Greed is good, says Japan pension fund exec
The managing director of the $110 billion public fund has his Gordon Gecko moment, urging fellow investors to not despair during the credit crisis, while warning that pension fundsÆ survival is in question.
ôGreed, for a lack of a better word for it, is good,ö said Gordon Gecko, the fictional 1980s financier of Oliver StoneÆs film Wall Street. With his suspenders and slicked-back hair, Gecko, played by Michael Douglas, became the epitome of Wall Street buccaneering.Yuji Kage, managing director at JapanÆs $110 billion public-sector Pension Funds Association (PFA), made a similar point last week at a get-together of Asian and North American public-fund executives.The investment head of the…
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