OECD calls for standardisation to create tradable longevity market

first_imgIt further urged pension investors to update their mortality assumptions regularly and ensure these recognised future mortality improvements, suggesting that failure to do so risked underestimating liabilities by 10%.“Likewise,” the report continued, “the use of assumptions that are not reflective of recent improvements in mortality can expose the pension plan or annuity provider to the need for a significant increase in reserves.”One of the suggestions to better address longevity risk was for the regulatory framework to be risk-based, so that a pension plan’s actions to mitigate any risk would be incentivised.However, the report raised concerns about the “potentially limited” capacity of insurers and reinsurers to take on risk, instead proposing that capital markets offer solutions that allow longevity risk to be traded.It said such tradable solutions could offer a “promising alternative” for pension schemes unwilling to increase risk buffers to retain their longevity risk.But it said it would be vital that the market offer standarised products and be transparent, with the development of longevity indices key to such a step. The OECD has called for greater standardisation and transparency in the pricing of longevity risk to allow for growth in the de-risking market.The think tank also reiterated earlier calls for the issuance of longevity bonds and governments to back the creation of functional longevity markets as it published its 2014 Pensions Outlook.Alongside the report, the body also published a detailed assessment of mortality assumptions and longevity risk, suggesting regulators should take a more proactive role in encouraging pension funds to manage their longevity.“More transparency and standardisation in the pricing of longevity instruments would aid potential investors in becoming comfortable with investing in longevity risk and allow for the further development of index-based instruments,” the report said.last_img read more

How NASA scientists paid homage to 49ers’ receivers after successful landing of Mars craft

first_imgThe touchdown celebration dates back to 1965, when New York Giants receiver Homer Jones caught an 89-yard touchdown pass on the first play of a game and punctuated the deed by spiking the football in the end zone.That’s according to a 2009 Bleacher Report story, and I think we should stick with it.Since then the TD two-step has become one of the foremost examples of cultural and artistic expression in the world. CLICK HERE if you are having a problem viewing the video on a mobile …last_img read more

HCue: How To Make a Cammo Can

first_imgInstructions:CLEAN – Wash off any dirt on the surface of the ammo can so that the paint will hold.PAINT GREEN – Cover any lettering or other coloring with green spray paint.ARRANGE FOLIAGE – Apply looped scotch tape to back of foliage and arrange it facing the same direction on one side of the can for a natural effect. PAINT ALTERNATE COLORS – Painting lightly, make three wide diagonal stripes with black spray paint, then apply two brown stripes in between. Quickly lift off the foliage and let it dry. REPEAT STEPS 3 & 4 ON ALL SIDES – Since you are painting lightly, you should be able to paint in an order that allows sides to dry as you go.LABEL – To make your Cammo Can official, add a Geocaching Logo Stencil to the front.HIDE – You know what to do from here. And if you don’t, go here.Do you have a geocaching tip that would make a great HCue video? Share your idea(s) in the comments below!Share with your Friends:More What you’ll need:Ammo can – Buy online or at an army surplus storeFlat camo spray paint – Green, black, and brownFoliage – Ferns, cedar, and weeds all work well (avoid plants with too much surface area like leaves)Scotch TapeNewspaperGeocaching stencil – Optional… but awesome SharePrint RelatedGeocaching ROCKS!October 18, 2015In “Community”Lake Gunn Fishermans Rest (Milford Rd, Fiordland) – Geocache of the WeekSeptember 12, 2018In “Geocache of the Week”FF2017: Warp Pipe — Geocache of the WeekMay 1, 2019In “Community”last_img read more

Trading Scarcity: Is This the Killer App for the Real-Time Web?

