Trading death: the implications of annuity replication for the annuity puzzle, arbitrage, speculation and portfolios

Annuities are perceived as being illiquid financial instruments, and this has limited their attractiveness to consumers and their inclusion in financial models. However, short positions in annuities can be replicated using life insurance and debt, permitting long positions in annuities to be offset, or short annuity positions to be created. The implications of this result for the annuity puzzle, arbitrage between the annuity and life insurance markets, and speculation on expected longevity are investigated. It is argued that annuity replication could help reduce the annuity puzzle, improve the price efficiency of annuity markets and promote the inclusion of annuities in household portfolios.

RST: Reuse through Speculation on Traces

In this thesis, we present a novel approach to combine both reuse and prediction of dynamic sequences of instructions called Reuse through Speculation on Traces (RST). Our technique allows the dynamic identification of instruction traces that are redundant or predictable, and the reuse (speculative or not) of these traces. RST addresses the issue, present on Dynamic Trace Memoization (DTM), of traces not being reused because some of their inputs are not ready for the reuse test. These traces were measured to be 69% of all reusable traces in previous studies. One of the main advantages of RST over just combining a value prediction technique with an unrelated reuse technique is that RST does not require extra tables to store the values to be predicted. Applying reuse and value prediction in unrelated mechanisms but at the same time may require a prohibitive amount of storage in tables. In RST, the values are already stored in the Trace Memoization Table, and there is no extra cost in reading them if compared with a non-speculative trace reuse technique. . The input context of each trace (the input values of all instructions in the trace) already stores the values for the reuse test, which may also be used for prediction. Our main contributions include: (i) a speculative trace reuse framework that can be adapted to different processor architectures; (ii) specification of the modifications in a superscalar, superpipelined processor in order to implement our mechanism; (iii) study of implementation issues related to this architecture; (iv) study of the performance limits of our technique; (v) a performance study of a realistic, constrained implementation of RST; and (vi) simulation tools that can be used in other studies which represent a superscalar, superpipelined processor in detail. In a constrained architecture with realistic confidence, our RST technique is able to achieve average speedups (harmonic means) of 1.29 over the baseline architecture without reuse and 1.09 over a non-speculative trace reuse technique (DTM).

A history of messianic speculation in Israel : from the 1st through the 17th centuries

by Abba Hillel Silver

A test of the Bolton-Scheinkman-Xiong hypothesis of how speculation affects the vesting time of options granted to directors

This paper investigates empirically the Bolton, Scheinkman, and Xiong (2006) hypothesis, according to which initial shareholders may provide incentives to managers to take actions that stimulate speculative bubbles. We test this hypothesis with data on up to 8,544 directors and up to 1,677 companies between 2004-2008. Using vesting time as a measure of the short-term performance weighting in CEO compensation and various alternative measures of the extent of speculation, the findings support the hypothesis: vesting time decreases with more intensive speculation. The results prove robust in various empirical model specifications.

Kundmachung: Da das auf den 16., 17. und 18. d. M. angekündigte Constitutions-Fest im Prater nur eine Privat-Speculation ...

Welsch (Projektbearbeiter): Verbot des für den 16., 17. und 18. Juli 1848 angekündigten Konstitutionsfestes im Prater

Speculation and the Chicago Board of Trade.

Mode of access: Internet.

The elements of speculation,

Mode of access: Internet.

The ABC of stock speculation,

Mode of access: Internet.

[Miscellaneous bulletins on speculation]

Mode of access: Internet.

[Miscellaneous bulletins on speculation in the grain trade]

Mode of access: Internet.

[Miscellaneous bulletins on speculation in wool]

Mode of access: Internet.

Speculation : a novel /

Wolff, R.L. 19th cent. fiction,

Humbugs of speculation: a satirical poem,

Mode of access: Internet.

Rambleton : a romance of fashionable life in New York during the great speculation of 1836.

Mode of access: Internet.