One of professor said that at one of the MIT open course, is this true? If yes, why?

I have reading about immunization which is the technique insurance company (I guess this more for life insurance) to much off its financial liabilities. But I guess for more contingent based insurance, then the conventional investment targets such as target return by minimising the risk/target the r...

Thank you Alan. Yes I agree that auto-attributing to some balanced index funds to save for your retirement is good idea. But it is fairly difficult to stay out of game when you are in the industry. I wonder if the recession risk is overstated as yield curve behavior has been somewhat self fulfilling...

Thank you, this is very helpful. Does it mean the insurance company tends to invest in fixed income products? Does do they use equity investment to do to manage their risks (in each tenor buckets)?

Headline from Bloomberg this morning, the treasury 3m/10year spread turned negative led the market emotion swing into negative from positive during a single trading day. People got spooked and dumping their shares. I am wondering if the market is producing false positive for recession based on the o...

Just curious, in the latest cohort lecture Mr Graham mentioned some HF manager sometimes just use over-simplify the strategies of plotting YTM vs duration to find mis-priced bonds to trade. Does this strategy only consider 1st order dervatives dV/dy's impact on the bond valuation? What are more soph...

Thank you very much. This is very helpful. My working experience has been mostly on the equity side of the world, things seems simpler (of course until you reach the vol surfaces). But I feel fixed income is more like a game for grow-ups. 

Hi, I am asked to interview for a Portfolio Manager / Product Solution (fixed income focused) role for an asset management arm of a large insurance company. My past experiences has been at sell side I-Banks and Hedge funds. What are the main difference in managing the risk (and generate return) for ...

I am revisiting my CQF material to prepare one of my upcoming interviews. And want to see if my understanding (based on my re-reading) is correct for some fundamentals. 1. Is the YTM and annualised coupon is the same if the bond price is at par? When I use the continuous time model to calculate YTM,...