first_imgMost platforms gain traction through a killer app. In the second generation of real time, that killer app was market data for financial traders. What will it be in the third generation?Today, the real-time Web is associated with social networking status updates via services such as Twitter and Facebook. But whether this will be the killer app for this generation is not clear. As we enter a period of “social update exhaustion” (as in, “I really do not care what you had for breakfast”), the real-time Web may evolve into things that we really need to make a living or to get essential stuff done. The killer app matters, because the winner at the platform layer will be the company that hosts it. bernard lunn Related Posts Other Killer App ContendersWe think the killer app is something we call “trading scarcity.” Let’s first look at three other contenders:Data portabilityBecause the real-time Web has grown out of social media status updates, the typical killer app that people have been working on is data portability: automated connections between different social networking sites. This is certainly how Gnip has positioned itself. Question: is this interesting to people other than the social media experts who write about it? Or is the mass market happy to choose one site and stick with it? Will we simply see bilateral negotiations between sites emerge, along with basic best practices?News deliveryQuestion: is this interesting to people other than journalists and bloggers? News is a fairly big business, but in the big picture, it is only one niche. How many journalists are there? If all of them used Twitter all day long, would it be a big business?Customer serviceThe ability to react to problems in real time, to nip problems in the bud, is important to companies of any size. This is big. Question: how practical will implementation be? The ability to respond quickly is only one aspect of good customer service; the other aspects (hiring, training, motivation, corporate policy) are both more critical and more complex.The Law of Supply and Demand Has Not Been RepealedThe free, abundant digital domain is mirrored by an expensive, scarce physical domain.Online, we tend to focus on the free, abundant digital domain. The debate on Freeconomics rages today, but the basics are simple. The Internet is an enormous, almost-free copying machine for anything digital, so price will tend towards $0. Air is the most precious commodity in the world (try going without it for a few minutes), but it is free (notwithstanding negative externalities).But all that free stuff must be paid for by something that people would pay for. That is where the expensive, scarce physical domain comes in. People pay more for things when the demand is high and supply is low. So to make money, you need to sell products and services that are scarce… and in demand.Or you could make money by connecting supply and demand using the real-time Web.But it has to be real time. That is the whole point of scarcity. A hotel room may be available for $75 right now, but 10 minutes later it could be $125 (or $50). Acme’s services are available right now for $150 per hour, but 10 minutes later it is charging $200 because it is more booked up. You see a hand-knit cashmere sweater available right now for $350; it’s the only one, you want it, and it might be gone in a few minutes. Premium ad space is available right now for a CPM of $15… no, make that $17.I could go on and on. This affects almost every market in the world. Plenty of untapped opportunity lies here for enterprises, startups, Main Street small businesses, and individual free agents.Entrepreneurs have big technical challenges to work on. Message delivery (which we explored in our last post on the subject) is challenging enough but very minor compared to the devil-in-the-details issues at the application layer. These will have to be solved in domain-specific ways.In this world, the status update tends to go from a socially driven message (“I just did this. Are you interested?”) to a more commercially driven message (“This is what I have available right now at this price. Are you interested?” or “This is what I need right now. Do you have it?”).Like fresh fish? Are you willing to pay more for fresh, healthy, and delicious than stinky, old, and sickening? Then go here.Trading Attention and EndorsementFor those of us who were steeped in the early days of social media, this all sounds a bit too commercial. Surely we are not just economic animals, are we? No, we are not. Maslow’s hierarchy of needs stated that clearly.But even if you take money out of the equation, we are still trading in scarcity – in this case, the scarcity of our attention.You have only 24 hours in a day and 365 days in a year, and the average life span is around 80 years. You are a limited resource. Sorry if that is news to you. 🙂You are getting pinged from all around, forced to constantly make decisions about where to allocate one of your finite resources: time.Your other limited resource is credibility. Social networks want you to endorse (that is, sell) their services to your friends. They may pay you in cash or ‘Attaboys, but whichever you take, you are dipping into a limited pot of credibility. Shill too much, and your friends will abandon you. Ask any Amway or multi-level marketing sales agent, and they will tell you how that works.Eliminating the Curse of “May You Have Much Inventory”Inventory is the curse of any business in the expensive, scarce physical domain. Think of what Dell did in the PC business: it used real-time supply chains to eliminate inventory, building each PC to order. This is as close to magic as you can get in the expensive, scarce physical domain. You turn negative cash flow (working capital that you need to expand) into positive working capital cash flow: you get an order, get paid, and then you pay the supplier. Perhaps on the real-time Web this all happens close to simultaneously, so the very concept of working capital begins to disappear.Explaining the business value of trading scarcity using the real-time Web is not difficult, then. Ask any company, “Do you want to eliminate inventory?” You will get its full attention. This is not technology looking for a problem to solve. This is the biggest problem that most business people in the expensive, scarce physical domain (i.e. the real world) face every day.What This Means for Real-Time Web PlayersEnvision a future where this has played out. Most of the world’s transactional opportunities flow through the real-time Web. You can tap into that flow to buy and sell. And you can be an intermediary, which is fundamentally the role of aggregating demand. What systems would you use in that future?Those systems are the ones that the winners of the real-time Web have to build.It won’t be simple. Meeting the challenge in one domain is complex enough. Building the platforms that accommodate multiple domains will take a lot of work, and we are at a very early stage. Massive Non-Desk Workforce is an Opportunity fo… Cognitive Automation is the Immediate Future of… IT + Project Management: A Love Affair Tags:#enterprise#Real-Time Web 3 Areas of Your Business that Need Tech Nowlast_img read more

