Practical analysis for investment professionals 
In the United States, state and local governments’ defined benefit pension plans are underfunded by more than $4 trillion, threatening the financial security of approximately 8 million retirees and 14 million workers, and taking a fiscal toll on states and municipalities. Read more
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Because of his track record in detecting the manipulation of financial results, Howard Schilit, CFA, has been called the Sherlock Holmes of accounting. Whereas most forensic accountants come in after the fact for the investigation and litigation, Schilit is the rare exception who comes in to detect accounting manipulation before it is widely discovered. Read more
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Top articles for the month of February featured recommended reading for career development, top anecdotal signs of a market bubble, and the seven abilities needed to effectively manage people. Read more
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There is a speculative froth building in US stocks that is hard to ignore these days. Facebook was motivated to pay $19 billion for mobile messaging firm WhatsApp in order to gain access to their reported 450 million user base rather than their meager revenue stream, estimated at $20 million in 2013. This brings to mind the price-to-eyeballs metric that was first popularized by then–Morgan Stanley analyst Mary Meeker during the dot-com boom of the late 90s. Read more
Leave a CommentScott M. Black, founder and president of Delphi Management, explains his style of value investing, skills needed for success, what the future may hold for active management, and tips on finding value in the art market. Read more
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Consultants Stuart H. Leckie and Rita Xiao, CFA, experts on China’s pension system, review the latest reforms and assess the challenges that lie ahead. Read more
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Activist investors have significantly raised their profiles in recent years. According to Activist Insight, there were 237 activist campaigns launched in 2013, up from less than 30 in 2000. And while activists used to fly mostly under the radar, many have now embraced new media platforms as a way to make their cases heard. Read more
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Is an analyst with prior industry experience more likely to be on target with his earnings forecasts and stand a better chance of being named to Institutional Investor magazine’s All-America Research Team? In a word, yes. At least that was the conclusion of a recently published study which examined the biographical data and earnings estimates of 2,590 analysts over a period of nearly three decades. Read more
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