When zero earnings are (relatively) good
Idaho's state endowment fund lost 4 percent in November, the state Land Board learned this morning, "which brings the fiscal year-to-date to a whopping 25," said manager Larry Johnson. The loss to the fund in November was 4.4 percent; fiscal year to date, it's 25.2 percent. "We're in very unusual times," Johnson told the Land Board. "If it's a small consolation, so far in the month of December we've earned zero. The investment managers are performing as we would expect they would."
