Why I am supporting Ron Elmer for Treasurer

Ron Elmer is running for the democratic nomination for the NC Treasurer.   Ron Elmer is highly qualified for the job.  Here's why:

• He has extensive investment management experience managing institutional mutual funds and index funds.  He's even managed index funds for the State Pension Fund.
• He's very well qualified.  An NYU MBA, a CFA and a CPA.   
• He's not a career politician - he doesn't want to use the Treasurer's office to climb the political ladder.
• He's a really nice guy.

Ron's basic platform is to save the state millions of dollars by bringing the management of the pension fund in house and basically firing all the external managers.   Once in house, he plans to index the entire $90 billion portfolio.    I think that this is a brilliantly simple way that the state can save probably between $500 - $900 Million per year.

Let me state that again:   Ron's plan can save the State at least half a billion dollars per year and potentially close to a billion dollars per year.

This sounds like crazy money, but Wall Street investment firms have been enjoying this payola from North Carolina (and many other states) for years.   It's time to put a stop to this madness.

I've put together a short paper that details my back of the envelope computations which show that these savings are reasonable and there should be no loss in performance of the fund as a result.  In fact, I would expect that the fund will perform better.

Click here for a copy of my report.   

Click here for a copy of a presentation that I did for the State Employees Association a couple of years ago.

And don't forget to vote for Ron and spread the word.

Thanks