Comment by triceratops
2 hours ago
The S&P 500 already returns 7%. Why do pension funds need PE?
And like FIRE devotees, maybe they should model a lower withdrawal rate.
2 hours ago
The S&P 500 already returns 7%. Why do pension funds need PE?
And like FIRE devotees, maybe they should model a lower withdrawal rate.
Because if you're hired as pension manager, and you just shove all the money into VTI, you're going to feel like you're doing nothing, and eventually someone will notice your job is redundant, even if you're outperforming your peers.
And the people who hire pension managers are too stupid to see that active pension management is redundant? They haven't read A Random Walk Down Wall Street?