Valuation DB Pensions. Con Keating TUC conference, London, 2013 [email protected] Valuation is a Dark Art Comparison of Current and Possible Methods. An accurate and unbiased approach The method. Start with the primary fair value condition
price signal from noise
with GDP growth out to about five years
efficient resource allocation equilibria.
income dominates and volatility declines.
correlated with GDP growth
moves converge to the long-term
fundamentals and allocative efficiency
both have the same maturity, but they were issued with different terms and conditions