Climate Change, Risk Management, and the Freedom to Invest Responsibly
CFA Institute
AUGUST 23, 2023
The freedom to invest responsibly and the principle of risk management must be defended, and that requires us to go back to basics.…
Economics Performance Measuring Risk Management 
Economic Value of Equity (EVE): Protection from Rising Interest Rates
CFA Institute
JULY 7, 2022
Economic value of equity (EVE) can help determine how well a company can weather interest rate hikes.
Economics 
131
131 Join 39,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Webinars
Live Demo - Supercharge your Month End Close
Doing More With Less: The Modern Finance Miracle
The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It
From Curiosity to Competitive Edge: How Mid-Market CEOs Are Using AI to Scale Smarter
Protect What Matters: Rethinking Finance Ops In A Digital World
Trending Sources
Tariffs and Returns: Lessons from 150 Years of Market History
CFA Institute
MAY 21, 2025
He is also a professor of Finance at Erasmus University Rotterdam, where he teaches courses on behavioral finance and factor risk premia. Joshua Dekker is pursuing a double bachelor's degree in Business Economics and Econometrics at Erasmus University Rotterdam. in econometrics, and a bachelor's degree in economics.
Marketing 52
52 Webinars
Live Demo - Supercharge your Month End Close
Doing More With Less: The Modern Finance Miracle
The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It
From Curiosity to Competitive Edge: How Mid-Market CEOs Are Using AI to Scale Smarter
Protect What Matters: Rethinking Finance Ops In A Digital World
Escaping the Benchmark Trap: A Guide for Smarter Investing
CFA Institute
NOVEMBER 6, 2024
He specializes in low-volatility investing, asset pricing, and quantitative finance and is the author of numerous academic research papers for the Journal of Financial Economics , Management Science , Financial Analyst Journal , and the Journal of Portfolio Management.
Benchmarking 52
52 
PPM priorities and challenges for finance in Asia in 2025
Future CFO
MARCH 11, 2025
This evolution is particularly pronounced in Asia, driven by factors such as rapid economic growth, increasing regulatory complexity, and the accelerating pace of technological change. The role of the Chief Financial Officer (CFO) has undoubtedly moved outside the traditional accounting function and into a strategic leadership position.
Finance 52
52 
The Low-Volatility Factor and Occam’s Razor
CFA Institute
FEBRUARY 16, 2024
He specializes in low-volatility investing, asset pricing, and quantitative finance and is the author of numerous academic research papers for the Journal of Financial Economics , Management Science , Financial Analyst Journal , and the Journal of Portfolio Management.
Building a CAPM That Works: What It Means for Today’s Markets
CFA Institute
MAY 24, 2022
The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.
Marketing 139
139 
Factor Portfolios and Cap-Weighted Benchmarks: Bridging the Tracking Error Gap
CFA Institute
JULY 14, 2023
Can we retain the benefits and economically sound basis of a factor approach to equity investing while more closely aligning a factor portfolio’s performance to a cap-weighted benchmark?
Benchmarking 52
52 
Did Real Assets Provide an Inflation Hedge When Investors Needed it Most?
CFA Institute
FEBRUARY 6, 2025
He is a CFA charterholder and holds an MS in Applied Economics from Boston College. Fandetti’s research has been published in The Journal of Portfolio Management and The Journal of Alternative Investments.
Economics 52
52 
Climate Transition Risk in European Equity Markets
CFA Institute
MARCH 15, 2024
She received her doctoral degree (DBA) “Cum Laude” in Management and Technology in 2024 from Comillas Pontifical University in Spain with her thesis on “Measuring Climate Transition risk in the European Equity Market.” She earned a MSc in International Relations and Affairs from the London School of Economics in 2013.
Marketing 52
52 
Regret and Optimal Portfolio Allocations
CFA Institute
MAY 12, 2023
He was formally a member of the executive committee for the Defined Contribution Institutional Investment Association (DCIIA) and the ERISA Advisory Council (2018-2020).
Do Better ESG Ratings Boost Bond Holders?
CFA Institute
AUGUST 30, 2023
Brad Swanson is an impact fund manager at Developing World Markets and adjunct professor of finance at George Mason University with an MBA from Columbia University. He plans to study for a master's degree in finance or economics after graduation.
