How to Kill a Black Swan Remy Briand and David Owyong ...

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www.journalofindexes.com Vol. 12 No. 4 features How To Kill A Black Swan By Remy Briand and David Owyong ..........10 A road map for managing risk in times of crisis. Benchmarking Policy Portfolios By David Krein ...........................18 A look at the importance of a well-fitted benchmark. An Interview With Susan Mangiero By Journal of Indexes Editors ..................22 A pension risk management expert considers 2008. How To Minimize Your Cost Of Trading ETFs By Gary Gastineau . ........................24 Trading ETFs is different from trading stocks. The Future Of Portable Alpha By Sabrina Callin and Steve Jones. ............32 Portable alpha must adapt to the new era of risk. The Fiduciary Principle By John Bogle. ............................38 A clarion call for a return to fiduciary responsibility. Managing The Risks In Ourselves By David Blitzer ...........................42 2008 was part of the normal boom and bust cycle. Fly On The Wall By Dave Nadig . ...........................56 How Dow components are really chosen. news CVC To Buy iShares … Or Maybe Not ..........44 Dow Jones Rebrands Two Index Families .......44 Grim Results For Active Managers In 2008 . .....44 MacroMarkets Closes Oil Fund, Cancels Housing IPO 44 Indexing Developments ....................45 Around The World Of ETFs . .................47 Back To The Futures .......................49 Know Your Options . .......................49 From The Exchanges .......................49 On The Move . ............................49 data Selected Major Indexes ................... 51 Returns Of Largest U.S. Index Mutual Funds .. 52 U.S. Market Overview In Style ............... 53 U.S. Economic Sector Review .............. 54 Exchange-Traded Funds Corner ............ 55 10 18 32 POSTMASTER: Send all address changes to Charter Financial Publishing Network, Inc., P.O. Box 7550, Shrewsbury, N.J. 07702. Reproduction, photocopying or incorporation into any information-retrieval system for external or internal use is prohibited unless permission is obtained in writing beforehand from the Journal Of Indexes in each case for a specific article. The subscription fee entitles the subscriber to one copy only. Unauthorized copying is considered theft. www.journalofindexes.com July/August 2009 1
Page 1: How to Kill a Black Swan Remy Brian
Page 6 and 7: FREE subscRiption oFFER! The Journa
Page 8 and 9: David Smith Publisher dsmith@fa-mag
Page 10 and 11: Editor’s Note Got Risk? Jim Wiand
Page 12 and 13: How To Kill A Black Swan Risk and a
Page 14 and 15: Figure 2 Comparison Of Asset Return
Page 16 and 17: Figure 5 Historical Real Returns Fo
Page 18 and 19: Figure 8 Subset Of A Multi-Asset Cl
Page 20 and 21: Benchmarking Policy Portfolios How
Page 22 and 23: investor has decided to benchmark 8
Page 24 and 25: An Interview With Susan Mangiero By
Page 26 and 27: How To Minimize Your Cost Of Tradin
Page 28 and 29: Figure 2 Offer NAV Proxy Bid Using
Page 30 and 31: ETF Trading Volume Is Huge, Growing
Page 32 and 33: Figure 5 Hypothetical ETF Limit Ord
Page 34 and 35: Gastineau continued from page 31 th
Page 36 and 37: Portable alpha approaches—which e
Page 38 and 39: to write the book “Portable Alpha
Page 40 and 41: sitated more routine adjustment in
Page 42 and 43: Bogle’s Corner The Fiduciary Prin
Page 44 and 45: at the direct expense of the invest
Page 46 and 47: Talking Indexes Managing The Risks
Page 48 and 49: News CVC To Buy iShares … Or Mayb
Page 50 and 51: S&P Introduces Risk-Controlled Inde
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News New SPDR Offers Twist On Mortg
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Global Index Data Selected Major In
Page 56 and 57:
Morningstar U.S. Style Overview: U.
Page 58 and 59:
Exchange-Traded Funds Corner Larges
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“For a strong foundation in my cl
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