Description: This article, with some humor, describes a movement known as “econophysics” of physicists modeling economic systems, including capital markets, using techniques and concepts developed in studying the out-of-equilibrium dynamics of complex systems. A version of this article appeared in The Actuary UK in August 2004. Reprinted with permission.

Description: In this article chairperson Anthony Dardis takes a look back at the achievements of the Investment Section Council halfway through his tenure as chair.

Description: In reference to the book Fooled by Randomness by Nassim Nicholas Taleb, Steven Scoles describes our ability to detect patterns in certain aspects of life and how these patterns may in fact be simple randomness.

Description: As we meet with pension plan sponsors and consultants across Canada we find that the subject of liability-driven investing LDI comes up repeatedly even when we do not initiate the discussion. We also find that LDI seems to mean something different to each person we meet. Is LDI just a new name for asset/liability management ALM? Or is LDI just about hedging interest rate risks with fancy securities? In this article we describe a framework for understanding what LDI is, how it relates to ALM, and how it can be used to solve real-life problems for Canadian pension funds.

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: Column from the chairperson of the Investment Section.

Description: Feature article discussing the current state of interest rates globally.

Description: Crossword puzzle featured in the September 2020 issue of Risks & Rewards.

Description: This article discusses the conflicting opinions surrounding proposed 1998 legislation that would have authorized mutual life insurance companies in New York to reorganize as stock companies through the formation of upstream Mutual Holding Companies.

Description: The purpose of the article is to discuss the benefits of small policy purchases by seniors, describe the market and distribution for these small face amounts of life insurance, and demonstrate the dimensions of the market.