A Target Retirement Income Plan is a nonqualified, supplemental, after-tax executive retirement benefit program that changes the focus from return on investment to certainty of predictable income in retirement.
MarketTrend Advisors - Coping With Bear Markets 023009Garrett Beauvais
This presentation provides a historical review of the returns of prior bull markets and bear markets and recommends an active investment strategy to capture gains and avoid losing money during secular bear markets.
The document discusses the threat of volatility to retirement investments and portfolios. It provides an example where two investments earn the same average return of 7.5% over 30 years but one (Investment A) has higher volatility with returns fluctuating more. Though both average 7.5%, Investment A's portfolio runs out of money in year 19 due to the volatility, while Investment B's portfolio not only lasts 30 years but has money remaining. The key point is that volatility, even with the same average return, can deplete retirement savings through its effects of increased fluctuations and withdrawals compounding during down periods.
This document summarizes the current market environment of historically low interest rates driving high dividend payouts by companies that are likely unsustainable. Specifically, it notes that (1) interest rates being near historic lows have forced investors to seek yield elsewhere, (2) dividend-paying stocks now look very expensive based on metrics like price-to-earnings ratios, and (3) current levels of corporate payouts through dividends and stock buybacks exceeding earnings are unlikely to continue amid late-stage economic cycles with limited earnings growth.
The document discusses the current state of the US consumer market, noting it can be characterized as a "Tale of Two Cities" with high and low income earners facing different conditions. While low income consumers face headwinds like high costs of living, student debt, and unemployment, high income earners benefit from tailwinds such as rising home and investment portfolio values. Although high income consumers are a small percentage, they contribute disproportionately to consumer spending. As long as high income consumer confidence remains strong, overall consumer spending and GDP growth should remain positive, supporting a bullish outlook on equities.
The document discusses market corrections and refutes the belief that a correction is imminent simply because one has not occurred in over two years. It notes that corrections are irregular and less common during bull markets. While the average time between corrections has been about every 20 months historically, they have not occurred at regular intervals. The author believes we are in the early stages of a new secular bull market and do not see a high chance of a recession in the coming years, so it may be some time until the next correction. They advise investors not to try and time the market by waiting for a predicted correction.
This document outlines key considerations for planning retirement, including defining your retirement goals, assessing sources of retirement income, managing investments, and addressing potential challenges. It discusses common retirement phases and lifestyle types, importance of tracking spending, impact of inflation, strategies for healthcare and debt management, and working with an advisor to help navigate financial roadblocks and make optimal planning decisions. The overall message is for individuals to carefully plan early to help ensure a secure and fulfilling retirement.
- The document provides an investment outlook and commentary for the 1st quarter of 2010. It discusses various factors impacting the capital markets, including the state of the economy, the equity and bond markets, and risks related to the US dollar and developing economies.
- The author recommends being underweight in equity-like investments, overweight in non-equity correlated investments, underweight real assets favoring deflation, and overweight safety, liquidity, and income assets. Key risks discussed include high government debt levels, potential issues in developing economies, and uncertainty around the US dollar.
A Target Retirement Income Plan is a nonqualified, supplemental, after-tax executive retirement benefit program that changes the focus from return on investment to certainty of predictable income in retirement.
MarketTrend Advisors - Coping With Bear Markets 023009Garrett Beauvais
This presentation provides a historical review of the returns of prior bull markets and bear markets and recommends an active investment strategy to capture gains and avoid losing money during secular bear markets.
The document discusses the threat of volatility to retirement investments and portfolios. It provides an example where two investments earn the same average return of 7.5% over 30 years but one (Investment A) has higher volatility with returns fluctuating more. Though both average 7.5%, Investment A's portfolio runs out of money in year 19 due to the volatility, while Investment B's portfolio not only lasts 30 years but has money remaining. The key point is that volatility, even with the same average return, can deplete retirement savings through its effects of increased fluctuations and withdrawals compounding during down periods.
This document summarizes the current market environment of historically low interest rates driving high dividend payouts by companies that are likely unsustainable. Specifically, it notes that (1) interest rates being near historic lows have forced investors to seek yield elsewhere, (2) dividend-paying stocks now look very expensive based on metrics like price-to-earnings ratios, and (3) current levels of corporate payouts through dividends and stock buybacks exceeding earnings are unlikely to continue amid late-stage economic cycles with limited earnings growth.
The document discusses the current state of the US consumer market, noting it can be characterized as a "Tale of Two Cities" with high and low income earners facing different conditions. While low income consumers face headwinds like high costs of living, student debt, and unemployment, high income earners benefit from tailwinds such as rising home and investment portfolio values. Although high income consumers are a small percentage, they contribute disproportionately to consumer spending. As long as high income consumer confidence remains strong, overall consumer spending and GDP growth should remain positive, supporting a bullish outlook on equities.
The document discusses market corrections and refutes the belief that a correction is imminent simply because one has not occurred in over two years. It notes that corrections are irregular and less common during bull markets. While the average time between corrections has been about every 20 months historically, they have not occurred at regular intervals. The author believes we are in the early stages of a new secular bull market and do not see a high chance of a recession in the coming years, so it may be some time until the next correction. They advise investors not to try and time the market by waiting for a predicted correction.
