Description: Hedge funds have grown tremendously over the last few years and will continue to grow, with invested assets currently being estimated at well over $1 trillion worldwide. The author concludes “I do strongly believe that the contradictory philosophies of traditional investment management versus hedge funds have to be carefully considered, reflected upon and evaluated ...”

Description: This article shows a different form of the Black-Scholes formula for European calls and puts under risk-neutral assumptions, that permits a comfortable verbal interpretation. The derivation of this alternative form appears at the end of the article.

Description: This article provides key insights and data samples about various approaches to pension investing. Article from Risk and Rewards, August 2006, Issue No. 48.

Description: This article examines trends of the stock market beginning with Dow theory - market prices tend to trend either upwards, a bull trend, or downwards, a bear trend. It discusses the many trading rules based on diverse patterns in the price series since the time of Dow including strictly filter rules.

Description: This article discusses facts and issues related to the selection of a stock’s price distribution.

Description: “Investments in securities are traditionally evaluated on a standalone basis by using ratios that summarize the relation¬ship between anticipated risks and rewards. These ratios could also be used to better quantify the relationship between the standalone risks and rewards of life and annuity products and thus enhance the capital allocation process. These ratios will be discussed and critiqued.” The article describes how “the . . . ratios can help tie modeled product risks to modeled rewards.”

Description: “It’s interesting to note that, given the past year’s reversal of fortunes in the stock markets, all the media rap about heated inquiries around back-dating options has stopped.”

Description: This article explores the market volatility of 2008, and addresses the following question: “was the market behaving inefficiently as appeared to be the case in 2008, or was there something truly rational going on, which for most people was hard to see?”

Description: Feature article discussing the variable annuity industry rebuilding and reinventing itself.

Description: Feature article describing how due to the recent financial crisis, fund trustees, plan sponsors, and administrators are reconsidering traditional asset-allocation strategies.