There are interesting parallels w/ EMs & impact of pensions on asset prices. Why wouldn’t it be the same for DMs?
Do EMs have a lot of money tied up in pensions and then are those pensions in the stock market?
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LatAm pensions do. I don’t really follow other EM pensions but SOEs have a similar effect imo.
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I would've thought it's a different situation because, typically, EMs have a much younger population and therefore the time horizons are totally different.
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But, I don’t think this is a reason to buy EM per se.
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