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Tom Cochrane's Blog
The Kelly Formula and the Financial Crisis
The Kelly Formula (also known as the Kelly System or Kelly Criterion) is a proportional betting system that optimizes a gambler’s bankroll. In other words, it is a money management system that enables the maximum rate of compound wealth concurrent with zero chance of ruin.
Healthcare Reform Provides Insurance in Name Only
After a tough couple of years for former Federal Reserve Chairman Alan Greenspan, it is time to provide some credit where credit is due.
Chairman Greenspan hit the nail on the head in his recent book The Age of Turbulence.
The following are Greenspan’s comments regarding entitlement spending and the healthcare system:
Why Buy Health Insurance When Health Reform Offers-Up Such an Inexpensive Put Option?
The Obama health reform legislation has the potential to create some serious adverse selection issues for health insurance companies.
Stated differently, there really does not seem to be a rational basis for purchasing an individual health insurance product under Obamacare.
DTCC Uses Technology to Drive Cost Savings and Efficiency in the Retirement Income Industry
Adam J. Bryan is Managing Director and General Manager of the Depository Trust and Clearing Corporation’s (DTCC) Insurance &Retirement Services.
Glenn Daily on Buying Annuities and Why it Might Make Sense to Wait
Glenn Daily is one of the top financial advisors in the country.
Specializing in life insurance and annuities, Glenn is widely recognized for his deep technical expertise and high level of objectivity as his services are strictly on a fee-only basis.
The World is Very Long on Longevity Risk
Longevity risk is clearly a huge growth market. One has to wonder, though, where the capacity to address this market opportunity will come from.
Buffett's Investment in Goldman Sachs
It's been a year since the market bottomed and the financial crisis presumably peaked.
There has been enough time for noted financial journalists such as Roger Lowenstein and Michael Lewis to write soon to be released books on the crisis.
Achaean Financial is Proving Innovation is Alive and Well in the Annuity Business
Lorry Stensrud, a seasoned executive turned entrepreneur, is on the leading-edge of retirement income product development with his new Venture Achaean Financial.
Achaean’s Income Plus+ product provides a relatively high level of guaranteed starting income while maintaining both liquidity and upside potential.
Anna Rappaport on Annuities and Planning for the Long Term
Anna Rappaport is widely recognized as a leading expert on retirement systems, workforce issues, the impact of changing demographics and women’s retirement security.
Bob MacDonald on the Unprecedented Opportunity in the Annuity Industry
Bob MacDonald has had a storied career as a leading entrepreneur and executive in the financial services industry.
Some of Bob’s roles include: president and CEO of ITT Life; founder, chairman and CEO of the highly successful LifeUSA, and; CEO of Allianz Life of North America. Bob is also a noted business author with several best-selling management books to his credit.
As a widely acknowledged thought leader and product innovator in the financial services industry, Bob is able and willing to share a wealth of experience and insights.