Redefining the Retirement Income Goal
The following is based on “Redefining the Optimal Retirement Income Strategy,” from the Financial Analysts Journal. Financial planning tools largely assume retirement spending is relatively predictable, that it increases annually…
Book Review: The Enduring Value of Roger Murray
The Enduring Value of Roger Murray. 2022. Paul Johnson and Paul D. Sonkin. Columbia Business School Publishing. Who among us does not know the contributions of Benjamin Graham and David…
Splitting the Risk: How to Manage Interest Rate Risk in Project Finance
Saudi Arabia’s economy is surging. The debt market tells the story: Banks in the Kingdom have extended more than SAR 2.2 trillion — that’s $587 billion in US dollars — in credit…
How to tell if you have a weak or strong immune system
Keep track of how many illnesses you have each year to get to grips with your immune healthVicki Turner WHEN you are under the covers, sniffling from your third cold…
Decision Attribution: Portfolio Manager Skill vs. Past Performance
A portfolio manager’s job is to make decisions — all day, every day. Some of those decisions result in trades, but many more do not. So, an important question for…
Bitcoin Mining and Local Stock Market Performance Correlations
Crypto is an uncorrelated asset class, according to its proponents, and as such ought to contribute to portfolio diversification. However, research has shown that this claim hasn’t held up particularly…
Equity and Bond Correlations: Higher Than Assumed?
Introduction Investing can seem like an endless cycle of booms and busts. The markets and instruments may change — tulips in 1634, tech stocks in 2000, cryptocurrencies in 2021 —…
DC Plan Sponsors: Seven Priorities for 2023
Defined contribution (DC) plans, among other retirement savings vehicles, are the most common ways that US workers save for retirement. DC plan programs in the United States totaled $8.9 trillion…
Have Central Bank Interventions Repriced Corporate Credit? Part 3
The Ongoing Influence of Fed Intervention The markets responded immediately when the US Federal Reserve announced it would intervene in corporate credit markets to bolster the economy amid the pandemic…
Beyond Duration and Convexity: Eight Ways to Bond with Clients
After working with private clients for 27 years, I’ve done many non-traditional things beyond offering them investment advice. I’ve gone for runs; attended funerals, bar mitzvahs, and concerts; and even…
