Description: How assumptions like market returns and variable like saving rate should be incorporated into sound financial planning. How to analyze retirement readiness.

Description: Investment Fallacies: The Misconceptions of Retirement Risks

Description: This report is an update to a 2014 paper related to changes in the continually evolving pension risk transfer landscape. This updated report seeks to discuss pension risk transfer in depth and identify key de-risking actions, alternatives and triggers that impact pension risk transfer strategies.

Description: This paper attempts to fill the gap in literature by empirically assessing the adequacy of the supply of bonds, quantifying the price impact, gauging the actuarial cost, and proposing appropriate government policy measures.

Description: The following vidoe is from Eric Milner, ASA MAAA Vice President and Actuary at Risk Strategies Company. IN this video he takes us through the intricated world of investment, risks, asset allocation, and fundamental theories of quantitative finance. The session begins by dissecting Market Risk, Credit Risk, Liquidity Risk, and Operational Risk, emphasizing the importance of not just identifying but quantifying and managing these risks intelligently. Strategies for Asset Allocation and Diversification are discussed alongside cornerstone theories such as Arbitrage Pricing Theory (APT), Modern Portfolio Theory (MPT), and the Capital Asset Pricing Model (CAPM). The Efficient Market Hypothesis and Behavioral Finance shed light on market dynamics and the impact of psychological influences on financial decision-making, providing a comprehensive understanding essential for sophisticated investment strategies and informed financial analysis. Contributors: Eric Milner, ASA, MAAA; Richard Vaccaro, FSA, MAAA ; Diyi Zhao ASA, MAAA; Jon Forster ASA, MAAA

Description: This articles explains why many corporations are making massive reductions in risk related to their pension plans despite the fact that this means locking in costs at a time of historically low interest rates. This should help actuaries working with pension plans or pension investments advise clients on investment strategies and other approaches to de-risking.

Description: The impact of Fed’s QE program on the financial markets has been enormous and profound. The tapering and the eventual removal of the stimulus will be equally enormous and profound, and may be disruptive. To adapt to the potential regime change in near future, some investment strategies have been proposed: (1) shorten duration to focus on the short end of the yield curve and create laddered portfolios; (2) reduce allocation to high yield bonds; (3) rotate out interest rate sensitive sectors such as utilities; and (4) use interest rate derivatives to hedge the interest rate uncertainties lying ahead. On the other hand, contrarians who see the QE program continuing may stay the course and consider (1) adding duration, (2) gaining exposure to high yield bonds, and (3) increasing allocation to utilities and telecoms.

Description: Feature article giving update on recent issues involving principle-based accounting.

Description: Investment Fallacies: The Fable of the Storyteller and the Market

Description: E-book contains 16 topical essays that express the opinions and thoughts of a number of authors on the subject of Investment Fallacies.