The lunatics have taken over the asylum

This has been ongoing since 2002, as pension funds seek to secure their position in the face of apparently huge deficits. Meanwhile, the large life funds have sold equities to meet the requirements of the regulator, which will inevitably lead to poorer investment returns from with-profits investments in the future. Is it any wonder that confidence in with-profits investments and company pension schemes is at an all-time low? What has happened, and indeed what is still happening, is that these institutions are letting their investors down by committing one of the most fundamental and basic...