Economics 52
52 
What-if analysis or why is it important for good financial planning software?
Spreadym
MAY 10, 2023
It involves evaluating the impact of various "what-if" situations on financial flows projections, business performance measures, or outcomes. By doing so, you can assess how changes in these variables might impact investment performance and make more informed investment decisions.
The 60/40 Portfolio Needs an Alts Infusion
CFA Institute
DECEMBER 21, 2023
Godbersen holds a bachelor's of arts in economics from Whitman College. He and his team spearhead research projects and maintain EquityMultiple's resource center, a leading resource for self-directed investors looking to modernize their asset allocation strategy and learn more about commercial real estate.
Investments 52
52 
ESG-driven growth: Stakeholders have greater expectation but boards lack commitment
Future CFO
FEBRUARY 16, 2022
66% of leaders combined see the top two advantages to integrating ESG factors in their corporate strategy as first, long-term value through new ESG-driven products and services, and second, resilience to ESG risks. 83% of respondents said they would like mandatory reporting of ESG performance measures against global standards.
Quality of Earnings: A Critical Lens for Financial Analysts
CFA Institute
MARCH 26, 2025
Quality of Earnings: By approaching financials with this sharper lens, analysts can not only anticipate problems but also identify opportunities that align with long-term value creation.
How Sharp Is the Sharpe Ratio? An Analysis of Global Stock Indices
CFA Institute
JUNE 3, 2022
To test the Sharpe Ratio’s effectiveness, we constructed monthly return distributions for global stock market indices to see if any had too much skewness.
Construction 141
141 
Myth-Busting: Alts’ Uncorrelated Returns Diversify Portfolios
CFA Institute
DECEMBER 9, 2022
Do alternatives offer any diversification benefits?
Digital Gold or Fool’s Gold: Is Crypto Really a Hedge against Equity Risk?
CFA Institute
JULY 11, 2022
When it comes to hedging equity risk, bitcoin and cryptocurrencies are less "digital gold" and more fool's gold.
Tell Me a Story: Aswath Damodaran on Valuing Young Companies
CFA Institute
MAY 24, 2022
"You don't have to be right to make money [valuing companies]," Aswath Damodaran says. You just have to be less wrong than everybody else.”.
Equity Risk Premium Forum: Don’t Bet Against a Bubble
CFA Institute
APRIL 7, 2022
Cliff Asness, Rob Arnott, Roger G. Ibbotson, and other luminaries explore the nature of bubbles and the momentum factor.
Retirement Income: Six Strategies
CFA Institute
FEBRUARY 25, 2022
How can we mitigate sequence of returns risk (SoRR)?
When Hindsight Becomes Foresight: Replicating Investment Performance
CFA Institute
JULY 23, 2023
Nicolas Rabener is the managing director of Finominal, which provides quantitative solutions for factor investing. Previously he founded Jackdaw Capital, a quantitative investment manager focused on equity market neutral strategies.
Investments 52
52 
Portfolio Confidential: Five Common Client Concerns
CFA Institute
OCTOBER 8, 2023
Barbara Stewart, CFA, has 33 years of investment industry experience; five years as a foreign currency trader, more than two decades as a portfolio manager for high-net-worth entrepreneurs, and during the past eight years, as an interview-driven researcher for multiple global financial institutions.
Currencies 52
52 
Bad Ideas: Why Active Equity Funds Invest in Them and Five Ways to Avoid Them
CFA Institute
FEBRUARY 1, 2024
Rather the investment industry incentivizes them to manage business risk at the expense of long-term portfolio performance. Most active equity funds do not underperform for lack of stock-picking skill.
Investments 52
52 
How Do Cryptocurrencies Correlate with Traditional Asset Classes?
CFA Institute
NOVEMBER 16, 2022
The crypto market’s recent gyrations necessitate a fresh look at the evolving relationships between crypto and traditional asset classes.
Time-Varying Risk Premia: Cochrane’s “Discount Rates”
CFA Institute
MARCH 11, 2022
"Discount rates vary a lot more than we thought. Most of the puzzles and anomalies that we face amount to discount-rate variation we do not understand.".
