Biography
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.
Instead of searching for firms with moats, we should be looking for those with market power.
The GameStop short sellers might have left the market. But don’t for a minute think they are licking their wounds in defeat.
Two critiques of environmental, social, and governance (ESG) investing have a truthiness quality to them.
Following analyst buy or sell recommendations isn’t going to lead to outperformance. Or is it?
Jerome Powell, Andrew Bailey, and Christine Lagarde shouldn't keep us up at night.
Should we ignore claims that one party or another is better for markets?
In economics and investing, some concepts have become indistinguishable from articles of faith.
Is it statistically significant? Yes. Does it matter? Probably not.
Joachim Klement, CFA, is confident of one post-pandemic forecast: Fewer things will change than we expect.
There may be no formal approach to stakeholder value maximization, but we all practice it in our daily lives.