Upcoming Events Past Events

Risk Webinar Series: Ramifications of Investment Risk Management on Income Volatility and Distribution

10 February 2021

Forthcoming research examines societal income distribution in the statistical sense – such as its volatility, skewness, and kurtosis – and relates income distribution to the macro risk distribution faced by investors. This analysis compares how changes in both distributions over time relate to one another and tests the hypothesis that investors’ efforts to reduce volatility reallocates it to individuals in the form of income volatility. This also raises the question of whether such a pattern would represent a reduction of risk for investors, or rather just a substitution of long- and short-term risk. Put more practically, are investors’ risk management practices contributing to inequality?

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Risk Webinar Series: Navigating Crises as Long-term Investors

10 March 2021

Crises happen. Long-term investors are more exposed to them simply by virtue of their long holding periods. Their task cannot be to avoid crises, so instead they have to be resilient to them, which includes being able to anticipate them as well as possible so that board and staff know what they can expect, prepare accordingly, and proceed with their eyes wide open. The most widely-used statistics of investment risk, value-at-risk and probability-of-loss, omit details about what happens within an investment period, including how to know when systemic risk is rising and what might happen to their allocations, and newer statistics are beginning to gain traction to address these concerns.

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