Beyond Bank Runs: How Bank Liquidity Risks Shape Financial Stability
CFA Institute
FEBRUARY 12, 2025
For financial analysts, understanding bank liquidity risks is essential not just for assessing individual banks but also for evaluating broader market conditions.
Banking 52
52 
Top 10 Posts from 2023: The 10 Greatest Investors, ChatGPT, and the Active Management Delusion
CFA Institute
DECEMBER 26, 2023
Enterprising Investor's most popular posts of the year include contributions from Mark J. Higgins, CFA, CFP, Larry Cao, CFA, Michinori Kanokogi, CFA, and Yoshimasa Satoh, CFA, among others.
Equity Risk Premium Forum: Term Structure, Mean Reversion, and CAPE Reconsidered
CFA Institute
JULY 29, 2022
Does the equity risk premium (ERP) vary depending on the term structure? Does reversion to the mean dictate that it will decrease the longer the time horizon?
ESG (In)Efficiency
CFA Institute
DECEMBER 22, 2022
Passive ESG investing has become increasingly active. It’s time for a rethink.
Investments 135
135 
Asset Owner Perspectives: Building Investment Organizations Fit for the Future
CFA Institute
JUNE 17, 2022
How are asset owners thinking about and building their multi-generational, long-horizon portfolios?
Investments 128
128 
China’s Enterprise Annuities: “Long-Term Money, Short-Term Investment”
CFA Institute
MARCH 29, 2022
The operation of enterprise annuities in China suffers from a "long-term money, short-term investment" mindset.
Investments 128
128 
Equity Risk Premium Forum: The Deficient Market Hypothesis
CFA Institute
APRIL 29, 2022
"If we thought of the equity premium as a fear premium," Rob Arnott says, "a lot of the so-called anomalies that we’ve talked about would not be anomalies at all.".
Marketing 134
134 
Valuing Digital Assets with TradFi Tools: Three Methods
CFA Institute
OCTOBER 25, 2022
Not all traditional investment management techniques are applicable to digital assets, but sector breakdowns, DCF models, and risk factor modeling are solid starting points.
Investments 131
131 
Evaluating Benchmark Misfit Risk
CFA Institute
DECEMBER 19, 2022
How can we identify and measure a portfolio's benchmark misfit risk?
Benchmarking 131
131 
Presidential Election Cycle Theory: A Bullish 2023?
CFA Institute
FEBRUARY 14, 2023
What are the strengths, limitations, and nuances of presidential election cycle theory and what does the current political context foretell regarding whether 2023 will follow the predicted trend?
Rethinking Corporate FX Hedging: Seeing the Forest through the Trees
CFA Institute
SEPTEMBER 10, 2023
With 20 years of experience in international banking, Mohammad Ali Shaikh, CFA, is currently working on setting up a macro fund through Ilqa Investments, a firm he co-founded. Prior to moving to the buy-side, he held several senior positions at international banks, with his last role serving as head of rates and FX, ICG, MEA, at Deutsche Bank.
Banking 52
52 
Myron Scholes on Black–Scholes, Decarbonization, AI, and Parenting
CFA Institute
AUGUST 28, 2023
"If life were unchanging, then options would not be as valuable, but life is always changing, which makes options and the ability to deal with uncertainties very precious." — Myron Scholes
Rethinking Retirement Planning Outcome Metrics
CFA Institute
APRIL 10, 2023
Retirement, like life, is fundamentally uncertain. That's why we need to provide clients with more context about what missing their retirement-income goals might look like.
Planning 130
130 
Redefining the Retirement Income Goal
CFA Institute
FEBRUARY 9, 2023
Spending flexibility must be better incorporated into the tools and outcomes metrics with which financial advisers advise clients.
On Investment Objectives and Risks, Clear Communication Is Key, Part 3
CFA Institute
FEBRUARY 23, 2022
Portfolio Pi and Portfolio Eta are new decision metrics that connect investment objectives and risks.
Communication 122
122 
On Investment Objectives and Risks, Clear Communication Is Key, Part 2
CFA Institute
JANUARY 25, 2022
Standard deviation fails to characterize risk in a way that matters to most investors.
Communication 122
122 
Diversity and Investment Performance: What Trade-Off?
CFA Institute
DECEMBER 30, 2022
Is there a trade-off between diversity and investment performance?
Investments 128
128 
Let's personalize your content