Martin Wolf “Never make forecasts, especially about the future.” Nobody knows who said this first. The point, however, is that we have to make forecasts, or at least guesses, about the uncertain future. Of nothing is this truer than long-term investments for delivering security in old age. The problem — inescapable, but fundamental — is that the sensible way to do this is to invest in risky assets. The risks cannot be eliminated. Someone must bear them. The question is...