I’ve said for years that retirement portfolios have only one direction to go, and that’s to encourage the stock market to eventually cater to retirement holding

I’ve said for years that retirement portfolios have only one direction to go, and that’s to encourage the stock market to eventually cater to retirement holdings. I’m wondering when the large retirement fund managers will start pushing companies to act extremely conservatively with change/direction in an effort to keep their investments growing. Unfortunately if this happens then there’s less of an incentive to innovate or try new things, which seems like the start of a widespread death spiral.