@article {Ambachtsheer61, author = {Keith P. Ambachtsheer}, title = {Public Pension Fund Power}, volume = {27}, number = {2}, pages = {61--64}, year = {2001}, doi = {10.3905/jpm.2001.61}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The quotation is from Mr. Greenspan{\textquoteright}s testimony to Congress in 1999 on the Administration{\textquoteright}s proposal to invest a component of the Social Security Trust Fund in equities. As a response to that testimony, we were asked by a number of U.S. public sector pension funds to conduct a study into Mr. Greenspan{\textquoteright}s assertion. That study concludes that a sample of 34 U.S. public sector funds marginally outperformed a sample of 51 U.S. corporate funds on a cost- and risk adjusted basis over the 1994-1997 period (see Ambachtsheer, Hawn, and Scheibelhut [1999]).}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/27/2/61}, eprint = {https://jpm.pm-research.com/content/27/2/61.full.pdf}, journal = {The Journal of Portfolio Management} }