The major structural shifts of the past decade caught most asset managers by surprise, but a few key trends may be signs of things to come.Download: Future of Asset Management – 2013 Jan-Feb
The Future of Asset Management
Overcoming Decision Fatigue
As the number of investment decisions increases, the quality of decision making deteriorates. What can be done?Download: Overcoming Decision Fatigue – 2012 Nov-Dec
Breaking down Breakouts
Emerging markets should be treated as individual entities, not blocks.
Searching for the next economic miracle stories, Ruchir Sharma delivers a whirlwind tour of the world’s emerging markets in his book Breakout Nations.Download: Breaking Down Breakouts CFM Sept-Oct 2012
Tilting at Alpha
Investing is an art and a science. We all know that. The science portion is fairly well understood. Models — discounted cash flow, Black-Scholes, Gordon growth, capital asset pricing — provide systematic support in a field that used to be governed almost entirely by intuition and “gut feel.” But where should we learn about the “art” of investing?Download: Tilting at Alpha – 2012 July-August
Market Drivers: Fundamentals vs. Technicals
Is the market driver by fundamental factors, technical factors, or a mix of both?Download: Market Drivers Fundamentals vs Techicals – 2012 May-June
Beyond Stock Picking
How and why the investment industry fails to give analysts proper training. Enabling skills must be mastered before a successful stock call can be made.Download: Beyond Stock Picking – 2012 March-April
A Pioneering Spirit
Renée Blasky, CFA, on investment prospects for East Africa. In this interview with CFA Magazine, Blasky discusses the challenges and opportunities of investing in East Africa and future prospects for growth and returns.Download: Pioneering Spirit – 2012 Jan-Feb
The Second Great Contraction
The exact timing of the financial crisis may have been unpredictable, but the trajectory of subsequent events has been entirely average and typical, says Kenneth Rogoff.
THREE YEARS AFTER THE GLOBAL FINANCIAL CRISIS, events are seeming eerily familiar to Kenneth Rogoff, co-author with Carmen Reinhart of the 2009 book This Time Is Different: Eight Centuries of Financial Folly. Historically, financial crises and their economic effects have tended to follow a similar pattern, and this one is no different, closely tracking the average for financial crises since 1945. In an interview with CFA Magazine, Rogoff, the Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University, explains his views on the predictability of crises and their aftermath, the likely time frame for recovery, why the current crisis might more accurately be called “the Second Great Contraction,” the link between debt burdens and growth, and the possible return of financial repression.Download: Second Great Contraction – 2011 Nov-Dec
Emerging Threat Funds
ETFs promise cheap diversification, liquidity, and perhaps unintended consequences for systemic risk.
IT’S BEEN A QUIET REVOLUTION BUT A REAL ONE. Exchange-traded funds (ETFs) have colonized pretty much every available niche in the investment world – frequently at the expense of traditional vehicles, such as mutual funds and hedge funds. And the land grab has apparently just begun. Which means it’s time to start thinking about unintended consequences.Download: Emerging Threat Funds – 2011 Sept-Oct
The investment industry is not equipped to understand the impact of global political instability, says one expert on political risk. What can investors do?Download: Politically Motivated – 2011 July-August