"Discount rates vary a lot more than we thought. Most of the puzzles and anomalies that we face amount to discount-rate variation we do not understand."
What are two of the most important things an investor needs to do to succeed? Howard Marks, CFA, offered his perspective.
Kate Moore, chief equity strategist at BlackRock, thinks that the next six months should be a great opportunity for investment managers who can stay focused over the longer term.
At the core of the cryptocurrency craze is the fear of missing out (FOMO).
What were the articles of the year on Enterprising Investor? The 10 leading posts covered a broad spectrum of subjects, from interviewing and cover letter tips, to how to optimize decision making and better understand blockchain technology. They were authored by some of the most influential thinkers in finance, including Michael Batnick, CFA, and Ben Carlson, CFA, and together offer an illuminating view into the state of the investment profession in 2017.
Yesterday, Congress passed the tax reform bill that reduces the corporate tax rate from 35% to 21%. Tax law changes will make it into financial statements when they are signed by President Donald Trump. While the changes are not effective until 2018, they significantly impact estimates made in 2017 financial statements once the bill is signed.
The yet-to-be-completed US tax bill reducing the corporate tax rate from 35% to 20% and encouraging the repatriation of earnings is generally seen by investors as a positive development. But investors should be mindful of several resulting tax consequences that may decrease valuations and corporate earnings once the bill is enacted.
The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.
CFA Institute president and CEO Paul Smith, CFA, stood before a crowd of more than 1600 investment professionals from across the globe at the 70th CFA Institute Annual Conference in Philadelphia, and asked a critical question: “What is finance for?”
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.
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