Friday, December 28, 2012

Hewlett Packard Pension Fund - a final post

I have written three posts on HPs pension fund. I also wrote to HP outlining several of my main concerns.

HP filed a 10K and gave me a detailed response to other concerns. They also hired external audit people to check.

First observation: A good proportion of the gains were from total return swaps on very long US government bonds. I thought that unlikely - but many of my blog readers (correctly) guessed it.

Second observation: All my other concerns appear groundless. (I am not going to bother detailing them as they were groundless.)

I was wrong. It happens a lot unfortunately.

Kudos to HP on transparency

I have written many letters to companies before - most to very dodgy companies. I have never received a response as transparent as HP. Kudos to them.

As for Gretchen Tai. Her asset management looks pretty good.



Simon Forrest aka sinoforestanalyst said...

It takes a big man to publicly admit being wrong. Kudos - sinoforestanalyst

Anonymous said...

Her liability matching paid off might be more accurate. But hey, same difference.

dearieme said...

Kudos to JH on transparency

Anonymous said...

So what was the response?

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