Fund's managers need to be replaced

Posted: Thursday, February 12, 2009

This is a open letter to all. As a retired federal employee, I find my services are needed again. My last service was as a civilian (military) technician (helicopter mechanic) for the Alaska Army National Guard. This time, the Permanent Fund Dividend needs my help. Why do I say this? Look at what the fund's managers have done to it.

The fund's managers have been making risky investments for some time. I have my contacts. In my opinion, these managers need to be fired. Or, charged with criminal incompetence.

In their defense, one could say, "who could of predicted the stock market downturn?" Well, I did. Two months after the market peaked at more than 14,000 points, I shifted all my funds to government bonds. Something was going on in the market. Things weren't right. So I moved all my money from the International Funds to government bonds.

When I retired, I optioned to keep my 401K account funds in the federal Thrift Savings Plan. For the year 2007, the return on my money was plus 13.42 percent. In 2008, my return was 3.75 percent. Not a great return for 2008, but it was a plus. Gov. Sarah Palin fired those fund managers. Hire me. If anything I can throw darts as well as they can.

David Hurlbut

Juneau



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