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The Actuary The magazine of the Institute & Faculty of Actuaries

Confidence intervals

The confidence boost attempted by some of the largest UK investors in 1974 was made in financial and economic conditions of extreme shock; inflation reaching 26%, gilt yields 18%, and equity yields 12%. To hope to be of some effect, the institutions no doubt reckoned that their voices would be heard with respect and trust, qualities which seem of the essence, overlaid by a unanimity of judgement at that moment.