Markets assume a context entirely out of view of their participants, which can have deleterious effects for both suppliers and demanders, Jason Voss, CFA, observes in the latest installment of his Where Markets Fail series.
Has an employer's business practices ever created ethical concerns for you? Has it affected your career? CFA Institute Financial NewsBrief readers weighed in, and Julia VanDeren analyzes the surprising results.
The “invisible hand” of the free market can hurt as well as help participants. The authors, who are Nobel Prize–winning economists, argue that as long as there is profit to be made, sellers will exploit our psychological and behavioral weaknesses through manipulation and deception.
It's conceivable slavery made it into your clothing or perhaps even the circuits that you are using to read this. It shouldn't be that way. The case against slavery is about more than just morality. It’s about money and a material risk to a broad cross section of widely owned businesses that is underappreciated, potentially disastrous, and (in time) easily mitigated.
With social responsibility now firmly established across the financial services spectrum, Steve Lydenberg, CFA, sees the potential for responsible investing to go beyond mere product innovation and deliver fundamental changes to the operating norms of the global financial system.
Investment professionals across the globe need to take the long view and bend the arc of the future away from being self-focused and toward caring about others. And in so doing, we can create a force for good, says Daniel Goleman.
CFA Institute president and CEO Paul Smith, CFA, issued a rousing call for a more ethical and effective investment profession. He also laid out his vision of where he hopes to lead CFA Institute in the years ahead, offering a road map for how he intends to get there.
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.
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All 34 banks that underwent the Federal Reserve's annual stress test cleared the first round. "This year's results show that, even during a severe recession, our large banks would remain well-capitalized," Fed Governor Jerome Powell said. Bloomberg (22 Jun.)
The Alternative Reference Rates Committee, which is made up of major international banks, chose a Treasurys-backed repurchase agreement rate as an alternative to the London Interbank Offered Rate. "I am confident the new reference rate chosen today by the Alternative Reference Rates Committee is based on a deep and actively traded market and will be highly robust," said Jerome Powell of the Federal Reserve. Reuters (22 Jun.)
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