Description: Investment Fallacies: The Myth of Time Diversification

Description: Investment Fallacies: Future Equity Returns

Description: In this video Eric Milner, ASA MAAA explores financial risk management and hedging strategies, catering to both seasoned professionals and newcomers. It covers essential topics such as hedging techniques to stabilize portfolios, determining optimal hedging rations, and assuring risks using metrics like Value at Risk (VaR). Additionally, it delves into various risk management categories including credit, interest rate, foreign exchange, equity, volatility, and liquidity, emphasizing the importance of understanding these strategies for maintaining financial stability in dynamic markets. Contributors: Eric Milner, ASA, MAAA ; Fiona Fan FSA, MAAA; Emelia Bruera, FSA; Jon Forster ASA, MAAA

Description: How to set asset assumption, at the cycle or through the cycle and other considerations

Description: This article analyzes the events leading to low interest rates and recommends careful asset/liability management and risk analysis to address future challenges with interest rates.

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

Description: The winners of the Investment Section's 2016 Asset Allocation Contest are announced, along with a recap of the contest and market performance.

Description: This session will serve as a guide on how to implement a factor-based optimization in the Strategic Asset Allocation process. The session will review a factor-based investing approach and cover the top-down macroeconomic drivers of risk and return for various asset classes. We will then illustrate implementation of this investing approach and determination of an optimal Strategic Asset Allocation through a pension fund case study. There will be an interactive element to the session as the factor sensitivities of various portfolios can be examined in real-time.

Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: Despite a clear need and demographics which should be favorable to LTCI growth, the market remains stalled due to lack of understanding on the consumer side, and uncertainty on carriers' side. The 3 key risk areas for carriers are morbidity, terminations, and investment earnings. Financial market innovations which can address these include: repackaging risks as derivative securities, interest rate swaps and options, and inflation swaps.