mr. hewitt. >> you should have in front of you a presentation called the blue shield non-medi-cal experience as you probably remember we started in 2013 and we are fortunate able to lower the premiums from the proposed fully insured amount that blue shield was suggesting we held them flat under 2013-2014 and into 2014 and absorbed a little bit of the alternate claims expense and if you look at this example and run our eyes coordination it it shows the various items costs by month to month and at the bottom you'll see the premiums for the full cost loss ratio was this number indicates were it was a one hundred and 4 percent it varied what we brought in covered the costs at the end of the year we brought in $275 million and we spent $290 million that was approximately $5 million of the dollars were used to fund our r n r reserve and could notcy reserve in june of 2014 we analyzed the reserves has part of the annual audit progress from 48 to $22 million we have a reserve and moved it another $900,000 approximately and so from an actuary be prospective we'll expensed all the items and their you

mr. coker and hewitt came to you with the recommendations at the beginning of what should have been an open and objective process the answer was hedge funds before the questions were asked and in fact the right questions may not have been asked this is not prudent and careful and not skillful and not delinquent as far as i, tell the gentlemen gave you information only how the hedge funds are not risky and they're the observe choices authenticity to the on and objective so again, i have to ask why, why are hedge funds and other investments that have higher fees than other options being pushed so hard by the c i o this makes me dough the integrity of the process i think if you were doing euro job you'd question that when hear that mr. poker and the other gentleman refuse to pick up the phone and ask questions that should have been one of the first steps taken it was not done ever i know i'm beating the deadors those are two of the greatest investors to size us to stay away from hedge funds by the way, we have to building that that those gentlemen are smaller u smallest than warren buffett i f