> And why did those socially vital funds invest in a boom/bust industry?
Because retirees like when their funds earn more than T-bills and actually beat inflation and that entails taking risks. Otherwise everyone can work a hell of a lot longer.
Because retirees like when their funds earn more than T-bills and actually beat inflation and that entails taking risks. Otherwise everyone can work a hell of a lot longer.
“Beat the market” on the upside, “take from everyone” on the downside. Win win!