joining me now is amy resnick, executive editor at investment magazine. this was really a shocker for a lot of people to hear that calpers, which is considered sort of like a bellweather for the pension fund, is dropping out. do you believe it will affect other institution managers? >> i think any time a big corporation like them make a change, the sudden change was a big price yesterday. but i think their decision will make everybody think about what they're doing and maybe go back and reconsider or review their own internal allegations. >> the big complaint was that these hedge funds were too expensive and complicated and didn't get the kind of performance they wanted. >> i think that calpers said with the pension fund their size which is nearly $300 billion and the allegations to hedge funds that they had, which was only $4 billion, that their investment they paid was not significant enough to get their returns and the results they wanted. so they have made other choices. i think those numbers, the a allocation and size would be something everybody has