Questionable investment strategy

April 15, 2011

Letter writer A. Melissa Moye, interim chief investment officer for the Maryland State Retirement and Pension System, misses the main point of your recent article about the Maryland pension plan's questionable investment strategy ("State pension system takes the long view," April 12).

How many advisors and consultants does it take to give bad advice, such as the disastrous plunge into international securities?

How much would be saved in fees for the retirement system if all these advisors and consultants were dismissed forthwith, perhaps just retaining one advisor to give bad advice?

Edwin Hirschmann, Baltimore

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