China's Emerging Peak
Reopening the global economy brings inflation pressures. the greater risk may lay with China’s real estate bubble.
Relocating Value
An Unwarranted Demise. Value investors in the U.S. extol the virtues of patience and resolve as their under-performance reaches two...
The Property Ladder
The Property Ladder, Capital Risk's US Economic Outlook for the second quarter of 2021.
Inflation: A Supply Phenomenon
Constrained Supply. The global economy is reopening, with the U.S. leading the way with its vaccine roll-out. While the Delta variant of...
Asymmetric Inflation
America is on the road to recovery. A multi-speed global recovery that will supply different leaders at different times and smooth growth.
America’s Pyrrhic Victory
In an age of science, politics reigned. America can see the light at the end of the tunnel. The hope is for a return to normalcy by...
Stimulating Exuberance
The pump is primed. High valuations in nearly every asset class suggest investors see promise everywhere. The tune is tactical investing.
The Corporate Pension Liability Accounting Components
While the specific calculation of the pension liability can take different forms, core principles always apply to the valuation. An...
Constructing the Corporate Pension Liability
Actuaries must forecast the future along two dimensions to construct the liability: demographic and economic. The relative stability of...
Defining the Corporate Pension Liability
There are two drivers of the liability’s size. First, the forecast of the amount of cash flows payable during retirement. Second, the...