Description: Measuring Fair Value for Participation Units of Stable Value Pooled Funds

Description: This article questions the validity of long term market return expectations using macroeconomics and analytical arguments.

Description: Municipal Reinvestment Contracts by Victor Modugno from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: What is going on with the exchange rate, anyway? In 2002, $1 U.S. bought $C 1.60, and now in May 2005 you only get $C 1.25—that’s 20 percent less! Where’s it going next? One way to answer that question is with a time series model.

Description: Short for Chartered Enterprise Risk Analyst, this new international credential encompasses the most comprehensive and rigorous validation available for enterprise risk management.

Description: Chairperson’s column discussing the effects of the recent financial crisis and other topics.

Description: This is a book review of Uncertain Times: A Chief Investment Officer's Journey, by Alton R. Cogert.

Description: Feature article discussing how insurers have reflected volatility in asset return assumptions when determining capital requirements, but have largely disregarded the impact of mortality volatility on their liability assumptions when performing stochastic analysis.

Description: Interview with investment actuary Carl Hess, head of Towers Watson global investment practice, on his background and career path.

Description: Provides a metric based on the concept of "entropy" from information theory/signal processing, for modifying a stochastic scenario set to meet pre-defined targets on average across the set. Explains the concept and develops it in simple examples. Illustrates why an optimal adjustment to the scenario set is one that maximizes entropy. Provides guidelines to limit use of the technique appropriately and avoid invalid application of the tool.