Dermot Dorgan

Articles from Dermot Dorgan

  • In or Out? Don't just shake your portfolio about

    What are the economic implications, potential market impact, and consequences for UK pension schemes of Brexit? In my previous post, I discussed the timeline for Brexit, should it happen, and split it into three periods: pre-referendum, post-referendum negotiations and post-negotiations. The purpose of establishing these divisions was to emphasize that leaving the EU would not elicit an immediate step-change for the UK economy. The change would be gradual and the economy would behave differently in each period. With that in mind, let’s consider (briefly!) the economic impli ... ..read more
  • A Short Guide to Leaving the EU (Brexit)

    Unless you have been living on Mars for the last few months... In a cave, with your eyes shut, and your fingers in your ears... It will have come to your attention that there will soon be a referendum on these shores. Depending on your political hue, this referendum is one of two things: An opportunity for the United Kingdom to unshackle itself from an ossified bureaucracy, to protect its borders, and to finally Make Britain Great Again. Or… A grave threat to the prosperity of the British people, which has been seized upon by political opportunists for personal ... ..read more
  • LIABILITY HEDGING IN A RISING RATE ENVIRONMENT

    In our previous RedBlog post, my colleague Dan discussed how to incorporate expected rate rises into the liability hedging decision. In this piece I offer an alternative perspective on yields and liability hedging. A Little Background Over the last few years, many investors have delayed hedging as they believed that benchmark yields would increase, meaning that hedging would be cheaper later. These increases were expected as a result of the end of quantitative easing and central banks raising their historically low policy rates. It has been a long wait. Today, unemployment is c ... ..read more
  • FOUR WORDS TO HELP YOU BUILD A FOUR HOUR WORKWEEK

    Tim Ferriss has enjoyed a cult following since publishing the “Four Hour Workweek” in 2007. Ostensibly, Ferriss’ book helps readers to pack in their 9-5, outsource all their quotidian responsibilities and instead, join the “New Rich” travelling the world, fulfilling their dreams. One could be forgiven for dismissing the book as a tacky, get-rich-quick scheme. The title alone makes the book sound like an infomercial. Look beyond the marketing, however, and you will find a new perspective on time management and productivity. Ferriss combines established id ... ..read more
  • THE IMPORTANCE OF COMMUNICATION IN MANAGING PENSION FUND RISKS

    One of the core responsibilities of a pensions investment consultant is to educate trustees about the unique risks that liability-targeting investors face, and to keep them informed about changes in the economic and regulatory environment. When done effectively this allows both trustees and consultants to see the fund’s current position from the same perspective, and acts as the foundation for subsequent decisions.   The process of educating trustees is an example of what I believe to be the key issue in pensions: communication between trustees and their consultants. Eve ... ..read more
  • WAITING FOR RATES TO RISE

    Waiting for Godot begins with our protagonists Vladimir and Estragon bickering by a tree. Soon Estragon stands up and peruses the barren landscape:   Estragon: Charming spot. Inspiring prospects. Let’s go. Vladimir: We can’t. Estragon: Why not? Vladimir: We’re waiting for Godot.   Just before the end of Act 1 a boy appears. After establishing that the boy works for Mr. Godot, Vladimir finally encourages the boy to deliver his message: “Mr. Godot told me to tell you he won’t come this evening but surely tomorrow.”   Surely tomorro ... ..read more

Dermot holds a BSc in Economics and Finance from University College Dublin and an MSc in Economics and Finance from The University of Bath. He enjoys reading, playing the piano, going to the gym, and is a passionate Leinster Rugby fan.
 
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