What's super-gigantic and almost totally ineffective at makingmoney?

Insert your federal government joke here. But the same can besaid, sadly, for the nation's largest public employee retirementsystem, which managed to eke out a rather awful 0.14-percent netreturn on its investments in the 2011-2012 fiscal year.

The Orange County Register reports that the California PublicEmployees' Retirement System, which expects a healthy 7.5 percenton its investments to keep its $200-plus-billion in assets afloat,did not do so.

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