Pension Fund Red Ink – Check Out Your State

“Stay wary, alert and very, very nimble.” – Art Cashin Managing Director, UBS Financial Services Government Pension Plans Are Headed For D I read Art’s letter almost every day and, boy, do I enjoy his wit, his compassion and his brains.  In the spirit of Christmas, his post this morning was fun. ‘Tis three days before Christmas and at each brokerage house The only thing stirring was the click of a mouse Down on the Exchange the tape inches along Brokers bargained and traded as they hummed an old song The Fed turned data dependent or so they would claim…