‘Minimize Risk’ Is Guiding Principle
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* So now our public servants and advisers are trying to decide if Mr. (John M.W.) Moorlach and his staff are competent “to handle the $5-billion portfolio” of Orange County (“Adviser Urges Outside Money Manager for Now,” April 7).
That is a whole lot of money and caution is necessary in its investing. My concern is that the skill being sought is how to “maximize” return while “minimizing” risk. A noteworthy goal for any private investor, but this is public money for which, in my opinion, the guiding principle must be “minimize risk,” period.
In trying to enhance revenue, Mr. (Robert L.) Citron did well for a while and we all benefited.
But we are paying for that now and, it seems, for the next 10 years.
Rather than continue to play “Who Do You Trust?” can we not use an investment scheme for public money that the majority of taxpayers can understand?
Part of that understanding must be that it will be our taxes that must pay for county services, not the interest on investments.
FORREST BONNER
Huntington Beach
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