About actuary Schmidt!

A movie about an actuary? Yes it's true! Nobody else than Jack Nicholson, alias insurance actuary Warren Schmidt, retires at age 66 in the movie "About Schmidt" (2002).



Plot summary
Schmidt retires from his actuary job at the Woodmen of the World insurance company in Omaha, and is given an impersonal retirement dinner at a local steakhouse. He visits his young successor's office to offer his help, but he is not needed. As Schmidt leaves the building, he sees the contents and files of his office in the basement, set out for garbage collectors.

Schmidt describes to his foster child Ndugu his longtime alienation from his wife, who suddenly dies after his retirement. His friends arrive for the funeral. His only daughter Jeannie and her fiancé Randall. Schmidt finds Randell, a water-bed salesman, mediocre and unsuited to his daughter.

Randall recommends the book "When Bad Things Happen to Good People" [not everything in your life has a purpose: Life(You) = God(You) + Randomness] by Harold Kushner to Schmidt.

Perhaps the opposite view from Kirzner [everything in your life has a purpose: Life(You) = God(You) ] of this book would have helped Schmidt more?

Already interested? Read more at Wikipedia or go and see the movie!

Conclusion
Just as Warren Schmidt, we actuaries want to make the difference in life. To do so we have to 'act' as non-conformists.

Economics: Playing with fire

Read this splendid article by Robert Clarkson.


He discusses the dangerous misuse of modern finance models that sparked the current worldwide credit crisis.

Much of the responsibility for the severity of the present worldwide credit crisis can be attributed to the unthinking use of dangerously unsound financial models by American and European banks.

In July 2008 Clarkson gave a corresponding presentation entitled “Actuarial insights into hedge fund management” at a conference on managing risk in hedge funds.

Some quotes:

• ADAM SMITH
  The chance of loss is by most men undervalued.
• WINSTON CHURCHILL
  The further you look back in history, the further you can look forward.

Enjoy!

Make the world a little better......

The next German (Bayer) advertorial for an actuary, just touches what a lot of Actuaries actually drives: Make the world a little better.

It's wonderful symbolized in two 'peaceful' Indian-like scars on the face.


Lars Achtruth, Datenanalyst bei Bayer, verfolgt täglich ein Ziel: Die Welt ein bisschen besser zu machen. Diese Leidenschaft ist es, die uns verbindet und uns die Suche nach dem Neuen niemals aufgeben lässt. Wir nennen es den Bayer-Spirit. Wenn auch Sie ihn spüren, ist es höchste Zeit, zu uns zu kommen.

Compliments Bayer!

Look it up if it's still actual: Versicherungsmathematiker (m/w)