Joachim Klement, CFA, is a trustee of the CFA Institute Research Foundation and offers regular commentary at Klement on Investing. Previously, he was CIO at Wellershoff & Partners Ltd., and before that, head of the UBS Wealth Management Strategic Research team and head of equity strategy for UBS Wealth Management. Klement studied mathematics and physics at the Swiss Federal Institute of Technology (ETH), Zurich, Switzerland, and Madrid, Spain, and graduated with a master’s degree in mathematics. In addition, he holds a master’s degree in economics and finance.
In today's bull market, the bezzle, or "inventory of undiscovered embezzlements," isn't stocked with Ponzi schemes and the like. Rather it is built on the notion that risky assets have become practically risk-free.
A survey that fails to address several key issues has obliged the European Commission to postpone a review of the revised Markets in Financial Instruments Directive, sources say. The survey "didn't provide any ideas or solutions, and it's not relevant to the problems the industry faces," one source says. Practice Insight (16 Jan.)
The UK Financial Conduct Authority and the Bank of England have announced a series of deadlines for Libor phaseout. The first deadline is March 2, when users and issuers of derivatives should shift to the Sterling Overnight Index Average. Pensions & Investments (free access for SmartBrief readers) (16 Jan.)
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.