The evolution of Eastman Kodak Company’s pension investment program from the inception of its pension plan in 1928 through 2004. The author, Russell L. (“Rusty”) Olson, a consultant on institutional investing, retired in 2000 as director of pension investments, worldwide, for Eastman Kodak Company. Olson had overseen Kodak’s pension funds since 1972. Over the 1980s and 1990s (and through 2004) Kodak’s pension fund was one of the best performing pension funds in the United States. Kodak made contributions to its pension fund in only two of the 22 years, 1983-2004, and it is one of the best-funded corporate pension plans in the country.
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“...It should be read by anyone managing assets in a fiduciary capacity.” --Michael Clowes, Pension & Investments Magazine
"This book is a marvelous retrospective, which vividly illustrates...how performance can be achieved despite real-world constraints." --Robert D. Arnott, chairman, Research Affiliates, and editor, Financial Analysts Journal.
“...Olson candidly and clearly summarizes 30 years of active participation with good results in innovations in institutional investing..." --Charles D. Ellis, chairman, Yale Corporation Investment Committee
"This book is a marvelous retrospective, which vividly illustrates...how performance can be achieved despite real-world constraints." --Robert D. Arnott, chairman, Research Affiliates, and editor, Financial Analysts Journal.
“...Olson candidly and clearly summarizes 30 years of active participation with good results in innovations in institutional investing..." --Charles D. Ellis, chairman, Yale Corporation Investment Committee
About the Author
For more than 30 years Rusty Olson has also worked with a range of endowment funds. He was named one of America’s nine best pension officers by Institutional Investor magazine in 1987 and was Investment Management Institute’s first “Plan Sponsor of the Year” in 1993.
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5.0 out of 5 stars
From the Trenches,
By
This review is from: The School of Hard Knocks: The Evolution of Pension Investing at Eastman Kodak (Paperback)
Rusty Olson's book on his years at Eastman Kodak is a good complement to his "how to" books. It is fascinating to read his discussion of pension investment history at Kodak and - by extension - throughout the US institutional investment world. I would strongly recommend the book to institutional investors.
4.0 out of 5 stars
Great Intro to Institutional Investing,
This review is from: The School of Hard Knocks: The Evolution of Pension Investing at Eastman Kodak (Paperback)
For anyone who manages or is interested in managing large sums of money for pensions, trusts, endowments, etc., Russell Olson paints a clear, introductory overview of the various investment opportunties that firms should consider when diversifying their portfolios. He discusses several classes of investments from index funds, cash equivalents, common stocks, fixed income, real estate, venture capital, market-neutral (hedge) funds, and several others. You're not going to learn how to start your own fund, but you will get an idea of how to diversify an institutional portfolio among various investment classes. You'll get some insight into the politics involved in institutional investment (e.g. dealing w/ investment committes), investment manager tracking strategies (to properly evaluate your portfolio), and long-term investing (coming to terms w/ the fact that you're not going to beat the S&P every year). Mr. Olson also speaks about pension payouts and a few things to consider from that perspective (like insurance, bulk payments, etc.). Highly recommended for beginners or intermediates (as an overview) in this area.
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Inside This Book
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First Sentence:
In 1912 Kodak founder George Eastman startled American industry by introducing an annual wage dividend for employees, with the amount tied by some formula to the dividends paid to shareholders. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Boston Safe, Value Line, Gene Radford, John Casey, Bob Sherman, Efficient Frontier, Harry Kavetas, Morgan Guaranty, Walter Fallon, Duff Lewis, John Purves, Lincoln First, Operation Sweep, Paul Smith, Primecap Fund, University of Rochester, Windsor Fund, New York City, Peter Lynch, Roy Neuberger, Wall Street, Advisory Opinion, Bankers Trust, Don Fewster, Emerging Markets Management New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
In 1912 Kodak founder George Eastman startled American industry by introducing an annual wage dividend for employees, with the amount tied by some formula to the dividends paid to shareholders. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Boston Safe, Value Line, Gene Radford, John Casey, Bob Sherman, Efficient Frontier, Harry Kavetas, Morgan Guaranty, Walter Fallon, Duff Lewis, John Purves, Lincoln First, Operation Sweep, Paul Smith, Primecap Fund, University of Rochester, Windsor Fund, New York City, Peter Lynch, Roy Neuberger, Wall Street, Advisory Opinion, Bankers Trust, Don Fewster, Emerging Markets Management New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 4
books:
- George Eastman: A Biography by Elizabeth Brayer on page 1
- Aviation Century: The Early Years by Ron Dick in Front Matter
- The Handbook for Investment Committee Members: How to Make Prudent Investments for Your Organization (Wiley Finance) by Russell L. Olson in Front Matter
- The Independent Fiduciary: Investing for Pension Funds and Endowment Funds (Frontiers in Finance Series) by Russell L. Olson in Front Matter
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