This document outlines key considerations for planning retirement, including defining your retirement goals, assessing sources of retirement income, managing investments, and addressing potential challenges. It discusses common retirement phases and lifestyle types, importance of tracking spending, impact of inflation, strategies for healthcare and debt management, and working with an advisor to help navigate financial roadblocks and make optimal planning decisions. The overall message is for individuals to carefully plan early to help ensure a secure and fulfilling retirement.
- The document provides an investment outlook and commentary for the 1st quarter of 2010. It discusses various factors impacting the capital markets, including the state of the economy, the equity and bond markets, and risks related to the US dollar and developing economies.
- The author recommends being underweight in equity-like investments, overweight in non-equity correlated investments, underweight real assets favoring deflation, and overweight safety, liquidity, and income assets. Key risks discussed include high government debt levels, potential issues in developing economies, and uncertainty around the US dollar.
The document provides an overview of Elmwood Wealth Management's quarterly insights for April 2013. It discusses several challenges facing investors including slowing economic growth rates compared to the previous year. It also notes that corporate profit margins remain high but may be pressured if companies increase spending. The document summarizes Elmwood's investment strategies in various themes like the U.S. energy resurgence and total return equity investing. It concludes by reaffirming Elmwood's commitment to serving clients' needs.
‘Over the Horizon’ share market commentary – July 2014David Offer
- The Australian stock market was up 4.5% in July but has since fallen 1.1% as the corporate reporting season begins.
- Telstra reported a 14.6% rise in profits and announced an off-market share buyback. BHP Billiton is also expected to announce a spinoff and buyback when it reports.
- Low bond yields have left investors seeking higher yields in stocks, leading to gains in high-dividend sectors and hybrid securities. However, future returns on hybrids will be more modest once factoring in redemption values.
Rebalancing the UK economy - Peter Hahn, Cass Business SchoolNatalieW
An overview of some of the key trends currently affecting the UK economy, exploring where these might go in future. It is from a NCVO Third Sector Foresight seminar.
This document discusses strategies for limiting stock market risk, such as the Rule of 100. The Rule of 100 states that the percentage invested in stocks should not exceed 100 minus the investor's age. So a 40 year old would invest 60% in stocks. It also discusses balancing portfolios between stocks and bonds. While bonds provide stability, both stocks and bonds carry risk as their prices can fluctuate. Alternative products like market-linked CDs and indexed annuities are presented as ways to participate in stock market gains without risk of losses.
The document discusses the volatility of the stock market and challenges the notion that one should simply hold investments and wait for markets to recover from downturns. It notes that bear markets can last for years, leaving investments stagnant, and advises being flexible and making changes to one's portfolio as conditions change. The document also cautions against relying on averages, as planning withdrawals from investments based on assumed average returns does not account for the impact of losses on the portfolio in down years.
This document discusses the importance of investing to maintain purchasing power in the face of inflation. It argues that many investors' goal should be to grow their capital at a rate that matches or exceeds inflation. Stocks that pay dividends are presented as a solution, as they can provide income that increases over time to outpace inflation. Several large, stable companies are used as examples that have consistently raised their dividends by over 10% annually for the past decade, demonstrating how purchasing power can be achieved through dividend-paying stocks.
The quarterly portfolio report summarizes benchmark index returns for the quarter ending December 31, 2014. Large U.S. stocks performed best, with the S&P 500 returning 13.69% annually. International stocks declined, with the EAFE index falling 7.35%. The commentary discusses increased market volatility due to global growth fears and geopolitical risks. It recommends that investors manage risk through diversification across and within asset classes. Key points include not making presumptions, recognizing that someone is always buying, avoiding market timing, and remembering that discipline is rewarded.
The document provides an economic analysis and outlook from Principal Global Investors. It discusses factors that have contributed to slowing global economic growth, including uncertainty around government policies. While growth has decelerated, the odds of a double-dip recession are seen as low. Emerging markets continue to drive global growth, with China expected to remain above 8% growth. In the US, momentum has slowed but the economy retains positives such as rising incomes and profits supporting investment.
This document discusses liquidity ratio, which is a financial indicator that measures how prepared someone is to meet short-term obligations or emergency needs. Specifically:
1) Liquidity ratio is calculated as liquid assets divided by immediate monthly expenses. It indicates how many months of expenses can be supported without income.
2) Liquid assets include cash savings and some fixed deposits, but not investments like equities which can fluctuate.
3) A liquidity ratio of 2 means two months of expenses are covered by liquid assets. The appropriate ratio depends on individual factors like income stability and expenses. Monitoring liquidity ratio helps with financial preparedness.
The portfolio manager provides a summary of key events from 2013, noting that fears over issues like the fiscal cliff, Fed tapering, and government shutdowns did not materialize as severely as predicted by media. Overall markets performed well despite issues. Looking ahead, the portfolio will maintain bullish exposure according to its tactical model and focus on high-quality dividend stocks in both Canada and the US. While Canada underperformed the past three years, signs suggest it may start outperforming the US in 2014.
