Practical analysis for investment professionals

Martin Fridson, CFA

34 Posts

Biography

Martin Fridson, CFA, is, according to the New York Times, “one of Wall Street’s most thoughtful and perceptive analysts.” The Financial Management Association International named him its Financial Executive of the Year in 2002. In 2000, Fridson became the youngest person ever inducted into the Fixed Income Analysts Society Hall of Fame. He has been a guest lecturer at the graduate business schools of Babson, Columbia, Dartmouth, Duke, Fordham, Georgetown, Harvard, MIT, New York University, Notre Dame, Rutgers, and Wharton, as well as the Amsterdam Institute of Finance. Fridson's writings have been praised widely for their humor, rigor, and utility. He holds a BA in history from Harvard College and an MBA from Harvard Business School.

Author's Posts
Book Review: Better Bankers, Better Banks

Because they do not regard ethical failings in the financial industry as the actions of a few bad apples but, rather, as inevitable consequences of an unhealthy culture, the authors seek to restore the environment that existed before the major investment banks transformed themselves from partnerships into publicly traded corporations. The problems addressed in this book affect every participant in the financial system.

Book Review: Wall Street Wars

In its extensive recounting of financial misdeeds prior to the 1929 stock market crash, this fine work of popular financial history notes the parallels between recent events and the debates in the early 1930s over securities regulation and the subsequent enactment of landmark securities laws. Amid talk of the need to restore trust in the financial industry, the incidents recounted in the book suggest that restoration should apply only to firms that are worthy of trust and must come about through commitment to ethical practices, rather than public relations campaigns.

Book Review: Inside the Crystal Ball

This book is an invaluable resource for anyone striving for a command of the inner workings of the economy. The author details his impressively rigorous forecasting process, which draws on all major schools of macroeconomic thought. He also dives deep into the data to explain some of his expectations.

Book Review: Wall Street Research

The story of sell-side security analysis is still unfolding, but for an up-to-date account, this book serves the reader extremely well. The authors provide illuminating examples of recent innovations in the production and distribution of research and offer valuable insight by applying economic models in novel ways.

Book Review: Falling Short: The Coming Retirement Crisis and What to Do about It

Focusing on the defined contribution piece of the impending retirement crisis, the authors recommend several actions, including automatic enrollment in 401(k)s and the government’s shoring up Social Security. For employees, two key steps are to start saving early and to delay retirement. This book furnishes both the motivation and the know-how to help them succeed.

Book Review: GDP: A Brief But Affectionate History

Should anyone other than a statistician care about the fine points of calculating gross domestic product? In GDP: A Brief but Affectionate History, economist Diane Coyle offers a striking example of why investors and policymakers ought to pay closer attention.

Book Review: The Lunacy of Modern Finance Theory and Regulation

The author identifies some interesting conundrums related to financial theory and lodges a number of valid criticisms of financial industry practices. He also criticizes existing laws and rules because they did not prevent the global financial crisis of 2008–2009.

Book Review: Money

In this provocative book that sheds light on the recurring — and potentially worsening — financial crises since the beginning of the floating-exchange-rate era in 1973, the authors propose a solution that calls for a return to stable currencies through a new version of the gold standard embodied in a bill currently pending in the US Congress.

Book Review: In Bed with Wall Street

According to author Larry Doyle, the financial crisis of 2008–2009 was a failure of regulation and oversight, and he contends that the leaders of major institutions escaped retribution for irresponsible practices that helped cause the crisis. He calls for enhanced accountability and effectiveness in the regulatory arena.

Book Review: Inside the Yield Book: The Classic That Created the Science of Bond Analysis

The third edition of Inside the Yield Book builds on the previous editions with valuable insights into duration targeting. The authors convey their mathematically elegant findings with the same clarity and accessibility that characterized the writing of Leibowitz and Homer more than 40 years ago, before abstruse formulas began to permeate fixed-income analysis.



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