Description: Bond Prices, Yields, and Convexity by Macroeconomic Advisers from Risks and Rewards Newsletter, April 2000, Issue No. 34.

Description: Time Track: Analyzing Historical Asset Returns by Richard Q. Wendt from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: The author, head of Alternatives Investment Specialists at Fortis Investments, recently presented a research paper on the potential benefits and possible pitfalls of investing in illiquid assets. This newsletter provides a brief summary of that paper. The full paper is available upon request.

Description: Feature article discussing the newly developed Build America Bonds BABs.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: This paper shows that the Esscher transform is an efficient technique for valuing derivative securities if the logarithms of the prices of the primitive securities are governed by certain stochastic processes with stationary and independent increments. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: Discusses the drawbacks of using adjusted book value instead of market value for the valuation of common stocks in a non-insured pension plan.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: The author discusses how the use of a weighted average dollar duration book yield, WADD, rather than the more traditional book yield determined by book value or market value weighting, can provide a better basis for determining the crediting rate on the liabilities.

Description: 1999 Market Triathlon Results by Frank M. Grossman from Risks and Rewards Newsletter, September 2000, Issue No. 35.