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The conventional wisdom is that old folk should have less equity in their investment portfolios than youngsters do and favour less speculative assets like bonds. But elderly Americans are ignoring that advice: over-70s’ share of the stockmarket has shot up. Our analysis explains why septuagenarians, too, are susceptible to FOMO, and why that’s a risk for the markets.
In other news, the House of Representatives is preparing to take up legislation to end the longest shutdown in American history. The measure passed the Senate on Monday. The bill fails to address the Democrats’ central demand: an extension to health-care tax credits that will expire at the end of the year. But the drama has focused attention on the issue. | 
