Derivatives
"If life were unchanging, then options would not be as valuable, but life is always changing, which makes options and the ability to deal with uncertainties very precious." — Myron Scholes
Options trading's explicit costs have plummeted to near zero, but what about implied transaction costs?
In financial capitalism, wealth is transaction-based rather than operational.
What can options tell us about expectations and positioning ahead of the 2020 US election?
Do option-based strategies offer any value to investors?
What is the effect on portfolio returns when the commodity futures market as a whole is in backwardation or contango during recessions and during unexpected inflation?
Ron Rimkus, CFA, interviews Jaime Lazaro, CFA, CEO of BBVA Asset Management in Mexico City, for an insider's perspective on the evolution of capital markets in Mexico.
“Purposeful Capitalism” describes an evolution of capitalism wherein the investment industry becomes more professional, ethical, and client-centric. Lutfey Siddiqi, CFA, discusses this scenario in an interview with Robert Stammers, CFA.
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.
Rumors of active management's demise are greatly exaggerated, AthenaInvest's C. Thomas Howard tells Jason Voss, CFA, and he has the evidence to make his case and the tools to help change active management for the better.