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Nuclear Conflict: Why We Must Consider the Risks

In the wake of Russia’s attack on Ukraine, the risks of nuclear conflict have become clearer both inside and outside the world of finance.

The Next 75 Years: Will Generalists or Specialists Prevail?

To generalize or specialize? Seventy-five years after CFA Institute was established, how should investment professionals and aspiring investment professionals approach the choice?

DeFi-ing the Rules: Five Opportunities and Five Risks of Decentralized Finance

Campbell Harvey explains why DeFi has such transformative potential.

How Sharp Is the Sharpe Ratio? An Analysis of Global Stock Indices

To test the Sharpe Ratio’s effectiveness, we constructed monthly return distributions for global stock market indices to see if any had too much skewness.

Extremely Successful? Extremely Lucky!

What's more critical to investing success: luck or skill?

Stakeholder Engagement in Company Decisions: Lessons from the German Corporate Governance Model

Summary of a CFA Institute webinar focused on employee co-determination, which is a practice that is required by law in Germany.

Renewable Energy Funds: Through a Gender Lens

As ESG investing continues to grow, applying a gender lens to public equity funds focused on climate solutions is critical.

Tell Me a Story: Aswath Damodaran on Valuing Young Companies

When valuing companies, "You don't have to be right to make money," Aswath Damodaran says. "You just have to be less wrong than everybody else.”

Building a CAPM That Works: What It Means for Today’s Markets

The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.

Scenario Planning and Net-Zero

When it comes to the net-zero transition, energy investors must consider various outcomes since the outcomes are, well, so various.