This document summarizes 10 common and costly pension mistakes that many British people make. These mistakes include not saving enough for retirement, delaying saving which reduces the power of compound returns, failing to regularly check pension pots and investments, ignoring fees which can significantly reduce the overall value of a pension, relying too heavily on inheritances to fund retirement, not taking advantage of employer pension contributions, opting out of company pension schemes which forfeits employer matching contributions, assuming the state pension will be sufficient, not using pensions to save tax through tax relief on contributions, and accessing pensions early which incurs penalties. The document stresses that pension mistakes can be very expensive due to the long time horizon over retirement savings have to grow. It provides examples to
A critique of treasury whitepapeer on corporate bond spot curve for pension d...Pim Piepers
1) The document critiques a Treasury White Paper proposing to use a corporate bond spot yield curve to discount pension liabilities, arguing this is not accurate.
2) While a spot yield curve in theory matches rates to payment dates, corporate zero-coupon bonds do not exist in meaningful quantities and have credit risk, requiring instead use of risk-free Treasury rates.
3) Averaging rates over 90 days, as proposed, still does not provide accurate current information given interest rate volatility, and smoothing rates compromises accuracy of liability measurement and contribution requirements.
This document discusses investing in mutual funds and provides an overview of Primerica, a financial services marketing organization. It notes that mutual fund investing entails some risk and shares may be worth more or less than the original investment. It then provides details on Primerica, including that it is the largest independent financial services marketing organization in North America, has over 5 million insured lives and 2 million client investment accounts, and clients have over $61 billion in asset values. The document aims to demonstrate why now is always a good time to invest using market cycles, proven investment fundamentals like dollar cost averaging and discipline, and investment solutions.
LBS Economic Research and Strategy - August 24, 2017 Mark MacIsaac
Investor complacency in the stock market, as measured by a model developed by strategist Jim Paulsen, currently stands at historically high levels. The model examines the consistency of positive monthly stock returns over the past five years compared to market volatility over the same period. Complacency has exceeded the 0.7 threshold, which is above the typical 0.25 to 0.6 range seen since 1950. Historically, negative reversals have often followed periods when complacency rose above 0.6, potentially signaling a risk of a market pullback. Investors should monitor changes in this complacency indicator for warning signs of a potential repricing of risk assets.
Managed futures have underperformed stocks in recent years but may be a good investment now. While managed futures carry more risk than bonds, they have lower correlation to stocks and can provide protection when stocks decline. Historically, periods of underperformance for managed futures have been followed by sharp rises, often during stock market declines. Given the volatility of stocks compared to the relatively stable long-term returns of managed futures, managed futures may be a better investment than stocks.
Este documento trata sobre la importancia de la ergonomía y los factores de riesgo en el ámbito laboral. Explica que la ergonomía estudia la relación entre el ser humano y su entorno de trabajo. Identifica factores de riesgo como posturas inadecuadas y carga mental y física excesiva. También presenta soluciones ergonómicas como el diseño adecuado de puestos de trabajo y sugiere reglas para prevenir riesgos laborales.
Este documento presenta el análisis de riesgos y vulnerabilidad realizado en el Edificio de Enfermería de la Universidad Nacional de Colombia. Incluye la identificación de amenazas, análisis de vulnerabilidad frente a diferentes eventos, y recomendaciones para mejorar la seguridad del edificio. El resumen analiza el marco legal aplicable para la prevención de riesgos y atención de emergencias, e inventario de recursos con los que cuenta la universidad para responder a incidentes. El objetivo es disponer de un diagnóstico actualizado
Este documento trata sobre los factores y riesgos psicosociales en el trabajo. Define los factores psicosociales como las condiciones organizacionales y laborales que pueden afectar positiva o negativamente a la salud y bienestar de los trabajadores. Explica los principales riesgos psicosociales como el estrés, la violencia, el acoso laboral y sexual, la inseguridad contractual y el burnout. Finalmente, analiza métodos para evaluar los riesgos psicosociales y propone buenas prácticas para prevenirlos y mejorar las con
The document provides an overview of Elmwood Wealth Management's quarterly insights for April 2013. It discusses several challenges facing investors including slowing economic growth rates compared to the previous year. It also notes that corporate profit margins remain high but may be pressured if companies increase spending. The document summarizes Elmwood's investment strategies in various themes like the U.S. energy resurgence and total return equity investing. It concludes by reaffirming Elmwood's commitment to serving clients' needs.
‘Over the Horizon’ share market commentary – July 2014David Offer
- The Australian stock market was up 4.5% in July but has since fallen 1.1% as the corporate reporting season begins.
- Telstra reported a 14.6% rise in profits and announced an off-market share buyback. BHP Billiton is also expected to announce a spinoff and buyback when it reports.
- Low bond yields have left investors seeking higher yields in stocks, leading to gains in high-dividend sectors and hybrid securities. However, future returns on hybrids will be more modest once factoring in redemption values.
Rebalancing the UK economy - Peter Hahn, Cass Business SchoolNatalieW
An overview of some of the key trends currently affecting the UK economy, exploring where these might go in future. It is from a NCVO Third Sector Foresight seminar.
