Post

I wish I knew why more Canadians aren't outraged by the CPP investment board. They manage our retirement pension fund, and they also choose the criteria by which they are judged.

Patrick Doyle 🇨🇦

@patrick.doyle.lol

2 Sept

In 2024, their sophisticated investments have underperformed a simple passive benchmark by over 10%, which harmed their performance bonuses. They responded not by changing their investment strategy, but by CHANGING THE BENCHMARK.

Patrick Doyle 🇨🇦

@patrick.doyle.lol

This should be a scandal, and yet somehow it's not. The old benchmarks should be legislated back, so that the CPPIB is required to report on whether they are capable of outperforming a simple passive investment strategy.

2/9/26, 12:03 pm0 reposts1 like

Patrick Doyle 🇨🇦

@patrick.doyle.lol

2 Sept

Why in the world are we paying over 2100 people to do a worse job than a passive index-based strategy that could be executed by a dozen people? crr.bc.edu/canada-pensi...

crr.bc.eduCanada Pension Plan Falls Short of Indexed Benchmark