Description: This article compares the best estimates of the Investment Section members those who submitted entries for the 3-month Treasury bill rate, 30-year Treasury bond rate and the Dow Jones Industrial Average index value and year-end 1999 with the actuals.

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: Feature article discussing the too big to fail principle and whether or not strong competition is ideal in terms of the banking industry.

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

Description: During March 2020, COVID-19 concerns escalated in the U.S. and lockdown measures were announced. Market returns in March 2020 were quite extreme and choppy, alternating between days of huge gains and losses. As investors prepare for the future, it is important to understand whether these volatility surges and sharp movements are understood and captured by commonly used models. In this article, we will explore equity market performance in 2020 using the S&P 500 Total Return Index (SP500TR) and the relevant equity modeling implications

Description: Summarizes the state of US government balance sheet and defends the view that inflation will not rise sharply in the next few years.

Description: A discussion of the theoretically correct approach to the valuation of cross-border insurance ventures

Description: Editors discuss the articles in this issue.

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.”