Another Illustration That the Mania is not Over

Yet another day, and another "new paradigm" during this Great Mania which started decades ago now.
(Bloomberg) — BlackRock Inc.’s Quintin Price has advised his 80-year-old mother-in-law to hold more stocks as rising life expectancy pushes the elderly to seek higher investment returns.
The conventional advice, when life expectancy was lower in the past, was to move more investments into fixed income,” Price, who is responsible for active equities and fixed income as BlackRock’s head of alpha strategies, said in an interview yesterday at the firm’s offices in Zurich.

This conventional wisdom was born during a time when life expectancy was much lower and is simply no longer valid,” he said.
We’re going to see this kind of investment evolve to the point where people are going to change behavior and going to take longer-term views and going to own more high-yielding equities,” Price said. “A shift to this new investment strategy will give investors a better inflation-hedged income.”

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