Practical analysis for investment professionals

Standards, Ethics & Regulations (SER)


Take 15: Valuation: Lessons Learned from the Crisis

Steven J. Sherman discusses the role of the International Valuation Standards Council and how it differs from that of the accounting standard setters. Mr. Sherman also provides his thoughts on the large number of restatements by public companies in recent years due to valuation issues.

The Consequences of Insider Trading: A Cautionary Tale

Who says that one bad apple doesn’t spoil the whole bunch? Just ask FrontPoint Partners who saw its assets under management decline with breathtaking speed—dropping by $6 billion in eight months—after one of the firm’s portfolio managers was caught… READ MORE ›

Book Reviews: Swindlers

Effective 1 January 2011, the International Financial Reporting Standards (IFRS) became mandatory for Canadian public companies. Proponents of IFRS adoption argued that it would enhance global comparability of financial statements. The authors of Swindlers: Cons & Cheats and How to Protect Your Investments from Them argue, on the contrary, that “differences in laws, regulations, taxes, cultures, education, ethics, training, traditions, enforcement, and optimism make uniformity an opium dream.”

Take 15: Ethics in Investment Management

Industry expert Marianne M. Jennings discusses the ethical issues present in the financial crisis including the seven signs of ethical collapse, cross-cultural differences in ethics, and what universities can do to promote ethical behavior.

Warren Buffett Shows His Hand

When Warren Buffett recently disclosed a 5.4% position in International Business Machines (IBM), it took almost everyone by surprise. How did the Oracle of Omaha manage to build a $10.7 billion position in the technology bellwether over the course… READ MORE ›

The Ethical Lessons of Rogue Trading

As Albert Einstein famously said, “Insanity is doing the same thing over and over and expecting a different result.” This quote comes to mind in the wake of the drama that has unfolded at UBS, where 31-year-old trader Kweku… READ MORE ›

Is It Déjà Vu All Over Again?

The Wall Street Journal has published a number of articles about Groupon, the ecommerce internet company that is planning to go public. A July 28th article focused on Groupon’s use of a… READ MORE ›



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