CFA

Redefining Fixed Income | CFA Institute Enterprising Investor

November 23, 2023

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…

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Book Review: Smart(er) Investing | CFA Institute Enterprising Investor

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…

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Creating Anti-Fragile Portfolios | CFA Institute Enterprising Investor

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…

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Don’t Overlook Accounting Comparability | CFA Institute Enterprising Investor

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….

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The ESG Performance Paradox | CFA Institute Enterprising Investor

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…

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Michael S. Falk, CFA, on Safety Nets, Trampolines, and Opportunity Equality

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…

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Post–COVID-19 Europe: Three Scenarios | CFA Institute Enterprising Investor

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…

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Roberto Campos Neto, CFA, on COVID-19, ESG, and an Inclusive Recovery

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…

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Gold $3,000? | CFA Institute Enterprising Investor

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…

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Jon Stein, CFA, on GameStop and the Market’s Trust Crisis

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…

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