Cal STRS looking at commodities play

http://www.bloomberg.com/apps/news?pid=20601087&sid=adUC4S1obfh4&pos=7

The California State Teachers’ Retirement System, the second-biggest U.S. public pension, is considering investments in commodities to boost returns and provide a hedge against inflation and slumping equities.

The governing board of the fund, with $134 billion under management, is scheduled to hear today a staff report in Sacramento that recommends its first-ever commodity investment. The board will decide whether to seek additional research on strategies and portfolio weightings.

Given their poor timing and wrong-way investments, is it time to exit the commodities reflation play? They're only a year late.