Practical analysis for investment professionals

Drivers of Value


What Is Your Belief System?

If you can isolate the beliefs that are truly influential in your professional work, you can improve your success rate significantly, says Jim Ware, CFA. Ask yourself, “What do I believe is true? And how does this affect my decisions and behavior?”

Investing Lessons from Epictetus: Focus on What You Can Control

The Stoic philosopher Epictetus has something to teach the investment profession, says Mimmi Kheddache Jendeby.

Shiller vs. Siegel: Is the Stock Market Overvalued?

Is the stock market overvalued? That depends on who you ask. Nobel laureate Robert J. Shiller says "yes," while Jeremy Siegel says "no."

Women and Millennials: What Do They Want?

Knowing our clients is the best way to retain them, especially when it comes to women and millennials, who together represent over 60% of the adult population, says Barbara Stewart, CFA.

Differentiate Yourself: Building a Client-Oriented Culture

What do you need to do to survive in the wealth management industry today? Two words: Differentiate yourself. That was the message delivered by Isaac Presley, CFA, Blair duQuesnay, CFA, and John T. Elmes II, CFA, during a discussion on building a client-oriented culture at the 70th CFA Institute Annual Conference in Philadelphia.

How to Manage Clients’ Emotional Reactions to Market Stress

Identifying a client’s emotional profile and understanding how those emotions influence financial decisions can help advisers keep the client on course through difficult times.

Top Five Articles from May: Behavioral Finance, Blockchain, and ESG

Jason Voss, CFA, and C. Thomas Howard recommend replacing modern portfolio theory (MPT) with behavioral finance and dismantling the finance industry's closet indexing factory; Larry Cao, CFA, helps to define blockchain; Mark Harrison, CFA, considers issues of performance measurement in factor investing; and Christopher K. Merker, PhD, CFA, looks at the rising tide of environmental, social, and governance (ESG) investing, in the top Enterprising Investor posts from May.

C. Thomas Howard: “View the Markets as They Are”

C. Thomas Howard, an opponent of the efficient markets hypothesis, advocates for a radical departure from the idea of diversification at the core of a healthy portfolio.

Artificial Intelligence for Investing

Being able to analyze more information with greater intelligence than what is humanly possible is a structural change in an investment industry well equipped for innovation, says Andrew Dassori.

Where Markets Fail: Markets Are Not Systemic

Markets are usually not systemic. Instead, from the bird’s-eye perspective of "Capitalism," many businesses are "opportunities" in the same way that it feels good to hit yourself in the head with a hammer: It's much better once you stop.



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