Warren Buffet on Public Pensions and the queen in Alice in Wonderland

Warren Buffet, in his 2007 letter to Berkshire Hathaway shareholders, wrote of anticipating an 8 percent return for public pensions: “Many [advisors] are apparently direct descendants of the queen in Alice in Wonderland, who said: ‘Why, sometimes I’ve believed as many as six impossible things before breakfast.’ ”

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