CFA

The golden age of fixed income is over. The days when investors could rely on traditional bonds as safe, income-producing securities that hedge equity risk and deliver returns that keep…

Smart(er) Investing: How Academic Insights Propel the Savvy Investor. 2019. Elisabetta Basilico, PhD, CFA, and Tommi Johnsen, PhD, Palgrave Macmillan. Editor’s Note: The reviewer and the primary author of the…

Long or Short Volatility? I once worked as an equity derivatives intern at Credit Suisse First Boston in London. As at other investment banks, the team had three distinct types…

Accounting decisions involve significant judgment. After all, US GAAP gives firms the discretion to choose among alternative accounting methods when it comes to inventory valuation, depreciation calculation, derivative accounting, etc….

The US Department of Labor’s recent actions have cast a spotlight on the curious logic underpinning the case for environmental, social, and governance (ESG) investing. More than 8,700 commenters wrote…

In his introduction to Let’s All Learn How to Fish . . . to Sustain Long-Term Economic Growth by Michael S. Falk, CFA, Laurence B. Siegel observes that economics is…

It is sometimes quipped that Europe is built on crises. And, yes, the COVID-19 pandemic, following on the heels of Brexit, proved powerful enough to break the taboo on the…

Roberto Campos Neto, CFA, became governor of the Central Bank of Brazil (BCB) in February 2019. Understandably, his tenure has been defined by the coronavirus pandemic and the bank’s response…

Gold is perhaps the world’s oldest store of value still in widespread use. Yet it is impossible to determine its intrinsic value. Why? Since gold doesn’t generate any income, it…

Just days after the release of the Edelman Trust Barometer titled “Declaring Information Bankruptcy,” Wall Street experienced an information crisis firsthand, courtesy of Reddit and GameStop. The wild January ride…