Parabolic Trend Failure of the Day: The Stock Market

The following chart shows the 5-year moving average of real nonfinancial corporate equities per capita (June 2014 dollars).


Click to enlarge.

Nice parabola.

November 12, 2014
State pension funds' combined underfunding rises to $4.7 trillion — report

The report measured state public pension liabilities by market valuation instead of discount rates based on investment return assumptions because “the discount rates that plans use are just far too high,” said Joe Luppino-Esposito, State Budget Solutions general counsel and the report's author, in an interview.

Big shocker.

November 19, 2014
Nearly 80% of pension funds to take on more risk, study predicts

More than three-quarters of pension funds around the world expect their appetite for investment risk to increase over the next three years to meet long-term liabilities, research shows.

Good luck on that.

And people wonder why I'm a permabear?

Source Data:
St. Louis Fed: Custom Chart