Dow Breaks 20,000, Wyoming State Treasurer Urges Caution
The Dow Jones Industrial Average made history on Wednesday by blowing past 20,000 for the first time ever, but Wyoming State Treasurer Mark Gordon says that doesn't mean it's time for the state to throw billions into the stock market.
"It's great that it hit record amounts, our equity portfolio is performing quite well," said Gordon. "It doesn't mean it's time to go crazy in getting into the market."
As you may recall, Wyoming voters gave state leaders the green light to put more tax dollars into the stock market when they narrowly passed Constitutional Amendment A in November.
"We're going to take our time and make the wisest choices we can," said Gordon.
Gordon says the state is looking at four trust funds, including the tobacco settlement trust fund which already sits in Wyoming's portfolio.
"We put that forward to the Legislature and we said, 'Look, let's start very small and very cautiously with these four funds,'" said Gordon. "They're in the process of walking that through."