The other problem with the market is that the baby boomers will be doing more selling than buying as they age, as will their pension funds...
Demography is destiny, so it is more likely that the market will be undervalued in the next couple of decades than overvalued.
I'd be interested in knowing what percentage of the market is held by 401(k)s. I have a feeling it's not enough to have that significant an effect on the market. But I don't know that. It's only my gut telling me that. So I did a very quick google search, and it looks like a rough estimate might be 37%, without looking into it any further. So maybe I'm wrong. It'd be interesting to know.
Good morning.
Lookner retweet:
Someone I’m close to went to NJ testing center this morning. It opens at 8am. Got there at 6am. Police told her to leave—so many people already on line they can’t take her today.
https://twitter.com/GZuckerman/status/1242800346965127173