Practical analysis for investment professionals

Joachim Klement, CFA

20 Posts

Biography

Joachim Klement, CFA, is Head of Investment Research at Fidante Capital and a trustee of the CFA Institute Research Foundation. 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.

Author's Posts
It’s Getting Hot Out There: Investors Need to Pay Attention

As someone who worked directly with climate change data, Joachim Klement, CFA, can assure you: Climate change is real, and investors need to take it into account.

Waiter, Can We Have the Bill Please? Republican Tax Reform in One Chart

For everyone who has not read the Republican tax legislation in full, Joachim Klement, CFA, provides a concise summary of its costs and benefits in one chart.

US Tax Reform: “Voodoo Economics”

While Joachim Klement, CFA, has some sympathy for the proposals coming out of the White House and US Congress to cut corporate taxes despite the potentially negative long-term effects, he is less sanguine about their efforts to eliminate or reduce estate and individual income taxes.

US Tax Reform: Taking Care of Business

As 2017 enters its final quarter, the White House and US Congress are trying to tackle a key Republican pledge from the 2016 elections: comprehensive tax reform. A major aspect of the preliminary proposal: a reduction in corporate tax rates. Joachim Klement, CFA, explores the potential costs and benefits of such a policy in the first installment of his two-part analysis of US tax reform.

Corporate Taxes Matter, But Not in the Way You Think

The common assumption is that lower tax rates should increase corporate profits, share prices, investment, and consumption, and thus lift the entire economy. Unfortunately, this is not quite how it happens in the real world.

Politics Matters — Sometimes

Investors need to become experts in the rapid assessment of geopolitical events to be successful in the coming years.

Dumb Alpha: Dr. Quantlove or: How I Learned to Stop Worrying and Love the Stop Loss

Stop losses may not enhance returns, says Joachim Klement, CFA, but they enhance client well-being, and in the end, they may keep a client from selling what is otherwise a great long-term investment.

Dumb Alpha: Tactical Errors

If investors want to engage in tactical asset allocation, what would be the Dumb Alpha method of doing so? Joachim Klement, CFA, provides his advice.

Dumb Alpha: Do the Right Thing

One of the symptoms of middle age is that you start to give advice to younger people on what your experience has taught you about life. So Joachim Klement, CFA, puts his imaginary pipe into his mouth, adjusts his glasses, and explains why keeping it simple might be the most important "dumb alpha" lesson he has learned in his investing career.

Dumb Alpha: Don’t Just Do Something, Sit There!

Instead of being motivated by the rule “Don’t just sit there, do something,” investors might instead act based on the rule “Don’t just do something, sit there,” says Joachim Klement, CFA, in the latest edition of his Dumb Alpha series.



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