Calpers Right to Heave Out Hedgies Says 'Talent Economy' Author

Calpers was entirely correct in cutting high-fee, underperforming hedge funds from its pension portfolio, said Roger Martin, author of the Harvard Business Review article titled 'The Talent Economy'.
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Calpers was entirely correct in cutting high-fee, underperforming hedge funds from its pension portfolio, said Roger Martin, author of the Harvard Business Review article titled 'The Talent Economy'. Martin said hedge fund managers are taking a wildly disproportionate share of the profits and this will ultimately lead to more pension funds following Calpers lead. He said technology entrepreneurs are more valuable to the economy than money managers because they create value as opposed to trading value. Finally, he said the government should step in if the free market will not solve the problem of wage inequality.