Description: At our Houston meeting PD l, Donald D. Hester, Professor of Economics at University of Wisconsin, outlined a novel investment system aimed at protecting purchasing power of the lender’s funds from inflation’s ravages. This article is summary of that presentation.

Description: Digests of following discussions: 1. Mutual life insurance companies - their objectives and operating philosophy 2. State, provincial, and municipal employee pension plans - financing and other problems 3. Mortality and underwriting of individual policies for large amounts 4. Investing during the 1970's 5. Long-range viability and regulation of corporate pension plans 6. Forecasting the environment for business 7. Liabilities and surplus in the 1970's 8. Changing modes of family life - work and income over the life cycle 9. The role of the actuary in collective bargaining 10. Health insurance in the United States 11. Adjusted earnings

Description: This articles explores the notion of whether the old rules and paradigms of investment strategy and caution may no longer be applicable in today’s financial environment, because things were “different this time.”