I found the relative size of these bubbles surprising (https://public.flourish.studio/visualisation/12405521/). I hear so much about the large Nordic (*googles nordic vs scandinavian*; realizes it is 2023 and *ChatGPTs nordic vs scandinavian*) and Middle Eastern SWFs and hear lots of “bad news” about US pensions that I would have guessed these bubbles would be different relatives sizes. But looking at the bubbles makes sense after reminding myself just how big the US economy is compared to the rest of the world (around a quarter of global production).