John P. Calamos, Sr., chairman, CEO, and co-chief investment officer at Calamos Investments, discusses the rise of the middle class in emerging markets and what investors in these markets should focus on.
This episode of the Take 15 Series was originally released on 8 August 2012.
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Michael McMillan, CFA, is director of Ethics Education at CFA Institute, where he was responsible for creating, sourcing, and developing educational content for CFA Institute members and investment professionals in the area of ethics and professional standards. Previously, he was a professor of accounting and finance at Johns Hopkins University’s Carey School of Business and George Washington University’s School of Business. Prior to his career in academia, McMillan was a securities analyst and portfolio manager at Bailard, Biehl, and Kaiser and at Merus Capital Management. He is a certified public accountant (CPA) and a chartered investment counselor (CIC). McMillan holds a BA from the University of Pennsylvania, an MBA from Stanford University, and a PhD in accounting and finance from George Washington University. Topical Expertise:Financial Statement Analysis · Standards, Ethics, and Regulations (SER)
Central counterparties need to work on implementing effective resolution regimes, and "authorities must take steps to ensure that CCPs do not themselves become a source of systemic risk," according to a Financial Stability Board discussion paper. The paper is open for comment until Feb. 1. Futures & Options World (subscription required) (15 Nov.)
UK Prime Minister Theresa May says that despite the resignation of two Cabinet ministers and vocal opposition from her party to a draft Brexit agreement, she is determined to "see this through." A change in course on Brexit would subject the country to "deep and grave uncertainty," she says. Politico (15 Nov.)
Libor is likely to be discontinued, and other benchmarks are available, but Libor alternatives aren't being written into financial contracts. Banks say there is too much uncertainty to reference alternative benchmarks, despite regulators' frustration the process is moving slowly. Practice Insight (15 Nov.)
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