This document discusses strategies for limiting stock market risk, such as the Rule of 100. The Rule of 100 states that the percentage invested in stocks should not exceed 100 minus the investor's age. So a 40 year old would invest 60% in stocks. It also discusses balancing portfolios between stocks and bonds. While bonds provide stability, both stocks and bonds carry risk as their prices can fluctuate. Alternative products like market-linked CDs and indexed annuities are presented as ways to participate in stock market gains without risk of losses.
The document discusses the volatility of the stock market and challenges the notion that one should simply hold investments and wait for markets to recover from downturns. It notes that bear markets can last for years, leaving investments stagnant, and advises being flexible and making changes to one's portfolio as conditions change. The document also cautions against relying on averages, as planning withdrawals from investments based on assumed average returns does not account for the impact of losses on the portfolio in down years.
This document discusses the importance of investing to maintain purchasing power in the face of inflation. It argues that many investors' goal should be to grow their capital at a rate that matches or exceeds inflation. Stocks that pay dividends are presented as a solution, as they can provide income that increases over time to outpace inflation. Several large, stable companies are used as examples that have consistently raised their dividends by over 10% annually for the past decade, demonstrating how purchasing power can be achieved through dividend-paying stocks.
The quarterly portfolio report summarizes benchmark index returns for the quarter ending December 31, 2014. Large U.S. stocks performed best, with the S&P 500 returning 13.69% annually. International stocks declined, with the EAFE index falling 7.35%. The commentary discusses increased market volatility due to global growth fears and geopolitical risks. It recommends that investors manage risk through diversification across and within asset classes. Key points include not making presumptions, recognizing that someone is always buying, avoiding market timing, and remembering that discipline is rewarded.
The document provides an economic analysis and outlook from Principal Global Investors. It discusses factors that have contributed to slowing global economic growth, including uncertainty around government policies. While growth has decelerated, the odds of a double-dip recession are seen as low. Emerging markets continue to drive global growth, with China expected to remain above 8% growth. In the US, momentum has slowed but the economy retains positives such as rising incomes and profits supporting investment.
This document discusses liquidity ratio, which is a financial indicator that measures how prepared someone is to meet short-term obligations or emergency needs. Specifically:
1) Liquidity ratio is calculated as liquid assets divided by immediate monthly expenses. It indicates how many months of expenses can be supported without income.
2) Liquid assets include cash savings and some fixed deposits, but not investments like equities which can fluctuate.
3) A liquidity ratio of 2 means two months of expenses are covered by liquid assets. The appropriate ratio depends on individual factors like income stability and expenses. Monitoring liquidity ratio helps with financial preparedness.
The portfolio manager provides a summary of key events from 2013, noting that fears over issues like the fiscal cliff, Fed tapering, and government shutdowns did not materialize as severely as predicted by media. Overall markets performed well despite issues. Looking ahead, the portfolio will maintain bullish exposure according to its tactical model and focus on high-quality dividend stocks in both Canada and the US. While Canada underperformed the past three years, signs suggest it may start outperforming the US in 2014.
This document summarizes 10 common and costly pension mistakes that many British people make. These mistakes include not saving enough for retirement, delaying saving which reduces the power of compound returns, failing to regularly check pension pots and investments, ignoring fees which can significantly reduce the overall value of a pension, relying too heavily on inheritances to fund retirement, not taking advantage of employer pension contributions, opting out of company pension schemes which forfeits employer matching contributions, assuming the state pension will be sufficient, not using pensions to save tax through tax relief on contributions, and accessing pensions early which incurs penalties. The document stresses that pension mistakes can be very expensive due to the long time horizon over retirement savings have to grow. It provides examples to
A critique of treasury whitepapeer on corporate bond spot curve for pension d...Pim Piepers
1) The document critiques a Treasury White Paper proposing to use a corporate bond spot yield curve to discount pension liabilities, arguing this is not accurate.
2) While a spot yield curve in theory matches rates to payment dates, corporate zero-coupon bonds do not exist in meaningful quantities and have credit risk, requiring instead use of risk-free Treasury rates.
3) Averaging rates over 90 days, as proposed, still does not provide accurate current information given interest rate volatility, and smoothing rates compromises accuracy of liability measurement and contribution requirements.
This document discusses investing in mutual funds and provides an overview of Primerica, a financial services marketing organization. It notes that mutual fund investing entails some risk and shares may be worth more or less than the original investment. It then provides details on Primerica, including that it is the largest independent financial services marketing organization in North America, has over 5 million insured lives and 2 million client investment accounts, and clients have over $61 billion in asset values. The document aims to demonstrate why now is always a good time to invest using market cycles, proven investment fundamentals like dollar cost averaging and discipline, and investment solutions.
LBS Economic Research and Strategy - August 24, 2017 Mark MacIsaac
Investor complacency in the stock market, as measured by a model developed by strategist Jim Paulsen, currently stands at historically high levels. The model examines the consistency of positive monthly stock returns over the past five years compared to market volatility over the same period. Complacency has exceeded the 0.7 threshold, which is above the typical 0.25 to 0.6 range seen since 1950. Historically, negative reversals have often followed periods when complacency rose above 0.6, potentially signaling a risk of a market pullback. Investors should monitor changes in this complacency indicator for warning signs of a potential repricing of risk assets.
