H. Carl McCall, 64
New York state comptroller; sole trustee, New York State Common
"Over time, the stock market will be the most important market and the best asset class. But 25 years from now, I think we'll see more investment in private equity and more geographic diversity. Asian and emerging markets will come back and there will be more international focus.
"Technology will become more important than it is now. It will be of a better quality . . . It will give us (pension funds) the ability to manage more of our assets internally."