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Counting the Cost of Capital and Seeding Network-Based Accounting

CFA Institute

Cost of capital is a tenuous concept. Charlie Munger amusingly calls it a “perfectly amazing mental malfunction.”.

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The End of Accounting? Sustaining Financial Reporting

CFA Institute

The explanatory power of the financial information reported to investors for market valuation has plummeted in recent decades.

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A Framework to Drive ESG Financial Discipline

CFA Institute

A focus on intangible value creation can bring more financial discipline to ESG investments.

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Refreshing Revenue, the Cash Conversion Cycle, and Free Cash Flow

CFA Institute

GAAP sometimes misrepresents business reality. We can use that fact to generate some alpha.

GAAP 52
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James H. Freis, Jr., CFA: The Rise and Fall of Wirecard

CFA Institute

A key lesson from the "Enron of Germany": If you see something, say something.

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How Alpha Hides in GAAP Accounting: Return on Equity

CFA Institute

You can find significant alpha in the mechanics that drive GAAP accounting.

GAAP 52
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Impact-Weighted Accounting: The Missing Ingredient?

CFA Institute

Can Impact-Weighted Accounting (IWA) help unlock ESG Alpha for investors?