"If life were unchanging, then options would not be as valuable, but life is always changing, which makes options and the ability to deal with uncertainties very precious." — Myron Scholes
"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." — Cliff Asness
The performance of alternative asset managers is encapsulated in the formula: Wealth = Controls + Economics. Here, we outline the economics component of the equation.
To generalize or specialize? Seventy-five years after CFA Institute was established, how should investment professionals and aspiring investment professionals approach the choice?
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