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I founded and co-founded a couple of companies: Redington and mallowstreet; now I have launched a global initiative, Partnership for Change, which is working to improve healthcare, long term care, pensions & savings and technology for a rapidly ageing population. I write about issues of the day that touch me and make me think. Mostly about how to make things better.

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Fire in the Galley

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A mate of mine is a captain on BA’s 747 fleet and he tells me a pilot’s worst nightmare is a fire of any sort. That’s because even a small one has the potential at 38,000 feet to spiral out of control faster than you might have thought. So if a fire does break out, the captain goes into autopilot and instinctively initiates a well rehearsed set of specific actions designed to save the aircraft and passengers.

These market conditions constitute a fire in the galley of your pension fund. You need to have a well-rehearsed plan for making sure you can bring the fire under control and limit the risk of destruction. What might such a game plan look like?

Well, for starters it doesn’t involve worshipping at the shrine of the LONG TERM STRATEGY and doing nothing. It DOES involve looking at the limited, but nonetheless very real, market opportunities and seizing the moment. After all, that’s what the pension plan members expect you to do.

 

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