You know you're not being fair with that take. Clearly, I am aware of the CPPIB's structure even citing the Office of Chief Actuary's report regarding downside

You know you're not being fair with that take. Clearly, I am aware of the CPPIB's structure even citing the Office of Chief Actuary's report regarding downside scenarios and health scores. [0] [0] https://www.osfi-bsif.gc.ca/en/oca/actuarial-reports/actuarial-report-32nd-canada-pension-plan https://www.osfi-bsif.gc.ca/en/oca/actuarial-reports/actuari... edit: > if a retirement fund had put all their money into a stock index in 1926, it wouldn’t have been able to pay out pensions throughout the 1930s and 1940s Point was that this/your rationale doesn't apply to CPPIB's situation.