Sounds like they are changing stratagies.
The $251.5 billion California Public Employees’ Retirement System (CalPERS) gained 9.3% on its real asset portfolio, and plans to invest more next year, according its annual report for the 2011-2012 fiscal year. As of June 30, the fund’s real asset portfolio totaled $4.69 billion.
Sounds like that porfolio did better than the commodities.
Maybe they shouldn't have listened to some on GT about buying gold.