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I have to respectfully disagree with the statement given by Mr. Wolfgruber at Oppenheimerfunds that the losses are attributable to a bad market. The two most conservative portfolios for the Oregon Plan were heavily invested (more than one quarter of all the assets) in Oppenheimer’s Core Bond Fund, which was not managed as a conservative fund. Yes, market conditions in the last 6 months have been extremely unfavorable to investors. But, portfolio managers are professionals paid to manage risk. Conservative portfolios should never incur the losses like those suffered by the Oregon College Savings Plan. There was no excuse for taking the risks that were taken. They gambled and we lost. I posted some information on the subject on our website www.bankslawoffice.com.
posted 4 years, 3 months ago
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