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Wishful thinking in a world without yield

JUNE 21, 2021 | by Jason Zweig | THE WALL STREET JOURNAL

By Jason Zweig, includes “At first glance, the Pennsylvania Public School Employees’ Retirement System, one of the largest pension plans in the U.S., doesn’t sound anything like you or me. … Yet, at the most basic level, this gigantic retirement plan is just like you and me: It is struggling to raise returns in a low-interest-rate world. That can breed desperation, and wishful thinking, for anyone with a portfolio large or small. …”

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