Demographic types get terribly excited about epochal moments. The good news is this year is, apparently, one of these important moments, as it is the year in which the average baby boomer turns 55.
The implications of this profound greying of the national populace are of huge importance, especially to dour investment types. The only problem is that no-one can quite agree on whether it is good or bad news for equity investors. On the bearish side of the debate is consultant (and chairman of International eChem) Paul Hodges who has just written an excellent primer on the subject called Boom, Gloom and the New Normal. The bottom line is that all this ageing is probably bad news for anything remotely risky and good news for long maturity bonds. If Hodges is right, bonds will probab...
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