Oh man, just when you thought albany had screwed us enough...

http://www.crainsnewyork.com/article/20091029/FREE/910299991/1057/newsletter "The New York state pension fund is plowing money back into hedge funds, with plans to invest more than $1 billion by year's end. This after the hedge fund industry experienced its worst year in recent memory, with most funds losing an average of 28% over 2008. The New York Common Retirement fund took a beating in 2008, dropping to about $110 billion from more than $150 billion. As the equity markets rebound, the fund is looking to make back some of those losses" Yes, the best investment strategy has always been to throw your money at whatever is hot. God help us.