Description: The paper demonstrates that the most popular rationalization for evolving glide paths is flawed and should be discarded. The paper also demonstrates that glide paths should generally evolve for investors that endeavor to optimize outcomes and reevaluate their portfolios regularly.

Description: This survey of emerging risks attempts to track the risk manager population‘s thoughts about emerging risks across time. The top 4 emerging risks from this third iteration of the survey are: 1. US current account deficit/fall in US dollar. 2. Blow up in asset prices/excessive indebtedness. 3. Oil price shock/energy supply interruptions. 4. Chinese economic hard landing.