Managed futures have underperformed stocks in recent years but may be a good investment now. While managed futures carry more risk than bonds, they have lower correlation to stocks and can provide protection when stocks decline. Historically, periods of underperformance for managed futures have been followed by sharp rises, often during stock market declines. Given the volatility of stocks compared to the relatively stable long-term returns of managed futures, managed futures may be a better investment than stocks.
Este documento trata sobre la importancia de la ergonomía y los factores de riesgo en el ámbito laboral. Explica que la ergonomía estudia la relación entre el ser humano y su entorno de trabajo. Identifica factores de riesgo como posturas inadecuadas y carga mental y física excesiva. También presenta soluciones ergonómicas como el diseño adecuado de puestos de trabajo y sugiere reglas para prevenir riesgos laborales.
Este documento presenta el análisis de riesgos y vulnerabilidad realizado en el Edificio de Enfermería de la Universidad Nacional de Colombia. Incluye la identificación de amenazas, análisis de vulnerabilidad frente a diferentes eventos, y recomendaciones para mejorar la seguridad del edificio. El resumen analiza el marco legal aplicable para la prevención de riesgos y atención de emergencias, e inventario de recursos con los que cuenta la universidad para responder a incidentes. El objetivo es disponer de un diagnóstico actualizado
Este documento trata sobre los factores y riesgos psicosociales en el trabajo. Define los factores psicosociales como las condiciones organizacionales y laborales que pueden afectar positiva o negativamente a la salud y bienestar de los trabajadores. Explica los principales riesgos psicosociales como el estrés, la violencia, el acoso laboral y sexual, la inseguridad contractual y el burnout. Finalmente, analiza métodos para evaluar los riesgos psicosociales y propone buenas prácticas para prevenirlos y mejorar las con
Portfolio managers Dennis Wassung, CFA, and Craig Goryl, CFA, discuss Cabot Wealth Management's investment themes, including biotechnology and genomics, cloud computing and frontier markets. Presented on September 26, 2014.
Are you thinking about retirement? Understand your retirement income and estate planning options with this Roadmap to Retirement presentation by Greg Stevens, CFP, Senior Wealth Advisor, and Tom Vautin, Senior Financial Planner, of Cabot Wealth Management.
This presentation discusses the differences between infinitives and gerunds in English. Infinitives always use "to" and are the base verb form, while gerunds end in "-ing". It provides examples of how infinitives and gerunds can be used as subjects and objects of sentences, after certain verbs and prepositions, and in certain expressions. The document concludes with an activity where students choose whether sentences should use infinitives or gerunds.
President and chief investment officer, Robert Lutts, of Cabot Wealth Management presents a luncheon keynote where he discusses a bull market, four signs of trouble ahead in the economy, and Cabot's top three investment themes.
The document discusses the wide-ranging positive impacts that music has on the author's life. Music is described as something that wakes the author up, makes them dance, smile, laugh and elevates their mood. Music provides memories, acts as a friend and source of comfort, and is integral to the author's studies, words and ability to be happy. The document also briefly mentions several artists and songs that the author considers the best.
Este documento establece los procesos y medidas para prevenir riesgos a la salud de trabajadores expuestos a agentes químicos contaminantes. Aplica a todos los centros de trabajo donde existan dichos agentes. Obliga a empleadores a realizar estudios de sustancias químicas, reconocimiento y evaluación de agentes, y adoptar medidas de control para no exceder límites de exposición. También establece obligaciones para trabajadores como reportar condiciones inseguras y someterse a exámenes médicos.
Este documento establece las condiciones de seguridad e higiene en centros de trabajo donde se genere ruido, incluyendo límites máximos de exposición al ruido, la implementación de un programa de conservación auditiva y obligaciones de patrones y trabajadores. Se especifican diferentes tipos de protectores auditivos como orejeras, cascos y tapones y la importancia de su uso, mantenimiento y limpieza.
Шума је једно од животних станишта.Врсте шума.Живи свет шума. Које биљке и животиње живе у ком делу шумеНа крају тест са повратном иформациом.Са доста слика и добрим ефектима
La ergonomía estudia cómo el diseño del trabajo afecta la salud y el bienestar de los trabajadores. Busca determinar los límites de lo que el cuerpo humano puede soportar sin sufrir daños. La ergonomía tiene como objetivos reducir lesiones, aumentar la productividad y mejorar la calidad del trabajo mediante la aplicación de normas ergonómicas. Factores de riesgo como posturas, fuerzas, repeticiones y condiciones ambientales pueden causar lesiones si se mantienen por periodos prolongados.
Establecer las condiciones de seguridad y los sistemas de protección y dispositivos para prevenir y
proteger a los trabajadores contra los riesgos de trabajo que genere la operación y mantenimiento de la
maquinaria y equipo.
