[removed my moderator]
The above passage talks about comparing a publicly traded company’s decision to allocate 100% of pension assets to the FI category to an individual’s decision on asset location based on tax status. However, I’m failing to see the parallel. I understand that an individual has a choice on up to 3 accounts (TA / TDA /TEA) into which to divy up his asset classes. But how does a publicly traded corp have the same two options? What is the parallel to a “taxable” account in which a publicly traded company would hold tax advantaged securities for the benefit of its stakeholders?