US Pension Funds are implicitly betting on Dow 40,000

Advertisement Remember absurd books like Dow 30,000 or Dow 36,000 or the eponymous Dow 40,000? In 2008, I labelled them "Five Books not to buy." Well somebody must be buying them because Dow 40,000 is implicitly what pension funds are expecting by the year 2030. SocGen’s Andrew Lapthorne had a good piece out on this
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