Presentacion en power point. ergonomia. Riesgos Laboralesmaurielly
Este documento describe varios riesgos laborales potenciales en el lugar de trabajo del autor, como lesiones físicas o químicas de leves a graves, dolor de espalda y rodillas debido al diseño ergonómico inadecuado del escritorio y la silla, y enfermedades respiratorias por la expulsión de polvo del aire acondicionado. También propone soluciones como ajustar la altura y superficie del escritorio, agregar apoyo para las piernas y hacer que la silla sea ajustable y ríg
Este documento trata sobre la ergonomía. Explica que surgió en el siglo XIX para optimizar el rendimiento y bienestar de los trabajadores. Describe algunos de los problemas de salud que pueden surgir debido a malas condiciones laborales como lesiones, fatiga y problemas musculoesqueléticos. También menciona la importancia de la ergonomía para prevenir riesgos laborales y reducir los costos asociados a bajas médicas.
El documento describe la ergonomía como la disciplina que se encarga del diseño de lugares de trabajo y herramientas de acuerdo a las características fisiológicas, anatómicas y psicológicas de los trabajadores. Explica que la ergonomía estudia la interacción entre humanos, máquinas y el ambiente, y que se divide en ergonomía cognitiva, física y organizacional dependiendo de su enfoque. Finalmente, destaca que aplicar principios ergonómicos mejora la seguridad y salud de los
Es una Ciencia multidisciplinaria que actúa sinérgicamente como un cuerpo de conocimientos interrelacionadas en su aplicación para adaptar el entorno de vida y trabajo al hombre para su mayor y mejor bienestar y calidad de vida. Elabora normas móviles que exigen una constante investigación y acciones simultáneas
The document discusses key considerations for retirement planning including assessing lifestyle needs and goals, understanding investment risks in retirement, ensuring adequate income and managing assets appropriately. It emphasizes creating a financial plan, diversifying investments, rebalancing portfolios over time and avoiding emotional reactions to market volatility to achieve retirement objectives.
This document discusses volatility and provides strategies for managing risk. It begins by stating that moderate volatility is healthy for financial markets as it separates strong from weak investments. The document then discusses three components needed for a well-functioning financial system: cognitive diversity among investors, full disclosure of information, and rewards/penalties for correct/incorrect views. It suggests investors should focus on owning businesses rather than reacting to market fluctuations, and construct diversified portfolios that are not overly correlated with any single index. Strategies discussed for managing risk include owning a variety of assets, investing globally for currency exposure benefits, and focusing on long-term goals rather than short-term volatility.
This document discusses retirement planning and decumulation strategies. It provides historical context on retirement in Greek culture and the transition to individual saving. It also discusses the challenges facing retirees in the US, including managing withdrawals, market risks, and longevity risks. The document advocates for combining safety and growth in retirement portfolios, and outlines strategies like target date funds, income replacement, and combining various account types to help solve decumulation challenges.
The document discusses market volatility and strategies for dealing with it. It defines volatility, looks at historical volatility levels, and discusses how volatility affects investors. It then outlines the wealth management group's strategies, which include repositioning portfolios to focus on quality income assets, employing strategies to dampen volatility, and ensuring portfolios align with clients' goals and risk tolerance.
Investing in a Rising Rate Environment - Dec. 2011RobertWBaird
- Rising interest rates can negatively impact bond prices in the short-term but a focus on total return, which includes interest income, provides a more accurate picture of bond performance over time.
- An analysis of periods from 1994-2006 when the Federal Reserve raised rates found that while bond prices fell in the majority of months, interest income was positive every month and total returns were positive in 64% of months.
- Diversifying across different types of bonds can help mitigate the effects of rising rates as different bond segments perform variably depending on economic conditions. Professional bond managers employ strategies to offset negative impacts and maximize total returns.
September 13 Quarterly: Gotta' know when to hold 'em, when to fold 'emMark_Krygier
- Less Americans are investing in stocks since the 2000 tech bubble and 2008 recession, with the percentage of investors dropping from 60% to 52%.
- Investors must understand their own investment needs and timelines in order to make wise decisions about buying, holding, or selling investments during periods of price fluctuation.
- Short-term investments should be used for near-term needs while long-term investments suited for growth, like stocks and real estate, require ignoring short-term price changes.
Tag Young Professionals - Merrill Lynch PresentationMelanie Brandt
The document provides an overview of strategies for achieving a healthy financial life, including budgeting, investing, retirement savings, and financing a home. It discusses developing a budget and paying down high-interest debt. It also covers topics like buying vs renting a home, creating an investment portfolio based on goals and risk tolerance, saving for retirement through vehicles like 401ks and IRAs, and tips for young investors like starting to save early.
The document discusses different types of business entities and factors to consider when deciding whether to incorporate a business. It outlines sole proprietorships, general partnerships, limited liability companies, S-corporations, and C-corporations. For each entity, it touches on key aspects like tax treatment, liability protection, and regulatory requirements. The overall message is that the decision to incorporate depends on the business type, ownership structure, tax issues, and goals, as there are pros and cons to each entity to consider.
The document discusses principles of behavioral finance and long-term investing. It notes that investors tend to be overconfident and influenced by short-term gains. Successful long-term investing requires discipline, focusing on asset allocation and diversification, and ignoring short-term noise and market hype. The key is developing a personalized investment policy and sticking to a plan through different market conditions.
Sprung Investment Management is an independent investment management firm serving high net worth individuals. It has over 120 years of combined investment experience among its principals. In the third quarter of 2013, markets were volatile due to political uncertainty in the US and slowing growth in emerging markets. Sprung believes this environment creates opportunities for value investors.
