SECTION II

Monograph

Summaries

INVESTMENT GOVERNANCE FOR FIDUCIARIES

Effective investment governance is an enabler of good stewardship, and for this reason it should, in our view, be of interest to all fiduciaries, no matter the size of the pool of assets or the nature of the beneficiaries.

Secure Retirement: Connecting Financial Theory and Human Behavior

Financial science can be used to improve the retirement planning effort. Despite a vast amount of literature on the topic, Secure Retirement recognizes the need to validate this knowledge and develop a comprehensive framework for investors.

The Productivity Puzzle: Restoring Economic Dynamism

Economists cannot explain why productivity growth slowed after 2005 in the US and advanced economies. But an innovative interdisciplinary approach goes beyond traditional economic analysis to offer policy solutions and new insights for investors.

Behavioral Finance: The Second Generation

The first generation of behavioral finance described investors as irrational; the second generation describes them as normal—neither rational nor irrational. This monograph focuses on new behavioral insights and provides guidance for avoiding errors.