The Boomer Selloff Narrative: Why Demographics Rarely Crash Markets by Themselves
Every few years, a variation of the same fear makes the rounds among investors: as tens of millions of baby boomers retire, they will flip from being buyers of stocks to sellers, turning the market’s longtime tailwind into a steady headwind. It is a tidy story. It has a timestamp, a named protagonist, and a logical mechanism. The problem is that tidy stories in finance usually paper over the complexity underneath.