The document provides strategies for financial planning including knowing your current financial situation, being prepared for emergencies, ensuring adequate insurance, creating an estate plan, reducing debt, long-term investing, asset allocation, dollar cost averaging, maximizing retirement contributions, choosing financial advisors, clarifying goals, and regularly reevaluating progress. It emphasizes the importance of a financial plan and working with professionals to protect assets and provide for future needs.
The document provides strategies for financial planning including knowing your current financial situation, being prepared for emergencies, ensuring adequate insurance coverage, creating an estate plan, reducing debt, long-term investing, asset allocation, dollar cost averaging, maximizing retirement contributions, choosing financial advisors, clarifying goals, and regularly reevaluating progress. Key advice includes developing a financial plan, remaining disciplined, and working with professionals to protect assets and achieve financial goals over time.
This document discusses important estate planning considerations beyond legal documents, including maintaining accurate property titles, beneficiary designations, and expressing wishes for final arrangements. It notes that failing to "fund" an estate plan by keeping these items up to date is a common reason estate plans fail. The document also emphasizes planning for the division of personal property to avoid conflicts among heirs. Expressing wishes for items like jewelry, photographs and other possessions can help smooth the distribution process.
The document discusses how global liquidity is slowing down as central banks begin tapering monetary stimulus programs. As liquidity shrinks, it could impact asset prices and riskier sectors. Bond spreads have already started diverging from stock prices, indicating slowing growth and liquidity. The author recommends increasing cash levels in portfolios to be redeployed opportunistically as volatility rises due to less central bank support of markets.
1. The portfolio manager discusses the market performance in Q2 2014, with the Canadian equity markets outperforming other global regions.
2. He explains that central bank monetary policies, particularly from the US Federal Reserve and European Central Bank, have been a key driver for the stock market rally over the past few years by keeping interest rates low.
3. The portfolio manager reiterates his advice to investors to stick to their customized plans and not be deterred by short-term market fluctuations, as the plans are designed to navigate periods of volatility.
The document discusses Washington's unfinished fiscal and monetary policy business beyond 2015. On fiscal policy, the federal budget deficit has declined but challenges remain, including the need for tax reform to make the US more competitive. The US has the highest corporate tax rate which puts companies at a disadvantage. While plans exist to lower the rate, offsets must be found. On monetary policy, the Federal Reserve must determine how to normalize interest rates after years of quantitative easing. Changes to both fiscal and monetary policies will likely evolve slowly in the coming years.
Michael Durante Western Reserve Blackwall Partners 2011 outlook primer- finalMichael Durante
- Blackwall Partners believes the financial crisis has ended and a new "golden age" for financial stocks is beginning, similar to the period following the 1990s savings and loan crisis.
- Excessive capital reserves built up during the crisis due to mark-to-market accounting will be redeployed, leading to aggressive capital management and benefiting investors.
- Financial stocks currently trade at very low valuations and earnings growth is expected to be much higher than other sectors over the next few years, yet they remain underowned.
The S&P 500 finished 2018 in negative territory for the first time since 2008, down -4.6% for the year. Volatility increased significantly across global markets as economic growth moderated and trade tensions rose. The CBOE Volatility Index increased 130% in 2018 compared to 78% in 2008, indicating a more turbulent decline. Investor unease over trade and monetary policy contributed to the rise in volatility, exemplified by an 8% market fall following the Federal Reserve's signal of slightly more aggressive rate hikes than expected in 2019.
Reinventing Your Retirement New Realities For New Challenges For Clear ViewSteve Stanganelli
This presentation is part of the Transition Assistance Plan workshop series offered through Salem Works.
While many things in life are uncertain, we can control how we make better decisions. This presentation highlights the fundamental approach needed for short-term fixes and getting back on track long-term.
Similar to Safe Income in a Dangerous Bond Market (20)
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Using Online job postings and survey data to understand labour market trends
Safe Income in a Dangerous Bond Market
1. WELCOME TO CABOT’S
25TH ANNUAL INVESTMENT & WEALTH MANAGEMENT CONFERENCE
Your interests and goals always come first.
2. Safe Income in a
Dangerous Bond Market
Understanding the Risks of Fixed-Income Investing
WILLIAM LARKIN, JR.
PORTFOLIO MANAGER
CABOT WEALTH MANAGEMENT
3. Does This Make Any Sense?
10-year bonds a/o 9/2/2014
Germany = 0.9%
France = 1.3%
Ireland = 1.8%
Spain = 2.3%
United Kingdom = 2.4%
Bulgaria = 3.1%
Poland = 3.1%
Portugal = 3.2%
4. Why Has
Demand for
Zero Interest
Rates
Skyrocketed?
Favorable Backdrop
In Behavioral Finance there’s a
term called Risk Intolerance,
which is defined as market
conditions when investors refuse
to take risk to earn a return. An
abrupt shift in risk tolerance is
similar to containers on a ship
that all shift to one side at the
same time. Things obviously
become unstable.
5. Investor Balance
Fear – The Return of Your Money vs. Return on Your Money
Greed – Many High Return Investments are Facing Stretched Valuations
Is The Market is Out of Balance?
