[bacon]

P/E ratios are 60% over fair value for equities so it's likely the market will have a correction soon anyways. But for younger investors thinking in investing from a long term view equities are still your best bet for good returns. The older retirees will likely move more of their portfolio into conservative less volitile sectors but I don't think this will be as significant as some are predicting just because they still need to get good returns and little else can provide that these days short of equities. Some will sell their equities to get an annuity but those annuity companies will just move to investing the lump sum they get from retirees back into equities. One guy Harvey Dent has some doomsday predictions on the boomer withdrawl from spending as much as they did when they were younger and how it will impact the overall gross domestic product which would impact equities negatively. That does seem like a viable argument for impacting companies growth domestically IMO.