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Ethical Dilemmas for Investment Advisers: Global Webinar Series Offers Framework for Thinking Ethically

More than 1,100 people from 84 countries have participated in “Ethics Connection: A Webinar on Ethical Decision Making” since its introduction last year.  CFA Institute has held the free, highly interactive,read more…

Institutional Investors: What Is Their Role as Owners of Public Companies?

There is a lot of buzz around the topic of institutional investor engagement in Asia. 

A recent blog post on shareholder engagement highlights global trends in board–shareowner engagement. The blog post also raises an important question:read more…

IORP II Directive: Additional Protection for Occupational Pensions Holders

The 2003 directive on Institutions for Occupational Retirement Provision (IORPs) introduced minimum common rules for workplace pension funds in Europe. The rules were indeed minimal and had an enabling purpose:read more…

The Fascination and Frustration of India: Five Insightful Books

For many investors, no market in the world holds more fascination or frustration than India. In 2013, among the BRIC and other Asian countries, only China added more new dollar millionaires than India.read more…

What Makes a Great Trader? An Interview with Jack Schwager

If you peruse the Wikipedia entries that describe some of the world's great investors, you'll often find that they share a common footnote: a series of books entitled "The Market Wizards" which feature Jack Schwager's profiles of a number of successful traders. read more…

An Important Report on Middle Eastern High-Net-Worth Individuals

At the Middle East Investment Conference, Khaled Sifri, CEO, Emirates Investment Bank, provided unique transparency into Gulf Cooperation Council (GCC) high-net-worth individuals. His understanding came from his organization’s recent survey and recently published report on the topic.read more…

CFA Institute Chairs SEC Investor Advisory Committee

Kurt Schacht, CFA, managing director of the Standards and Financial Market Integrity division at CFA Institute, has been elected to serve as chair of the U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee.read more…

New GIPS® Standards Compliance Requirement: Make Your Voice Heard

The Global Investment Performance Standards (GIPS®) are a voluntary set of standards based on the fundamental principles of fair representation and full disclosure of performance results that were created to provide an ethical framework for the calculation and presentation of the investment performance history of an investment management firm.read more…

Don’t Forget Diversification

Diversification is one of the most fundamental yet misunderstood concepts in investment management. I will begin with a basic and hopefully intuitive discussion of the principles of diversification and the mechanics by which it works.read more…

The Turkish Economy Has Survived Crises Before, Elections are Key to Investor Confidence

Turkey, a member of the G-20 and one of the largest emerging markets, has been making headlines recently for its economic and political turmoil. To get a local perspective on the situation, we spoke with Attila Koksal,read more…

Poll: Does High-Frequency Trading Do More Harm Than Good?

High-frequency trading (HFT) accounts for more than half of equity trades in the United States and represents a growing share of traded volume in Europe and Asia. Although there is no sole definition of HFT,read more…

EU Roadmap for Long-Term Financing: What Does It Mean for Investors?

The European Commission recently unveiled its roadmap to improve the long-term financing of the European economy, which many see as a sort of “legacy agenda” for the next legislature, after elections take place in May.read more…

Why China Has Superseded the United States: A Society Becomes Rich from Investment, Not from Consumption

Marc Faber, editor and publisher of the Gloom, Boom & Doom Report, shared his views as to why the United States has been superseded by the “New World” at this week’s Middle East Investment Conference. read more…

A President’s View of the Art of Negotiation

It isn’t often that you get a chance to listen to a former president discuss the art of negotiation, and it is rarer still that you learn negotiating secrets from a leader whose peace treaty helped to end an intractable conflict and garnered him a Nobel Peace Prize nomination.read more…

Islamic Finance Should Contribute More to Sustainable Economic Development: Volker Nienhaus

There is much potential for Islamic finance to promote sustainable economic development through such approaches as widening access to finance (including microfinance), financing infrastructure projects,read more…

Skills That Separate You as an Investment Manager: Introspection

While I have written advice on how to become a research analyst before, I have not talked about the skills that truly separate you from the crowd once you have your coveted research analyst position. Having hired research analyst interns,read more…

Financial Markets and the Natural Environment: An Economic Perspective

What are the different environmental assets in which investors can invest? A new short book, Environmental Markets: A New Asset Class, answers this question and explains the role of markets in reducing pollution and environmental degradation,read more…

Modern Finance Is Seeing Historic Levels of Speculation

Why study financial history? For historical context that helps to make sense of the current world. 

