It’s November and, historically, the market does well when the weather – at least here in Oklahoma - seems gray, forboding and wintry.
We had an earthquake over the weekend; the aftershocks have been rattling dishes in Oklahoma cupboards; the scientists say that the aftershocks could go on for months.
Last night, we had an aftershock that made the floor heat registers at my home shake, rattle and roll like Elvis did before the doc in Memphis gave him pills.
At any rate, if you can stand it, the market – at least based on history – could do well until May (the saying in New York used to be, “go away in May”).
There’s a new way to deal with volatility afoot. Milliman, the actuarial firm that is the very definition of anti-risk, has ported its method of hedging living benefits for most of the major insurance companies into a set of sub-accounts in the Ohio National variable annuity.