Enterprising Investor
Practical analysis for investment professionals

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

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.

Public Blockchain Settlement: From Pilot to Modernized Market Structure

Major financial institutions are advancing blockchain-based settlement, signaling gradual but meaningful change in market infrastructure.

Momentum Investing: A Stronger, More Resilient Framework for Long-Term Allocators

Momentum investing endures but smart construction, signal diversification, and risk management are essential for capturing its alpha.

The Growth Story Behind Insurance-Linked Securities

Investors are revisiting insurance-linked securities for yield, diversification, and resilience amid rising catastrophe risk.

AI in Investment Management: From Exuberance to Realism

AI offers real promise for investors, but reliability gaps and oversight needs mean its impact will be more measured than early hype suggests.