After examining an array of approaches to determining a spending rule for retirees, the
authors propose the annually recalculated virtual annuity. Each year, one should spend (at …

Presents information on a study which examined the performance of hedge funds and
managed futures funds during the 1982 to 1996. Performance measures; Hedge funds and …

Purpose Throughout the 21st century, US households have experienced unprecedented
levels of leverage. This dynamic has been exacerbated by income shortfalls during the …

Assets should serve a purpose: to fund a lifetime of financial goals. If assets serve the
purpose of funding lifetime goals, it naturally follows that optimal lifetime asset allocation …

Financial illiteracy is widespread and leads to bad financial decisions. Individuals cannot
answer basic questions about inflation, compounding, and diversification. This article argues …

There is a looming retirement crisis globally with the three pillars of retirement threatened
because of insufficient funding, improper investment decisions, and transferring risk to …

Both retirees and their employers can benefit from combining conventional DC-type savings
plans, designed to be spent down in the early part (say, the first 20 years) of retirement, with …

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In our experience, many investment professionals don't articulate risk well to clients. This
research uniquely and graphically reveals the nature of strategic asset allocation investment …

We propose the use of the minimum variance portfolio as weighting method in a strategy
benchmark for pension funds performance in Mexico. By performing three discrete event …