Well, of course it was solid when everything was expanding. The problem with limited the downside is when things contract.Stormy_Monday wrote: Thu Feb 13, 2025 8:56 am I found this "strategy" amusing. This is part of the reasons that European industries are having their clocks cleaned. IMHO
Similar issue as what happened to defined-benefit pensions. As companies expanded and there were more active employees than retirees, all was great. When the reverse happened and companies start to do layoffs and there were more retirees than active employees,and those retirees had a pesky habit of living longer than in the past, the whole pension model collapsed.