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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
January 4, 2012, Featured Articles, International, Annuities
Canada’s Annuity Issuers Protect their Turf
The Bank of Montreal will halt new sales of its BMO Lifetime Cash Flow, a retirement income product that Canadian insurers said worked a bit too much like a variable annuity. The Canadian finance minister agreed.
In a win for Canadian insurers, the finance minister of Canada last month ordered the Bank of Montreal to stop selling issued an annuity-like retirement income product called BMO Lifetime Cash Flow, the subject of an article in Retirement Income Journal one year ago.
“The decision is a win for the country’s life insurers and a blow to Bank of Montreal,” the Toronto Globe and Mail reported on December 16. BMO Lifetime Cash Flow, not an insurance product, resembled and competed with variable annuities with guaranteed lifetime withdrawal benefits, such as the Sun Life Elite Plus contract.
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