From: Bill Lucy 

In article , email{at}from_Gary_Britt.org says...
> Besides the content of my other reply, its also because these are dividend
> paying stocks by and large.  Retirement systems also put a lot of money into
> utility stocks as well.  They don't do either because they think oil
> companies or utilities are way more profitable than the average corporation.

You display a complete lack of understanding regarding pension plan investment, Gary.

Here are the largest equity holdings of CalPERS, the largest pension fund in the US:

1. General Electric
2. Microsoft
3. Exxon Mobil
4. Citigroup
5. Intel
6. American International Group
7. Bank America
8. Cisco
9. Johnson & Johnson
10. International Business Machines

I count 4 technology companies, 3 financial services companies, 2
manufacturers, and an oil company. Utility companies don't show up in the
top 25 holdings. Oil companies are littered throughout the top 50 (BP is
not in the top 200, BTW).

CalPERS equity investments are well in line with other institutional investors.

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