The Feature image is from GMO's Third-Quarter Report as of 10/31/2017.

The report, which I highly recommend reading states, "*The chart represents local, real return forecasts for several asset classes and not for any GMO fund or strategy. These forecasts are forward-looking statements based upon the reasonable beliefs of GMO and are not a guarantee of future performance."

Pension Funds' Dilemma

The Wall Street Journal notes a pension dilemma and asks: What to Buy When Nothing Is Cheap?