Mr. Attwood of the Illinois Pension system gets the "I get it award" in the terms of institutional investing.  His interview on Bloomberg this morning (7/1/2009) should be required viewing for all Public Fund Trustees.

Good for you Mr. Attwood, getting the big picture right is far more important than the active managers attempts at adding value  by choosing between Exxon or Chevron. 

Now, the Trustees at the Alaska Permanent Fund and their new CIO get the "WTF are you thinking" question mark.  Talk about an institution that is drowning in self doubt, confusion, and has forgot what their purpose is.  One of the easy Trustee jobs in the world, all you have to is earn something and all the citizens of Alaska rejoice.  NO expectations at all, just free money from the government.  Yet, the collection of  fools tries to "maximize  total return" which has now jeapardized the dividend. 

The question is for these Trustees is: Does the hope of getting that extra one percent of return worth jeapardizing the billion dollar plus annual stimulus to the Alaskan economy?

Any sane Trustee would understand this, unfortunately, somehow Alaska has assembled six Trustees that appear clueless to their duty as a Trustees.