmakers in an attempt to force Idaho’s Public Employee Retirement System from investing in Apple, Facebook, Google, Twitter and Amazon. While I don’t like many of these companies or their attack on freedom of expression, it’s just stupid to try to make a moral statement by pulling out of investment positions with them.
These companies made up 20% of the market in 2019. They are companies within the S&P 500 index, a position that PERSI holds, and have achieved an average annual return of 18% over the past five years.
Would you like PERSI to remain liquid and continue to operate independently? Stop transferring your ideals to PERSI. A 2018 Spokesman Review article called PERSI “the envy of other state pensions.” Why would you want to mess with …?