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Book Review: Behavioral Risk Management

The author proposes debiasing techniques that can improve the practice of operational risk management by countering behavioral biases.

The Makings of a Financial Crisis

Four tools may frame the analysis required to evaluate the likelihood of an impending crisis and that may provide us with a heads up before a financial crisis occurs.

ESG: The X-Ray of Finance

Rising interest rates will make environmental, social, and governance (ESG) factors one of the most important sources of alpha for investment managers, according to Omar Selim.

Best of 2017: Top Stories for Investors

Jason Voss, CFA, unveils his choices for investor stories of the year. The winner is a presentation about the oddities of exchange-traded funds (ETFs) that have gone unnoticed by investors and their advisers.

European Commission Expert Group Report on Corporate Bond Market Liquidity

Although recent European Commission report on corporate bonds is welcome, CFA Institute believes it missed an opportunity to emphasize other recommendations for improving demand for corporate bonds.

Pakistan: The Growing Pains of an Emerging Market

The key dilemmas facing Pakistan’s equity market — a small investor base, few new listings on the Pakistan Stock Exchange (PSX), and shrinking turnover — are tied to the lack of trust among investors and issuers as well as unnecessary compliance and tax burdens. It will take greater professionalism among the intermediaries and the rationalization of compliance and taxation by regulators and tax authorities to realize the market's potential.

Good Financial Adviser/Bad Financial Adviser

Inspired by a Ben Horowitz essay, Isaac Presley, CFA, sets out to define what differentiates the good financial advisers from the bad ones.

Ethics in Practice: Taking Care of Clients Is the Priority. Case for Week of 11 Dec.

Some advisers are very close to their clients, following all the big events in their lives and keeping their investments updated. If they know them so well, does it matter when paperwork gets updated?

US Corporate Tax Cuts: Two Boogeymen to Keep in Mind

The yet-to-be-completed US tax bill reducing the corporate tax rate from 35% to 20% and encouraging the repatriation of earnings is generally seen by investors as a positive development. But investors should be mindful of several resulting tax consequences that may decrease valuations and corporate earnings once the bill is enacted.

Ethics in Practice: Futures, Feed Yards, and Furtive Actions. Case for Week of 4 Dec.

Ethical dilemmas come up in all different types of situations. This week's case looks at the manager-employee relationship and what responsibilities lie with each party, including the company.