The California Public Employee’s Retirement System or Calpers plans to shed nearly $4 billion dollars of hedge fund investments. “Calpers has always been a leader in the public pension space,” says Olivia Mitchell, Wharton Professor of Insurance/Risk Management and Applied Economics/Policy and Director of the Pension Research Council. “Certainly others will take a good look at their hedge fund portfolios.”
September 17, 2014
August 26, 2014
A recent panel discussed efforts to strengthen retirement planning through financial literacy, given that it is now more important than ever to save for retirement. Unfortunately, many workers are penalized by low levels of financial sophistication resulting in poor financial planning. Panelist Olivia S. Mitchell, Wharton Professor of Insurance/Risk Management and Applied Economics/Policy and Director of the Pension Research Council spoke on these themes, along with Carlos Ramirez, President of the Mexican National Commission for the Pension System. He is responsible for the Commission’s financial literacy initiative and for regulating Mexico’s pensions. Bettina Von Jagow, Chairwoman of My Finance Coach, is a former professor of literary and cultural sciences at the University of Erfurt, Germany; the foundation seeks to improve students’ understanding of finance.
Click here to read the full discussion on financial literacy at ProjectM-Online.com
August 15, 2014
For over 40 years, the Wharton Seminars for Business Journalists have provided several thousand members of the media insight from Wharton faculty into topics such as financial markets, accounting principles, corporate strategy and the global economy. Attend a Philadelphia flagship program, held annually on the University of Pennsylvania campus at the Wharton School’s Jon M. Huntsman Hall. Learn business concepts from such renowned Wharton professors as Jeremy Siegel, Olivia Mitchell, and Brian Bushee.
Click here to learn more.
August 1, 2014
July 30, 2014
July 29, 2014
Olivia S. Mitchell, Wharton Professor of Insurance/Risk Management and Applied Economics/Policy and Director of the Pension Research Council, and her coauthor Annamaria Lusardi of George Washington University, designed a simple financial literacy survey, which they fielded on older Americans. Shocked at the poor results, they then launched an international study to determine how our population compares to other countries.
The Germans and Swiss were relatively savvy, where a small majority (53% and 50%, respectively) got all three questions right. Only 30% did so in the U.S and 27% in Japan. Russians fared worst of the nations examined.
Click here to read about the results on BloombergView.com
July 25, 2014
Being a ‘thief of your own wallet’ is how the Dutch describe those who overspend and thereby undermine their financial wellbeing. A new study by Olivia S. Mitchell, Wharton Professor of Insurance/Risk Management and Applied Economics/Policy and Director of the Pension Research Council, coauthored by Annamaria Lusardi of George Washington University, shows that we all do this, not just the Dutch!
Many Americans lack an understanding of interest rates, inflation, and diversification. Without proper financial knowledge, people make poor informed financial decisions. Unsurprisingly, this leads them to undertake more borrowing, engage in less saving, and overspend on fees.
Click here to read more at ProjectM-Online