STEPHEN CRANSTON: Unlike your selfies, these Selfies will look good in a decade or two
A new class of bonds is generating excitement at the level of returns it promises
The word “selfie” was the Oxford English Dictionary’s new word of the year in 2013, and other languages have adopted le selfie and der selfie.
Self-portraits have been around for several milliennia, and the first photographic self-portrait was taken in 1839 by Robert Cornelius. But now people do not even need to buy a camera, as it is embedded into their smartphones. Only actuaries could turn the concept of selfies into something a lot less fun. Selfies is the name of a new class of bonds. And only an actuary could learn to love its full name, which is “standard of living indexed, forward-starting, income only securities”.