Rick Sias, Tyler Family Endowed Chair in Finance and professor of Finance, Scott Cederburg, Sheafe/Neill/Estes Fellow in Finance and associate professor of Finance and Aizhan Anarkulova, Finance Ph.D. student, had their research, The Future Looks Gloomy for Retirees—If You Look Closely at Financial History, featured on Barron’s and MarketWatch.
The research states that when thinking about planning for retirement, we should all take a look at history.
Sias, Cederburg and Anarkulova compared the U.S. economy to Japan’s saying it would be a “nightmare scenario if the U.S. stock market over the next three decades performed as poorly as the Japanese market over the last three decades.”
“It was not at all clear that the U.S. economy over the subsequent three decades would far outperform Japan’s,” says Sias. “Indeed, there were many at the time who predicted just the opposite, that Japan was on its way to world domination.”
Cederburg is an Associate Professor of Finance and the Sheafe/Neill/Estes Fellow in Finance at Eller College of Management. He earned his PhD in Finance from the University of Iowa. His research focuses on issues related to long-horizon investment outcomes and retirement security, return predictability, and mutual fund performance. His studies have been published in top academic journals, including the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, and the Review of Finance. He won the 2018 TIAA Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security for his study, "Tax Uncertainty and Retirement Savings Diversification," and his work has been covered by The Wall Street Journal, Bloomberg, Forbes, and Consumer Reports, among other outlets.
Sias has been with the Eller College of Management since 2011. Before joining Eller, he was a professor at Washington State University. His areas of expertise include investments, asset pricing, investor behavior and valuation.