Not surprisingly, the 2008–2009 global financial crisis sent many financial professionals looking to history for a sense of appropriate context and perspective to understand the magnitude of such a catastrophic financial shock.read more…

The Price of Growth: Toxic Smog in China and Elsewhere

When asked at the recent National People’s Congress if he wore a mask on hazy days in Beijing, Huang Jiefu, a well-known surgeon and former deputy minister of health replied: “No, I don’t. Average masks are ineffective against PM2.5.” Unfortunately,read more…

Khaled Sifri’s Insights into Regional Private Wealth and Investment Banking

As CEO of Emirates Investment Bank, Khaled Sifri serves the interests of high-net-worth clients and identifies investment banking opportunities. In the case of Middle East Investors, he often finds these two aspects of the business overlap.read more…

Debating Michael Lewis’ “Flash Boys”: High-Frequency Trading Not All Bad

Kudos to Michael Lewis for bringing the complicated world of high-frequency trading to the public consciousness with publication of his book Flash Boys: A Wall Street Revolt . There’s no little irony in Lewis succeeding in inspiring a lot of interest in the technology-laden darker corners of the capital markets by focusing on some of the people involved and their back stories.read more…

“Better Finance”: More Investor Protection Could Aid Financial Stability in Europe

Five years since the start of the financial and economic crisis, the European Union is only now finalising the long-announced reforms of its legislative framework in the field of investor protection. As the European legislature comes to a close,read more…

Book Review: Systemic Risk: The Dynamics of Modern Financial Systems

“Who knew high-frequency trading was such a sexy subject? Certainly not Michael Lewis, who says he didn’t anticipate the level of blowback to Flash Boys.” So begins a Bloomberg Businessweek article on the response to Lewis’s latest book,read more…

Poll: Is the Annexation of Crimea the Beginning of a Campaign by Russia to Reestablish the Former USSR’s Borders?

Nearly 50% of our 882 poll respondents believe that the Russian annexation of Crimea could signal the beginning of a campaign to reestablish the borders of the former Soviet Union, reflecting significant anxiety about,read more…

Corp Gov Roundup: Comply-or-Explain Principles, Corp Gov Roadmap, Clawback Bonuses

It’s time to span the corporate governance globe to review important developments from the month of March. Topics include the development of a corporate governance roadmap in Indonesia, the presentation of the country’s first national corporate governance code in Japan,read more…

Dual-Class Shares: From Google to Alibaba, Is It a Troubling Trend for Investors?

In March, mainland Chinese company Alibaba finally announced that it would be listing its much-anticipated IPO in New York rather than in Hong Kong. This has left regulators in Hong Kong revisiting their stance on a one-share,read more…

The Public Pension Funding Gap: Highlights from the Future of Finance Forum

Retirement security is a key area of focus for the Future of Finance initiative at CFA institute, and on 18 March 2014, we hosted “The US Public Pension Funding Crisis,” an online forum featuring a panel of experts with varied backgrounds and perspectives,read more…

The Orderly Resolution of Failing Banks: EU Policymakers Strike Compromise

After months of technical and political discussions, a  compromise deal that should enable the orderly resolution of a bank, at least in theory, within 48 hours or a weekend has been reached in the European Union.read more…

Informing the “Favored Few”: The Muddy Waters of “Material Nonpublic Information”

My personal investment decisions do not move the markets. No one but my wife cares about what stock I’m about to buy or sell. But that is not the case with the investment plans of large activist hedge funds,read more…

Debt and Equity Crowdfunding: CFA Institute Offers Regulatory Blueprint for Europe

To coincide with the European Commission’s communication on crowdfunding, CFA Institute has released a blueprint for the sound regulation of investment-geared crowdfunding in Europe. 

In Sourcing Equity and Debt Funding from the Crowd:read more…

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