Stock Split

The Wharton School's business professors are divided on whether the time is right to invest in equities. Pension Research Council director Olivia Mitchell has invested her pension in TIPS, while colleague Jeremy (“Stocks for the Long Run”) Siegel remains bullish. Photo: Jeremy Siegel.

How Debt Affects Retirement

“Remaking Retirement? Debt in an Aging Economy," was the theme of the 65th annual symposium of the Wharton School's Pension Research Council, held last week in Philadelphia. (Photo: Kitchen and retirement makeovers sometimes occur in tandem.)
Anecdotal Evidence

It’s No Joke: The Fed’s Comic Book is Wrong

The educational comic book from the New York Fed means well but perpetuates the myth that money was created in the private sector to facilitate barter and enabled commerce to flourish. History shows otherwise.
Anecdotal Evidence

Annuities that Pay Cash Back Rewards

Gainbridge, a insur-tech startup, aims to sell fixed deferred and period certain income annuities online. Its sister company, Relay, uses annuities to fund cash back rewards cards. Both firms are part of Group1001 (formerly Delaware Life Holdings).
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Anecdotal Evidence

Too Big to Handle

"Every time the CEO of is forced to resign, the evidence mounts that these organizations have become impossible to manage in a responsible way that generates sustainable value for shareholders and keeps taxpayers out of harm’s way," writes Johnson, an MIT economist.
Anecdotal Evidence

The Fed’s Exit Strategy

William C. Dudley, president of the New York Fed, spoke at the Oct. 15 meeting of the National Association for Business Economics in Manhattan. In this excerpt from his prepared remarks, he addressed the Fed’s exit strategy from its current low-interest policy.
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Anecdotal Evidence

Financial Engines cites growth of its Income+ program

Participants who use the Financial Engines managed account program, Professional Management, which costs each participant up to 60 basis points a year depending on account size, do not need to pay extra to use Income+.
Anecdotal Evidence

Economy grew faster but business investment fell in Q3 2012: Prudential

“Business investment spending is likely to remain weak in Q4 despite healthy corporate cash levels due to concerns about the ‘fiscal cliff’ and how it will be resolved once the U.S. Presidential election is over," according to Prudential's report.
Anecdotal Evidence

New York Life expands retail annuity team

Matt Grove, head of annuities at New York Life, recently alerted his LinkedIn network to two high-level openings in annuities at the big mutual, one in variable annuities and another in strategic planning. The firm's retail annuity team is expanding, he wrote.
Anecdotal Evidence

Quote of the Week

"Economic management, especially in the United States, would be greatly facilitated if resort could occasionally be had to witchcraft. Monetary policy, by far the most promising possibility, involves none. This every good citizen must regret"--John Kenneth Galbraith, The Affluent Society (Houghton-Mifflin, 1958), p. 199.