Institutional 
IPS

Pension Plan
AO / ALM

Endowment
Spending Rate

Life, non life
DB

Capital Market 
Expectations

(Economic / 

Equity )

Survivorship 
Bias / Regime 

Change / 
Appraisal data

PPP / Capital 

Flow
H-Model

Tobin's q

Cobb-Douglas 
GDP

H-Model
Yardeni Model

Fed Model

Leading cyclical 

indicators
Constant 

Growth 

Dividend 
discount