Enterprising Investor
Practical analysis for investment professionals
Book Review: A Dollar for Fifty Cents

Closed-end funds have their place in a diversified portfolio, but investors shouldn't expect to make a quick buck.

Shifting Tides in Global Markets: The Reemergence of International Investing

With valuations stretched in the US, international markets are emerging as a compelling new source of growth.

Synthetic Risk Transfers Are the Talk of the Town. But Are They as Scary as They Look?

SRTs help banks free up capital, but growing use has raised concerns about rollover risk, investor concentration, and leverage.

How US State Capital Is Reshaping Strategic Supply Chains

US government equity is entering strategic supply chains. For investors, this is changing how risk, returns, and capital allocation are priced.

What Earnings Explain, and What They Don’t: Insights from 150 Years of Market Data

Earnings and stock prices move together long term, but shifts in their correlation offer little value for predicting future market returns.

Incentives Are Dangerously Aligned in Private Markets

Private markets increasingly resemble a speculative supply chain, where rational actors and aligned incentives quietly compound systemic risk.

AI in Finance: Changing Workflows, Growing Demand for Human Judgment

GenAI is transforming investment workflows, raising critical questions about human judgment, task design, and the future of the profession.

Top 10 Blogs of 2025: Insights on Market Cycles and Financial History
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The Enterprising Investor blogs that resonated most with readers in 2025 were those that used historical evidence to illuminate present-day dynamics.

Research and Policy Center Top 10 Publications from 2025

These popular publications from CFA Institute Research and Policy Center offer practical insight for leaders shaping investment decisions.

What Successful Investors Read: Book Recommendations from Professionals

The best investors read widely about people, systems, bias, and failure because investing is more than numbers.