State Treasurer: Wyoming Will Withstand Downturn
Laramie, WY – The state treasurer says Wyoming does not have large investments in the companies that have gone bankrupt or got bailed out in the last two weeks.
Joe Meyer says the state has invested conservatively, but still has some exposure to stocks that have bottomed out, like Lehman Brothers: "Since we own S&P 500 index, that means we own stock in every company on the 500, we had some exposure to Lehman. And certainly we're not going to sell it. We're going to see what happens. But that's .17 of one percent of the overall diversification."
Meyer says Wyoming's stock portfolio has gone down in value just like everyone else's... but he says it's well-diversified and will withstand the latest downturn.