Practical analysis for investment professionals

CFA Institute Conferences

The New Global Financial Order: Three Perspectives on Investing

India recently played host to a CFA Institute investment conference in Mumbai, in partnership with the Indian Association of Investment Professionals and the country's National Institute of Securities Markets. The event featured three internationally renowned speakers who presentations on the challenges of investing are highly relevant to investment practitioners everywhere.

Small-Cap Investing: More of an Art than a Science

“Successful investing requires both art and science,” said Preston Athey, CFA, a 34-year veteran of T. Rowe Price. “When T. Rowe Price was founded back in 1937, Mr. Price always considered investing an art, and in fact, he often considered it a black art.”

Damodaran’s 10 Rules for Addressing Uncertainty in Investment Valuations

Human bias, complexity, and uncertainty are amongst the biggest obstacles investors face when it comes to investment valuation, and Aswath Damodaran recently offered some practical guidance on responding to the uncertainties commonly faced when deriving the intrinsic value of a stock.

How Many of Our Successes and Failures Should Be Attributed to Luck?

How many stock pickers who outperform this year will beat a dart board next year? The answer depends upon whether luck or skill had more to do with their results.

Tools for Handling the Psychology of Family Governance and Intergenerational Wealth Transfer

Money and stress often go hand-in-hand, and advisers are often called upon to help couples and families navigate the thorny emotions surrounding personal finances and wealth transfer

Asness: Shiller P/E is Signaling Risk of Another Lost Decade for US Stocks

With the Shiller P/E for the S&P 500 currently standing at a 21.5 (approximately 30% higher than its long-term average), many value investors, including Cliff Asness of AQR Capital Management, have adopted a cautious stance toward US stocks.

The Next US President and His Geopolitical Challenges

Willis Sparks, an analyst in the global macro practice at Eurasia Group, a global political risk research and consulting firm, recently laid out some of the political fault lines that will shape politics and international finance in the coming years.

James Grant: “Interest Rates Have Fallen, and They Can’t Get Up”

Bond market maven James Grant gives a “cook’s tour” of the “reigning errors and foibles” that are being made in today’s bond markets and that have led us astray in committing capital.

Robert Merton: A New Approach for Macrofinancial Risks

Nobel laureate Robert C. Merton challenged traditional models used by investors to measure sovereign and financial system credit risk and instead proposes an alternative framework.

Is There a Bubble in High-Yield Bonds? No!

Martin Fridson, CFA, lays out — and dismantles — some typical arguments pundits have recently used to call the high-yield market a bubble.

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