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There's an important detail in this article that's important 2 explain:
1 of the main excuses NYSTRS, Oregon PERS, & others have tried to use to claim that divestment isn't possible is that their investments in CoreCivic & GEO Group are in passive portfolios (ie index funds) 1/3
1 of the main excuses NYSTRS, Oregon PERS, & others have tried to use to claim that divestment isn't possible is that their investments in CoreCivic & GEO Group are in passive portfolios (ie index funds) 1/3
Index investing is like picking up a bag of groceries rather than choosing individual items yourself. With true index investing, you can't pick and choose; you're getting everything in the bag.
But that's not quite what these pensions are doing. 2/3
But that's not quite what these pensions are doing. 2/3
Pension funds like CalPERS, NYSTRS, & Oregon PERS are TRACKING the index, meaning they're looking at what's in that grocery bag & trying to pick out the same items.
Why's this important? It means that they actually have ultimate control over what they're investing in. 3/3
Why's this important? It means that they actually have ultimate control over what they're investing in. 3/3
