Leadership and Crisis
With many firms in transition and under stress, some managers face the ultimate test of their leadership skills. What works best? To find out, CFA Magazine talked with practitioners and academics around the world.
Download: Leadership and Crisis 2009 Nov-Dec CFA Mag – 107 KB
Hur Kyung-Wook, CFA, talks about the South Korean recovery and how lessons learned from the 1997 Asian financial crisis helped the country deal with recent events.
Hur Kyung-Wook, CFA, is a busy man these days.
As vice minister of strategy and finance for the Republic of Korea, Hur has travelled the globe in 2009, helping to stabilize the international financial crisis. Representing Korea at meetings of the International Monetary Fund, the Inter-American Development Bank in Colombia, and the ASEAN Plus Three in Thailand, he has worked to strengthen fiscal coordination and has shared the insights that have positioned Korea as one of the first economies to enter a recovery. For the second quarter of 2009, the country’s GDP grew 2.3 percent on a quarter-on-quarter basis.
Download: Korea Success 2009 Sept-Oct CFA Mag – 192KB
Fears about capital preservation have made offshore investing a popular option. But the rules of the game are changing.
Once upon a time, moving money offshore was no big deal for a person of means. Simply wire funds to a Swiss bank or Cayman trust and watch your money disappear into the black hole of state-sanctioned bank confidentiality. But those days are over.
Download: Outward Bound 2009 Jul-Aug CFA Mag – 211KB
CAREER STRATEGIES FOR A DOWNTURN – For those seeking new employment in the current environment, a strategic, proactive approach can improve the odds of success. (Download 219KB)
The tectonic plates of the FINANCIAL LANDSCAPE are shifting under our feet. Where are the major fault lines, and what will be left standing?
The lure of starting your own firm includes the ability to set your own hours, the freedom to work with the clients you select rather than those assigned to you, an opportunity to manage wealth as you believe it should be managed, and a chance to earn more money and build equity in your own business. No doubt, independence has its benefits even firms managing a relatively small amount of assets under management can compensate their owners generously and offer a better work–life balance. But going independent is a major step that requires an examination of one’s skills and temperament, adequate financial resources, and a sound business plan. No guarantees of success exist, and the dream of achieving a more balanced life can vanish with 70-hour work weeks in the early years.
Think you’re ready to join the growing number of advisers starting their own firms? Make sure you consider all the angles.
Investors are going beyond emerging markets and blazing new trails. What are the potential risks and rewards? - Who would invest in Lebanon, which seems perpetually on the brink of civil war? What about Vietnam, where stocks have shown they can plunge 60 percent in mere months?
Roundtable discussions among experts find consensus on major trends shaping the investment industry. Four years from now, will the investment world look measurably different from the way it looks now, and if so, how? To address this two-part question, CFA Institute convened three panels of about a dozen practitioners drawn from diverse industry specialties. The advisory sessions—held in New York, London, and Hong Kong—elicited opinions about the trends that are shaping the investment industry and professional firms, the demands being made of investment professionals, and the role CFA Institute should play in the industry between now and 2012.
How well can we read our emotions? How well do we manage them? New research focuses on the emotional drivers of investor behavior. A growing body of research suggests that investment decisions are heavily informed by emotions, which can be measured, analyzed, and perhaps incorporated into predictive models. This article looks at three concepts — emotional intelligence, emotional accounting, and emotional finance — that involve the impact of emotion on investor behavior. The development of each concept draws on decades of research and applies it to the field of finance, and all may be catalysts for further research.
PORTFOLIO MANAGERS SPEND THE BULK OF THEIR TIME DEVELOPING their buy discipline, and as a result, their sell discipline, if it should be called a “discipline,” often evolves haphazardly. Few, however, would ever admit it. “Everyone has what sounds like a very well thought out sell discipline, one that leaves emotions out of the equation,” says Michael Ervolini, founder and CEO of Boston-based Cabot Research. “Yet, much of what makes up their decisions represents something other than hard, measured fact.”
If this talk of a green tech (or clean tech or enviro tech) boom has a familiar ring, that’s because we’ve been here before—twice. Salad Days
Independent research is in a difficult spot, but some players still have a shot at success
Will global markets feel the heat from the U.S. subprime conflagration? “This could be a major event,” says one expert.
The tectonic plates of the financial landscape we thought we knew are shifting under our feet. Global finance will never be the same after this crisis. The financial leadership of the United States is being challenged, capitalism is under assault, industry structures are realigning, and (all agree) more regulation is coming.
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