Kevin Durant likely out for in Warriors’ first 2 games vs Blazers

first_imgGolden State Warriors’ Kevin Durant, left, walks away from referee Ken Mauer during the first half of Game 5 of the team’s second-round NBA basketball playoff series against the Houston Rockets on Wednesday, May 8, 2019, in Oakland, Calif. (AP Photo/Ben Margot)OAKLAND, Calif. — Kevin Durant watched from home in the Bay Area as the Golden State Warriors finished off James Harden and the Houston Rockets on the road.The two-time reigning NBA Finals MVP has a bit more cheerleading to do before he gets back on the court.ADVERTISEMENT Private companies step in to help SEA Games hosting SEA Games hosting troubles anger Duterte Durant is likely to miss Games 1 and 2 of the Western Conference Finals against the Portland Trail Blazers while he recovers from a strained right calf. Durant was injured in Game 5 against Houston.“Everyone needs to slow down a little bit on the Kevin stuff. He hasn’t even stepped on the floor yet,” coach Steve Kerr said Monday, a day before Game 1, noting a more extensive update would come Thursday.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsGolden State showed it can win without KD: Stephen Curry came alive at last in the second half of the clincher at Houston, scoring all 33 of his points after the break.Curry and Splash Brother Klay Thompson will look to build off strong performances in that final game against the Rockets to lead the top-seeded Warriors. The two-time defending champions are seeking a fifth straight trip to the NBA Finals. Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Duterte wants probe of SEA Games mess LATEST STORIES Cayetano: Senate, Drilon to be blamed for SEA Games mess They have reached their first conference final since 2000, when Portland lost in seven games to Kobe Bryant and the eventual champion Los Angeles Lakers.“This is arguably the biggest win that we’ve had in the franchise for a long time. To be a part of it, to do it the way we did, I’m thrilled,” Blazers coach Terry Stotts said. “I’m really happy for our guys. As a coach, I think you experience the joy of the team, having different guys come in.”Here are some things to watch as the Warriors join the Lakers as the only teams to reach at least five straight Western Conference Finals:LILLARD’S CHANCEOn Dec. 27, in Lillard’s final regular season game at Oracle — about a 15-minute walk from where he grew up — the Blazers star hit a go-ahead 3-pointer with 6.3 seconds left in overtime and scored 21 points in a 110-109 win.“That’s a hell of a way to go out,” Lillard said.Reaching the NBA Finals might top that.Hold that thought, Thompson said.“Has he had a lot of wins in Oakland?” Thompson cracked Monday. “It’s playoff time. He has had good games. Yeah, he’s a great player. There’s a history between us obviously, the franchises, we’ve seen them a lot the last five years. They’re playing great. They’re on a roll, our antennas are definitely up.”FAMILY AFFAIR PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Hontiveros presses for security audit of national power grid Don’t miss out on the latest news and information. DA eyes importing ‘galunggong’ anew Philippine Arena Interchange inaugurated Sports Related Videospowered by AdSparcRead Next REST FACTORGolden State finished off the Rockets in Houston on Friday night, so the Warriors got some rest this time after a quick turnaround following a six-game series in the first round against the Clippers in which they had to play again about 40 hours later.Injured Warriors big man DeMarcus Cousins has used the time to continue his rehab from a torn left quadriceps muscle suffered in Game 2 of the first round against the Clippers. It’s unclear yet whether he might be able to return this round.TURNOVERS AND REBOUNDINGThe Warriors struggle when they get sloppy — and it’s a fine line of being chaotic when it works so well and when they become careless and it’s costly.Portland took good care of the ball in Game 7 committing just four turnovers.On the rebounding front, Golden State won three games when it outrebounded the Rockets and another — Game 6 — despite a disadvantage on the boards.The Blazers had 55 rebounds in the clincher, with Kanter grabbing five on the offensive glass. Leap of faith: Cavs sign Michigan’s Beilein to 5-year deal View comments Curry texted his little brother over the weekend to let him know they’d see each other soon. Yes, wearing opposite jerseys for the Western Conference Finals.The Currys have played many times, just not on the postseason stage.“He said, ‘I’ll see you Tuesday.’ I’m looking forward to it,” said Seth, who’s in his first season with Portland. “It’s going to be a lot of fun. It’s hard to believe right now. So many years I’ve watched Steph play in the Western Conference Finals, the NBA Finals, being in the crowd. It’s going to be fun to be out there on the court, competing, to get to that final. It’s a dream come true for us, but our families are going to have a lot of fun as well.”Even if a tad bit torn. Their parents will flip a coin, with Dell and Sonya each sporting one son’s gear depending on the result.Their sister, Sydel, posted on Twitter shortly after the Blazers won: “Engage….#NeutralNancy lol.”“I just know watching Seth play I get nervous watching him like on TV and stuff,” Stephen said after practice Monday. “For them, it’s family and parents who supported us all the way through the ranks. Now to be in a situation like this where I guess it’s technically a win-win for them, they’re going to the finals regardless, but it’s kind of crazy to think we’re all on this stage and get to play in front of our family and just the amount of happiness and joy that comes with that is crazy.”FASTING KANTER: An extremely thirsty Enes Kanter loaded up his backpack with five or six bottles of Gatorade after Game 7 — for later.The Trail Blazers center avoids food and drink from sunrise to sunset as part of the Muslim holy month of Ramadan. It was that way for the last three games of the Denver series and will be that way during the Golden State series.Kanter said he reached out to NBA great Hakeem Olajuwon for advice on performing in the playoffs while fasting during Ramadan.“The game of basketball is mental over physical so I think I’ll be fine for this stretch,” Kanter said. They will face another formidable backcourt with Damian Lillard and CJ McCollum when the best-of-seven series begins Tuesday night at Oracle Arena.There are several intriguing storylines in this matchup, too, like Portland star Damian Lillard coming home to Oakland with a chance to shine on the big stage in the final season at Oracle before the Warriors move across the bay to play in San Francisco next season.And how about the Curry brothers? Steph’s little brother, Seth, plays for the Trail Blazers.The Warriors swept the Blazers in the first round two years ago during a remarkable 16-1 postseason run.Lillard missed his first six 3-point tries Sunday then swished one midway through the fourth when Portland needed him most. The Trail Blazers overcame a 17-point deficit on Denver’s home court to outlast the Nuggets for a 100-96 win.ADVERTISEMENT MOST READlast_img read more

