6min chapter

Long Story Short cover image

Alpha That Makes a Difference; 2022 in Review and a 2023 Outlook with Luke Ellis, CEO

Long Story Short

CHAPTER

Is the UK Pension Crisis a Fat Tale?

The UK pension crisis was somewhat predicated on a lot of buying of gilts by pensions as part of liability hedge programs. I think that people thinking about sterling at point nine and so on is one of those classic extrapolation things where they just got over excited. You know, you buy something for 25 years with a two and a half percent negative real rate per annum. It's hard to create by yields going high rapidly again because they have to go a long way. If we see those indexing guilt yields going negative again, I'm not sure any lessons have been learned in the LDI crew about not buying them when they have negative real yields. And then secondly,I can

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode