In these times of economic crisis, pension underfunding and public budget deficits, CalSTRS, the big California pension fund, is looking for an edge. Its plan: hire a world-notable economist. The CIO of the $150 billion fund, Chris Ailman, told the CalSTRS investment committee his staff was reviewing qualifications of top economic theorists in hopes of retaining “a Nobel Prize–caliber expert” to advise the board and staff.
That’s precisely the kind of high-profile assignment that should appeal to noted economic thinker and legendary doomsayer Nouriel Roubini. A spokesman for the NYU Stern School professor and consultant declined to say whether Roubini would apply for the post. It may just be an odd coincidence, but he got a unique shot at showcasing his smarts as a key speaker last month at the Milken Institute conference in Los Angeles. The event was attended by California Governor Jerry Brown and State Controller John Chiang, who serves on the CalSTRS board.
