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From the Editor

Karen Eilers Lahey

I am delighted to tell you that three of the articles that are being published in this issue are
recipients of the paper awards given for manuscripts presented at the 1998Academy of
Financial Servicesannual meeting. The first award is provided byThe Association of
Individual Investors and is given to Dale Domian, David A. Louton, and Charles E.
Mossman for their presentation entitled, “The Rise and Fall of the ‘Dogs of the Dow.’” They
provide an explanation of why this simple decision rule for investing in the Dow stocks
originally worked and no longer is successful.

The second award is provided by theAmerican College and the recipients are Chris
Robinson and Elton G. McGoun for their presentation entitled, “The Sociology of Personal
Finance.” This theoretical piece discusses how individuals view the subject of money and the
rational behavior assumption that underlies the finance discipline’s view of personal and
corporate finance. Hopefully, it will provide you with a fresh look at this important question.

The third award is provided byTexas Instrumentsand the winners are Yoonkyung Yuh,
Sherman Hanna, and Catherine Phillips Montalto. Their presentation is entitled, “Mean and
Pessimistic Projections of Retirement Adequacy.” They use available data to analyze house-
hold financial preparation for retirement using a ratio of projected wealth and a pessimistic
projection. The fourth article is written by William Reichenstein and is entitled, “Calculating
A Family’s Asset Mix.” He examines the question of the appropriateness of including the
ownership of a mortgaged home as an asset. This paper compliments the presentation by
Yuh, Hanna, and Montalto which looks at retirement adequacy that includes home ownership
with and without a mortgage

The last article is entitled, “Credit Union Structure: An Examination of Potential Risks.”
In it, Robert J. Boldin, Keith Leggett and Robert Strand, examine the risk faced by
individuals who place their savings in credit unions.

Financial Services Review 7 (1998) v

1057-0810/98/$ – see front matter © 1998 Elsevier Science Inc. All rights reserved.
PII: S1057-0810(99)00002-5