| Article ID: | iaor20061281 |
| Country: | South Africa |
| Volume: | 17 |
| Issue: | 1/2 |
| Start Page Number: | 29 |
| End Page Number: | 54 |
| Publication Date: | Jan 2001 |
| Journal: | Orion |
| Authors: | Thomson Rob |
| Keywords: | investment |
Financial economists and actuaries do not always talk the same language. One particular difference of concern to actuaries is the method of treatment (or non-treatment) of the liabilities of an investor in the portfolio selection problem. Another difference relates to the way in which liabilities are valued. In this paper, these differences are discussed and possible ways forward are suggested.