Chris Tobe discussed his book, Kentucky Fried Pensions, at MOI Global’s Meet-the-Author Summer Forum 2019. Chris is Chief Investment Officer of The Hackett Group.
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About the book:
Kentucky Fried Pensions is my new book that follows my journey as the first public SEC whistleblower as I attempt to use the new Dodd-Frank law to clean up the culture of cover-up and corruption in Kentucky Pensions. It explores the national links between corruption in investments via placement agents and corruption in underfunding that plague states like Illinois and Kentucky. It explores the Kentucky Employee Retirement System (KERS) for State Workers the worst funded state plan in the country (worse than any single IL plan) and how others can learn from its current death spiral. It discusses a Federal Pension Bailout which has been in the news lately for Detroit and Chicago. It also shows a lack of transparency which allowed the plan to not disclose a major holding in SAC capital, buried in a Blackstone Hedge Fund of Funds. It ties placement agent networks in California (CALPERS), New Mexico, New York and Rhode Island.
About the author:
Chris joined The Hackett Group in 2013, bringing 25 years of institutional investment experience with a focus on Public Pension plans. With The Hackett Group and with previous teams, Chris has led performance reviews for numerous state pension and retirement systems valued at up to $40 billion. He is the author of “Kentucky Fried Pensions” (a best-selling book on public pensions), many articles in the Financial Analysts Journal and other professional publications, and has written a column for the Wall Street Journal “Marketwatch.” He earned an MBA in Finance and Accounting from Indiana University Bloomington, and his undergraduate degree in Economics from Tulane University. Chris has served as President of the CFA Society of Louisville, and has taught investments as an adjunct professor at the University of Louisville. He resides in Louisville with his family.