Having a bunch more finance jobs in Alberta is clearly a benefit to having an APP.
There are 2 downsides that I think are almost entirely offsetting.
1) those jobs would be at AIMCO, and they are (imo) terrible. We've had this discussion before, but they sold volatility going into Covid, and instead of admitting the error and correcting they were like "nothing we could have done, all asset classes went down". Except, you know, volatility, the one asset class where they had a huge short.
2) Albertans wouldn't get to share the cost of those highly paid finance professionals with the rest of Canada any more.
I think Smith is an idiot, but if we could get the CPP's private investment division moved to Calgary as part of a deal to stay that'd be a big win, imo.
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