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Orange County Employees Retirement System

Orange County, California, is known for its theme parks, wealthy beachfront communities and eponymous orange groves.

Orange County, California, is known for its theme parks, wealthy beachfront communities and eponymous orange groves. It's also known for racking up the biggest loss for a local government investment pool. In 1994, Orange County lost $1.6 billion on a leveraged bet by treasurer Robert Citron that interest rates would fall or remain low. They

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