Top 10 Posts from 2018: Chart Crimes, Political Divides, AI, and the Skill Ratio

By Paul McCaffrey

Posted In: Alternative Investments, Behavioral Finance, Best Of, Careers, Drivers of Value, Economics, Future States, History & Geopolitics, Leadership, Management & Communication Skills, Performance Measurement & Evaluation, Philosophy, Portfolio Management, Quantitative Methods, Standards, Ethics & Regulations (SER)

1. The Seven Kinds of Asset Owner Institutions

There’s never been a better time to be an end investor. Thomas Brigandi and Sloane Ortel explore the seven kinds of asset owner organizations that are shaping the market.

2. Red States, Blue States: Two Economies, One Nation

Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries, writes Joachim Klement, CFA.

3. Who Cares (About ESG) Wins: Asset Owners Step Up

If there were any doubt as to ESG’s efficacy in portfolio management, recent efforts by some of the world’s largest asset owners may finally put the question to rest, write Thomas Brigandi, Paul Kovarsky, CFA, and Paul McCaffrey.

4. Daniel Kahneman: Four Keys to Better Decision Making

“Regret is probably the greatest enemy of good decision making in personal finance,” Daniel Kahneman says. Paul McCaffrey discusses this and other insights from Kahneman’s presentation at the 71st CFA Institute Annual Conference.

5. 18 Chart Crimes and Misdemeanors

Truth is relative, falsehoods are seductive, and shortcuts are commonplace. Chart crimes are a clear manifestation of this, says Sloane Ortel.

6. Tips for Aspiring Portfolio Managers

What makes a good fund manager? A willingness to learn, from your own success and failures, but also from the wisdom of those who came before you, writes Clare Flynn Levy.

7. How to See the Hidden Risks of ETFs

Exchange-traded funds (ETFs) are a great way to fulfill client objectives, but they also create a handful of opportunities to miss the mark. So advisers need to be vigilant, say Antonella Puca, CFA, CIPM, CPA, Paul Kovarsky, CFA, and Sloane Ortel.

8. Artificial Intelligence, Machine Learning, and Deep Learning: A Primer

We are witnessing the beginning of the artificial intelligence (AI) era. So what do investment managers need to know about AI, deep learning, and machine learning? Larry Cao, CFA, weighs in.

9. Portfolio Managers, Artificial Intelligence Is Coming for Your Jobs

Artificial intelligence (AI) is coming to the investment world. Given AI’s superior computing power and lack of behavioral biases, some in the investment industry and academic circles believe it will come to dominate the sector, says Larry Cao, CFA.

10. Skill Ratio: A New Measure for the (Lack of) Persistence in Active Management

Daniel Blais, CFA, introduces a new metric to help identify and differentiate those investment managers who achieve alpha through skill and those who generate it by luck.

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All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

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About the Author(s)

Paul McCaffrey

Paul McCaffrey was formerly the editor of Enterprising Investor at CFA Institute. Prior to that role, he served as an editor at the H.W. Wilson Company. His writing has appeared in Financial Planning and On Wall Street, among other publications. He is a graduate of Vassar College and the Craig Newmark Graduate School of Journalism at CUNY.