“Iceberg, dead ahead” was the call at
10:25 pm, April 14, 1912. It was an immediate
reality. A few hours later, at 2:20 on the
morning of April 15, the Titanic sunk. Shortly
after the collision, the Titanic wireless
operator got off a radio telegraph SOS (one of
the earliest uses of the SOS code) to the RMS
Carpathia who retransmitted directly. The
news of the iceberg collision was received in
New York at 1:00 am. The message was met
with incredulity and disbelief. Only one
newspaper, the New York Times, published it as real and suffered the indignity of doubt
until many hours later when other cables
confirmed both the collision and the sinking.
April 15, 2012
By: Morton N. Lane, President
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Investigating the Securities Sea in recent years has led many to look for alternative investments. They have gone exploring in the Alternative Ocean, so to speak. They are looking for opportunities which provide acceptable returns that are uncorrelated with the movements in their main investment markets – common equity and corporate bonds. Real alternative investments are hard to find. They are not in abundant supply. The largest groups of alternatives are notinvestments themselves but methods of trading – via hedge funds, special algorithms, insights and high frequency procedures. Ideally these work whether or not the underlying market is moving up or down.
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Our purpose in this paper is to conduct an in-depth examination of the historical record of ILS investing and to reflect on the implications for future risk and returns.
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One month to the official end of the hurricane season (November 30) shows the distinct possibility of a “loss-free” catastrophe year. It’s not over ‘til it’s over, or the fat lady sings, but so far so good. US wind losses are the lowest since 2006. And, as our title reversing of the old English proverb indicates, a quiet season has benefited a lot of people.
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