Practical analysis for investment professionals

Derivatives


Jack L. Treynor and the Birth of the Quants

Imagine for a moment an investment world without the accomplishments of Jack L. Treynor. In this imaginary Treynor-less world, mass casino psychology and fund manager guru-worship might rule, unchallenged by any metrics other than crude popularity and marketing spend.

Meditation for Investment Professionals

Science demonstrates that meditation reduces stress, improves creativity, counteracts behavioral biases, and improves ethical decision making. It can be an incredibly useful tool for investment professionals.

Book Review: Trend Following with Managed Futures

Investors are warming to price-based investment strategies, even though trend following has often been associated with “noise” traders and theoretical technical analysis.

Managed Futures: Will They Thrive with Higher Interest Rates?

One asset class that has historically thrived in chaotic and crisis environments is managed futures, says Jeannette Showalter, CFA. Might they be the answer for investors looking to hedge against volatile equity markets and a potential secular bear market for bonds?

Building a Better Risk Model

When Ignacio Ruiz and his associates, Piero Del Boca and Ricardo Pachón, looked at the current models for directional-way risk, they found that the models were impossible to calibrate. So, they set about creating their own model.

Book Review: Advanced Equity Derivatives

Sébastien Bossu reviews important concepts and recent developments in option pricing and modeling, including the latest generation of equity derivatives: volatility and correlation derivatives. Readers should have some familiarity with basic equity derivatives pricing and advanced mathematics because this book references the Black–Scholes model and other formulas for exotics.

Margin of Safety: The Lost Art

Despite history's greatest investors — Benjamin Graham, Warren Buffett, Bruce Berkowitz, Seth Klarman — stressing the importance of the "margin of safety," it remains a lost art.

Corneille, Sperna Weiland, and Zürcher Win European QuantAwards 2014

It is our pleasure to introduce to CFA Institute readers the results of the European QuantAwards 2014 competition. We hope you enjoy the summaries of these three winning papers by their student authors, René-Jean Corneille, Rob Sperna Weiland, and Ulrik Zürcher.

Skills That Separate You as an Investment Manager: Curiosity

Curiosity is one of the critical skills leading to investment management success.

Book Review: Encyclopedia of Finance

This book is a valuable resource for those in need of a quick definition or formula as well as a vehicle for those wishing to dig more deeply into any of a wide range of topics.



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