Ryan ALM
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Misleading Indicators
By: Ron Ryan, Chairman, Ryan ALM, Inc. The Commerce Department reports with some glee that sales and income figures show an easing up of the rate of which business is easing off, which is taken as proof that there is...
DC Participants: "Just Say No"
Most everyone who lived through the '80s will remember the slogan "Just Say No". The slogan was created and championed by Nancy Reagan during her husband's presidency. As you'll recall, the slogan was part of the U.S.-led war on drugs....
ARPA Update as of March 28, 2025
Welcome to the last update of March. If you are a fan of both Men's and Women's college basketball, there wasn't as much "madness" as usual during the respective tournaments, as all #1 seeds made the men's Final Four, while...
What's Better For A Pension Plan?
I'm pleased to share with you the latest thought piece from Ron Ryan, Chairman, Ryan ALM, Inc. Ron shares his wisdom regarding what is the better outcome for a pension plan. Is it a 20% asset growth or a 20%...
An Element of Certainty Can Be Achieved
I've spent the last few days attending my first GAPPT conference in Braselton, GA. The conference has been terrific as the venue is beautiful, the attendees/trustees delightful, and the speakers/topics topnotch. Senior, highly experienced members of our pension community have...
ARPA Update as of March 21, 2025
Welcome to the first update since Spring sprang last week. Given that snow was in the forecast for the Northeast, we have a way to go before it feels like baseball season in NJ. Regarding the implementation of ARPA, the...
FOMC and Powell Deliver Worrying Message
I produced a post recently titled, "Parallels to the 1970s? " in which I discussed the challenging economic environment that existed during the 1970s as a result of two oil shocks and some sketchy decision making on the part of...
That Door's Closed. What's behind Door #2?
I've mentioned often through posts on this blog that we as an industry tend to overwhelm good ideas by allocating ridiculous sums of money in the pursuit of the next great idea. Sure, the idea was terrific several years ago,...
ARPA Update as of March 14, 2025
Happy St. Patrick's Day! I'm proud to be half Irish (Grandmother's name is Margaret Mary O'Brien). Today we honor St. Patrick, the patron Saint of Ireland. There may be a few among us who may also honor Arthur Guinness today,...
Real GDP Exceeding Real Potential GDP
I was introduced to the St. Louis Fed's amazing data base - FRED - many years ago by a former Invesco colleague. What is FRED? According to the St. Louis Fed's website, "FRED is short for Federal Reserve Economic Data,...