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Archive for December 4th, 2008

afternoon hypnagogia

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hypnagogia: stirring froot loops into pancake batter before making

hypnagogia: game – you go along until you ask, “what did abe lincoln wear over his pink boxer shorts?”

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Written by macheide

4 December 2008 at 4:37 pm

Posted in oneirra

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FYE 9/30/08 Asset Allocation

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FYE 9-30-2008 Asset AllocationFor S&P 500 companies with fiscal year ending September 30, the portion of defined benefit pension plan assets invested in equities dropped to less than 55% by the close of the 2008 fiscal year, after years of relatively stable asset allocation of about 60-65%. For the FYE 9/30 subset of companies, this chart shows the aggregate percentage pension asset allocation in equities (red diamonds), as contrasted with the aggregate percentage pension asset allocation in fixed income securities (blue squares), as of the close of fiscal years 2004 through 2008.

Although a portion of the decline in the portion of pension assets invested in equities can be attributable to stock market weakness (even before the extreme equity price declines seen in October and November after the 9/30/2008 close of this subset’s recent fiscal year), much of the decline represents an investment choice being made by an increasing number of pension plan sponsors: a permanent shift of significant funds out of equity securities. In fact, generally the FYE 9/30 subset is trailing the trend already evident in the FYE 12/31 subset which comprises the lion’s share of S&P 500 companies, for which the equity asset allocation had already dropped to about 55% by 12/31/2007 and is likely to be at 50% or below in financial statements for for 12/31/2008. Over the course of the next 1-2 years, watch for the two lines shown in this chart to cross; and don’t expect to see pension plans to ever again have average asset allocations in equities over 50%, no matter what bargains are present by the time the pension funds are finished with their fire sales.

(Remember, as I’ve previously disclaimed, posts such as this represent efforts of my favorite pastime. My formal work does not involve any of this, and none of it represents any position or comment that should in any way be attributed to my employer. Likewise, as always, it represents general personal impressions and should not be treated or used as formal professional advice.)

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Written by macheide

4 December 2008 at 4:30 pm

Posted in άctuary

No More Thursdays in 2008

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Insomnia. I’ve been awake since just after midnight: petty worries taking aim at the day’s work. Wouldn’t be rude to ask. Just that I won’t talk about that side of my work.

After about an hour trying unsuccessfully to sleep, I puttered a while through high-end parts & pieces for the labyrinth, including reinitiation of offline mirrors and elimination of naked URLs. Long enough for Curse of the Golden Flower to play in its entirety in the background while I kept doing just one step more than the one step more than I’d intended. Then 90 minutes of deep rest – but still not sleep – before third alarm, after muting the first two.

Was ragged enough to forget my teeth when I left for the office, despite remembering all other routines that ought to have reminded me. But did remember to get the garbage out to the street. Chilly, it was at 5:39am.

Didn’t feel like waiting for a new pot of coffee to brew by the time I made it downstairs after early morning routines, so put up with decaf. Don’t tell anyone, and I promise I won’t make a habit of it. Work cruised along relatively smoothly, even those damned timesheets. I have a major goal I’m going to push through for next Monday, but nothing worth a panic attack. Although I did pop an aleve mid-morning, preventatively so.

Thursday means my late morning was spent on another long conference call. We already know what’s coming next year and what won’t come before then, obviously. Last Thursday of the year, today turned out to be, although the month does still have a few Mondays left.

Taking the remainder of today remote.

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Written by macheide

4 December 2008 at 1:52 pm

Posted in deskjob