Ankle sprain swelling

first_imgMild to severe swelling and bruising can accompany a sprain to the ankle. Bruising usually indicates tearing of ligament tissue and a more severe sprain.Review Date:2/19/2011Reviewed By:Linda Vorvick, MD, Medical Director, MEDEX Northwest Division of Physician Assistant Studies, University of Washington School of Medicine; and C. Benjamin Ma, MD, Assistant Professor, Chief, Sports Medicine and Shoulder Service, UCSF Dept of Orthopaedic Surgery. Also reviewed by David Zieve, MD, MHA, Medical Director, A.D.A.M., Inc.last_img read more

Virat Kohli hints at fielding two spinners in Lord’s Test vs England

first_imgVirat Kohli hinted that India may have two spinners in their playing XI when they take on England in the second Test of the five-match series at Lords, starting on Thursday.India are currently trailing 1-0 in the series after England won the first Test at Edgbaston by 31 runs. While the Indian bowlers successfully scalped all 20 wickets across the two innings, Indian batsmen, barring Kohli, failed to rise to the occasion.Captain Kohli led from the front and crafted a brilliant 149 in the first innings. He also scored 51 in the second innings when India were chasing a mere total of 198 runs.However, the rest of the batsmen failed to stick to their crease and make their presence felt. Instead, they struggled and gave away their wickets without much fight.Also read – India vs England: Virat Kohli wants composure from his batsmen at Lord’sA couple of days before the second Test, there was a healthy amount of grass on the pitch at Lord’s. It is expected that the groundsmen will shave a few bits before the start of the match but even if they don’t, the pitch is likely to turn out quite dry.The conditions have prompted the Indian camp to rethink their bowling strategy and find a combination to go with and the team management are mulling fielding two spinners.”Fielding two spinners is a tempting thought. It’s definitely in contention,” Kohli said at the press conference on the eve of the Lords Test.”The wicket is quite hard and dry. It’s been quite hot in London for the past couple of months. There is some grass but that’s just to keep the wicket together. Otherwise, it would have been hard to hold itself even on the first two days, that’s how dry it’s been here.”advertisementAlso read – Batting dilemma, strategical changes in line for India ahead of Lord’s Test”Pitch is going to be an all-round wicket, Batsmen bat well they will get runs. Seamers are going to be in play with the Dukes ball and overcast conditions as and when. When the wicket wears off spinners can come into play. Tempting thought to field two spinners, but it’s a decision that the team management will make taking into consideration the balance of the side,” Kohli added.Despite the loss at Edgbaston, Kohli was confident that his team can turn the tides and showed faith in the fact that they have shown resistance on foreign shores.”I feel as a team we are just about there. It’s not like we are getting rolled over or getting dominated. Every match we play is competitive. We are in the zone where we are very positive,” he added.Also read -India vs England: Ishant Sharma’s sole motive is to win matches for IndiaAddressing the frailties of India’s top order, Kohli said that there are just about a few adjustments batsmen need to make, particularly in how they react to situation after wickets fall down.”I don’t think anything [top order failure] should be judged so soon. We as a team definitely have more patience than other people and so, we don’t take something as a pattern soon.Also read – Edgbaston Test win has filled England team with confidence, says Joe Root”But when it comes to the wickets falling quickly, it more of a mental aspect than technical — like how you think about a situation after wicket falls. I think that matters a lot, you should have a clear plan of what you want to do in the next 30 deliveries and that plan more often than not, is not aggression. We need a little bit more composure there and that, as a batting unit, we have discussed,” Kohli said.last_img read more