Andy Lang
01-15-2003, 05:28 PM
I take back some of what I said about Biggs: He has been a huge supporter of SS privatization and a card-carrying member of the most right wing organization in Washington DC, The Cato Institute.
Also, it appears he might have a relative, maybe his son, Andrew, doing exactly the same thing.
By the way, you do know that there is a major study now quoted in several financial publications that the stock market returns by individual small investors were only a bit above inflation for the past 20 years--around 3-3.5% while the market was getting a compound rate of more than 15% per year.
Guess what--the ones who did even better than the market were DB pension plans.
You do know of course that a mere 1% higher rate of return on a retirement fund will lower cost by around 15%.
The function is non-linear, but you get the idea.
So much for the DC versus DB controversy.
Also, it appears he might have a relative, maybe his son, Andrew, doing exactly the same thing.
By the way, you do know that there is a major study now quoted in several financial publications that the stock market returns by individual small investors were only a bit above inflation for the past 20 years--around 3-3.5% while the market was getting a compound rate of more than 15% per year.
Guess what--the ones who did even better than the market were DB pension plans.
You do know of course that a mere 1% higher rate of return on a retirement fund will lower cost by around 15%.
The function is non-linear, but you get the idea.
So much for the DC versus DB controversy.