David Larrabee, CFA, was director of member and corporate products at CFA Institute and served as the subject matter expert in portfolio management and equity investments. Previously, he spent two decades in the asset management industry as a portfolio manager and analyst. He holds a BA in economics from Colgate University and an MBA in finance from Fordham University. Topical Expertise: Equity Investments · Portfolio Management
Critics of former U.S. Federal Reserve Chairman Alan Greenspan’s tenure at the Fed — there’s no shortage — may well consider his bullish call on stocks a contrary indicator.
Despite their public perception problem, hedge funds are critical providers of liquidity to markets, according to Sebastian Mallaby.
Economist David Hale told delegates at the 65th CFA Institute Annual Conference that steady increases in exports and capital spending, combined with favorable demographics, will allow emerging market… READ MORE ›
Frontier markets are often thought of as inhospitable investing outposts where corruption abounds and investors face outsized risks. Notwithstanding, the safety and integrity of frontier markets has greatly improved over the past decade, and their growing popularity with professional investors is testament to the fact that the risk-adjusted returns offered by frontier markets are indeed attractive.
Support within the SEC for money market fund reform remains uncertain, and the reforms could very well be doomed if they don't win over a majority of the five commissioners. That is, unless the Financial Stability Oversight Council, a creation of the bureaucratic behemoth known as the 2010 Dodd-Frank Act, steps in. Politics may soon dominate the debate.
Global equity markets posted solid, and in some cases spectacular, gains in the first quarter of 2012. Investor euphoria was short-lived, however, as focus in recent weeks has turned to renewed fears about the sovereign debt crisis in Europe. And in the United States, the Federal Reserve has indicated that further quantitative easing (jet fuel for equity markets) may not be necessary.
Despite some hand-wringing over China’s ability to orchestrate a soft landing, a successful near-term resolution to the Greek debt crisis and signs of continued economic improvement in the United States have helped to keep global equity markets firmly in the black for the year.
The $2.7 trillion U.S. money market fund industry, which greases the wheels of industry while offering institutional and individual investors a vehicle for cash management and savings, is being targeted for regulatory reforms designed to make it more transparent and less risky. But critics argue that adoption of the proposed changes may trigger unintended consequences with far-reaching effects.
Risk on! This has been the investor battle cry since stocks bottomed out in the fall of 2011, and global equities have been on a tear ever since, with many major indices rallying 20% or more. Investors seem to be discounting signs of a resurgent U.S. economy, indications that the crisis in Europe may be contained, and a soft landing in China. Or maybe they are just fed up with the paltry yields offered by bonds.
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