User profiles for Lawrence N. Bader

Lawrence N Bader

Retired
Verified email at nc.rr.com
Cited by 510

[PDF][PDF] Reinventing pension actuarial science

LN Bader, J Gold - Pension Forum, 2003 - users.erols.com
The 1974 passage of ERISA halted the evolution of the actuarial pension model. This frozen
model was unable to incorporate the emerging science of financial economics, which in turn …

Asset performance and surplus control: A dual-shortfall approach

…, S Kogelman, LN Bader - Journal of Portfolio …, 1992 - search.proquest.com
To achieve a reasonable balance between asset and surplus shortfall risks, a methodology
is presented for applying simultaneous shortfall constraints on both the asset performance …

The case against stock in public pension funds

LN Bader, J Gold - Financial Analysts Journal, 2007 - Taylor & Francis
The case against equity investment by US corporate pension funds has been well documented
for a quarter century. The public sector has ignored or dismissed that case because of …

Pension deficits: an unnecessary evil

LN Bader - Financial Analysts Journal, 2004 - Taylor & Francis
Many companies believe that underfunding pension plans is an inexpensive way to borrow
from employees and that mismatching equity investments to bondlike pension promises …

Treatment of pension plans in a corporate valuation

LN Bader - Financial Analysts Journal, 2003 - Taylor & Francis
Failure to adjust corporate valuations for pension assets and liabilities that are separable
from the business operations can lead to dramatically misvalued companies.

Interest rate-sensitive asset allocation

ML Leibowitz, S Kogelman, LN Bader… - Journal of Portfolio …, 1994 - search.proquest.com
By using volatility as the sole measure of risk, the traditional asset allocation approach neglects
some investors' concerns about achieving a critical threshold return that remains fixed as …

Optimal'portfolios relative to benchmark allocations.

ML Leibowitz, LN Bader - Journal of Portfolio Management, 1993 - elibrary.ru
Presents a study on portfolio performance relative to an all-bond benchmark with a duration
that is representative of the investment-grade bond market. Benchmarks with equity …

Benchmark departures and total fund risk: A second dimension of diversification

ML Leibowitz, LN Bader, S Kogelman… - Financial Analysts …, 1995 - Taylor & Francis
Standard asset class benchmarks are efficient in controlling and measuring investment
performance on portfolio segments. This operational efficiency, however, can impede economic …

How Public Pension Plans Can (and Why They Shouldn't) Ignore Financial Economics

LN Bader - Financial Analysts Journal, 2015 - Taylor & Francis
Public pension plan sponsors claim that their perpetual existence and taxing power exempt
them from financial economics. They therefore ignore current market conditions and rely on …

The opportunity for greater flexibility in the bond component

ML Leibowitz, LN Bader… - Journal of Portfolio …, 1995 - search.proquest.com
During the decade ending in 1994, broadly declining interest rates generously rewarded
duration extension, but at a cost of added volatility. Duration extension in a 60% equity/40% …