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On Air Staff and WPM Interns
Fri April 23, 2004
Economist Critical of Wyoming Investment Policy
Cheyenne, Wy – An economist says Wyoming's investment policy is too conservative. Doctor Shelby Gerking was a professor at U-W for 20 years. He says the state treasurer's office keeps too much money in cash. He compares Wyoming to Alaska because that state has about 50 percent of its money in in the stock market. Wyoming has about 10 percent of its money in the markets. Gerking says Alaska makes 2% more on their investments. If Wyoming got this rate of return he says the state would get 80 million dollars more every two years, which translates into $100,000 per day. State Treasurer Cynthia Lummis says Gerking only looked at one year and her office was waiting for the market to stabilize. Gerking says the state should NOT wait because it is best to invest when the market is down.