Coming off a strong year for corporate earnings and economic growth in 2021, the global economy has been hit with myriad headwinds in 2022. The unfathomable sequence of events occurring in Ukraine is certainly top of mind. Beyond the horrific human tragedy, there has been a significant ripple effect on global commodity prices. This has added to already mounting inflationary pressures from ongoing supply chain problems and has led central banks around the world to expedite their rate hike plans in an attempt to get inflation under control. 

TEXPERS members are trustees, administrators, professional service providers, employee groups, and associations engaged or interested in managing public employee retirement systems.

When advising our sons and daughters on how to invest for their retirement in roughly 60 years, we point them to stocks and the budding venture capital ideas of their classmates. The same advice might also hold true for perpetual institutions with a nearly infinite time horizon, no annual cash-flow requirements, and a passing interest in market volatility.