Burns: “The remnants and the carnage of the fiscal, financial meltdown really is behind us, it’s really downstream>”
Alaska Permanent Fund Corporation Executive Director Mike Burns, earlier this week and talked about investing at that low level…
Burns: “You have to be a bit like a fireman, you have to run towards the fire. It’s very difficult to do, but back in March of 2009, and actually it turned out to be the day, I mean the exact day of the low point of the market. We’re not that good, we’re not anywhere near that good, if we’d be anywhere within 90-days of the bottom of the market we’d have been pleased with ourselves. On that day, we put $800 million in an S&P 500 index fund, and that fund is worth well over $2 billion today. So like I said, you have to run towards the fire.”
The fund this week reported 10.5 percent in earnings during Fiscal Year 13.