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Calpers reviews its hedge fund strategy

After ten years of hedge fund investing, CalPERS is taking stock of its portfolio — with CIO Joseph Dear leading the charge.

Joseph Dear: Paying for beta in a hedge fund is not a smart strategy (Photographs by Lisa Weisman) Joseph Dear has one of the highest-profile investing jobs in the world—and one of the hardest. As chief investment officer of the $229.4 billion California Public Employees’ Retirement System, the largest

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