6. Investors Borrowers
Have Central Banks Temporarily Halted
The Law of Physics When it Comes to Fair
Lending Rates?
9. What’s the Impact?
THE EXTREME COST OF SAFETY HAS
REDUCED THE EARNING POWER OF BONDS
High Yield Bond = $5,750
Corporate Bond = $3,030
Mortgage Backed Security = $1,380
US Government Agency = $1,400
US Treas. Security = $1,580
US T-Bill = $30
Money Market = $10
Yield Calculated from ML Index Data Base a/o Sept 2014
$100K
10. The Natural Reaction Is For Investors To Reach For Yield
Over Time To Keep Both Their Wealth and Income Stable
Declining Benefit Curve
11.
12. How is This Done?
The Government Has Eliminated Many Investment Options
13. What’s The Logic Behind This Strategy?
It Facilitates the Three Pillars of Fed Policy
Cheap Loans
& Refinancing
#1 Generate Wealth
Forces Risk
Taking
#3 Create Stable Employment
#2 Foster Productive Lending
Capital Seeks
More Productive
Opportunities
14. Wealth Pump Raises Consumer Spending
Wealth Effect
2 Primary Sources
Housing
Appreciation
15%
Wealth Generation
85% Earned
Income
ATM Cash Machine
Source: Alan Greenspan
Employment
Income
Investment
Returns
$
15. Supports The Three Pillars of Housing
White Line - Housing Affordability
Yellow Line - 30-year Mortgage Lending Rate
Orange Line - US Median Income
16. The Winds of Change Are In The Air
#1 Adapt
#2 Resist
#3 Create An Advantage
18. The Fed Needs to Begin Raising Interest Rates in the Next 12 Months
And Highly Leveraged Markets and Economies Will Not React Well
The Seeds of Inflation Have Been
Planted
3-year US Treasury Bond
The Market is Telling Us it Expects Changes
Soon
20. Starting Gun Problem
Everyone’s Getting Ready, so when It actually happens
be careful not to get Run over
Increases Liquidity Risks
21. The Fed’s Primary Strategy is Based On their Ability to Maintain Credibility
The Fed will maintain their
accommodative policies,
facilitate job creation, and
keep prices stable
Over-Confidence Trap
23. The Central Bank Can Print Money
By 1887, George Parker had hired his first employee
and rented a store in Salem for $12.50 a month (where
the Hawthorne Hotel now stands). He realized he was
good at selling and developing games. He was not so
good at production and finance, though his older
brother Charles was. George in 1888 invited Charles to
join him as a partner and Parker Brothers was born.
24. Creating Your Own Demand
S c r u t i n i z e C o l l a t e r a l
R
e
g
u
l
a
t
i
o
n
s
C
o
n
t
r
o
l
S
u
p
p
l
y
26. Economic Cycles
– Impact the Value Of Fixed-Income Securities
Expansion
Boom
Recession
Depression
Recovery
27. Price Variability
Bond Risk – Option #1 Duration/Time
1-3 Year Till
Maturity
3-7 Years Till Maturity
7-10 Years Till
Maturity
Return Curve
Short-Term
Intermediate Term
Long Term
1.86%
2.19%
ML 1-3 Year Corp & Gov’t Index B1A0 ML 5-7 Year Corp & Gov’t Index B310
Time Till Maturity
High Grade 3.14%
High Yield 3.9% 4.14% 5.55%
ML 7-10 Year Corp. & Gov’t B4A0
28. We Should Understand Interest Rates Could Stay Low
16%
14%
12%
10%
28 Years
1921 1929 1935 1942 1949 1956 1963 1970 1977 1984 1991 1998 2005 2012
8%
6%
4%
2%
Source: FactSet; Robert Shiller – Yale University
30. 7%
6%
5%
4%
3%
2%
1%
0%
5.8% 5.8%
2.6% 2.5%
6.1%
6.4%
2.8% 3.6%
7%
4.5%
8.1%
5.2%
11.6%
10%
AAA AA A BBB BB B CCC (In Poor Standings)
Credit Ratings
Yield (%)
Compensation For Credit Risk
AAA = C0A1 AA = C0A2
A = C0A3
Blue = 6/30/06
BBB = C0A4
BB = H0A4
CCC = H0A3
31. Summary To Bond Investing
1st – The Fed is trying to end their 6-year monetary experiment, it’s a good time to be cautious.
Policy mistakes could occur
Changes could happen more abruptly than currently anticipated
2nd – This is an excellent environment to deploy a bar bell strategy
Short-term opportunity offer low yields, but lots of future flexibility
Long-term opportunities are expensive so exploit less known market segments
3rd – Remain flexible and do not overreact to false market assumptions
Inflation should remain subdued because pricing is now global
Global factors could create unforeseen effects
4th – Interest rate changes move in long cycles based on expected inflation rates
Employment – wage growth and unemployment trends
Housing – price stability
Speculation – appetite for risk
Wealth – confidence and spending
Corporate Earnings Growth – healthy business environment
?
32.
33. 216 ES SEX STREET
SALEM, MA 01970
(978) 745 -9233
(800) 888 -MGMT
www.eCabot . com
info@eCabot . com