Description: This presentation at the SOA 1990 Annual Meeting offers financial market perspectives on volatility, responses to volatility, new financial products, risk and performance.

Description: This article provides a retrospective on investment risk management while highlighting actuarial tools used by portfolio risk managers.

Description: The effects of climate change have been widely documented. Whether it’s rising temperatures, more frequent and violent storms or disruption to wild life, there is a consensus in the scientific community that these effects are real. What are the risks and opportunities that climate change brings to an investment portfolio? As society transitions to more sustainable sources of energy and tries to find more sustainable ways to consume, there will be winners and losers. In this presentation, speakers will discuss their process to identify winners in this changing world and highlight the risks to various industries.

Description: A research report providing a primer on the mechanics and uses of the Hidden Markov Model for actuarial and financial applications.

Description: This teaching session presented at the April 1976 meeting in Washington D.C. provides a brief outline and a bibliography related to Portfolio Theory and Investment Policy.

Description: The models that seek to determine fair value for stocks use corporate earnings and a capitalization rate such as a price/earning ratio to arrive at fair value. Nearly all such models use interest rates to set the capitalization rate. Current interest rates are assumed to be fair, as if there were no emotions in the bond market. Interest rates themselves are never viewed as too high or too low. For the past 10 years [1984-1993] stocks have been viewed as too high, in relation to interest rates. In reality, interest rates have been too high.

Description: U.S. bond markets have undergone dramatic changes due to the 2008 Global Financial Crisis (GFC) and the COVID-19 pandemic. In taking a retrospective view, we can see that bond markets, viewed through the lens of major bond indices, have been evolving for quite some time. Within this paper, TD Asset Management Inc. (TDAM) will explore underlying changes that have occurred within the U.S. Corporate Bond Index, a sub-component of the larger U.S. investment grade bond market, over the past decade. We will highlight key structural changes that have occurred within bond markets and why they are noteworthy

Description: In this session, senior pension and insurance investment professionals will share their thoughts on current investment topics. Attendees will hear about leading edge investment ideas and practices from industry leaders.

Description: Over a short span of two weeks, the financial system has observed the collapse of two mid-sized U.S. commercial banks, California-based Silicon Valley Bank (“SVB”) and New York-based Signature Bank, and a takeover of troubled Credit Suisse by a rival in Europe. Other banks that serve a similar demographic as SVB, such as First Republic Bank and PacWest Bancorp, have also experienced an elevated level of customer deposit withdrawals while their stock prices plummeted. The U.S. Federal Deposit Insurance Corporation (FDIC) quickly stepped in and guaranteed all deposits from the failed banks to prevent a broader crisis in the banking system. The current turmoil in the financial system is a stark reminder of the importance of effective risk management and regulation.

Description: The article discusses the characteristics of the high-yielding bank loan asset class.