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  • Book Review: Expectations Investing | CFA Institute Enterprising Investor

    Book Review: Expectations Investing | CFA Institute Enterprising Investor

    Expectations Investing: Reading Stock Prices for Better Returns. 2021 – Revised and Updated. Michael J. Mauboussin and Alfred Rappaport. Expectations Investing: Reading Stock Prices for Better Returns represents an important resource for practitioners seeking an insightful alternative approach to identifying discrepancies between price and value. This volume is a revised and updated version of the […] More

  • The S-Curve: Bending the J-Curve in Private Equity

    The S-Curve: Bending the J-Curve in Private Equity

    The J-curve narrative in private equity (PE) investments has accompanied the growth of private markets up to the present. That narrative deserves a quiet obsolescence. Here’s why. The J-Curve Private market funds tend not to be invested all up front. Rather investors contractually agree to supply the necessary capital to the investment manager, over time […] More

  • Fama and French: The Five-Factor Model Revisited

    Fama and French: The Five-Factor Model Revisited

    Eugene F. Fama and Kenneth R. French introduced their three-factor model augmenting the capital asset pricing model (CAPM) nearly three decades ago. They proposed two factors in addition to CAPM to explain asset returns: small minus big (SMB), which represents the return spread between small- and large-cap stocks, and high minus low (HML), which measures […] More

  • Progress in Economics | CFA Institute Enterprising Investor

    Progress in Economics | CFA Institute Enterprising Investor

    Economics is an endeavor where progress can feel awfully slow. In the hard sciences — physics, chemistry, biology, and the like — experiments and data can and do settle debates once and for all. But in economics and finance, theories often linger on for decades even as the empirical evidence against them piles up year […] More

  • Women and Investing: Six Questions Answered

    Women and Investing: Six Questions Answered

    The following is adapted from the “Women and Finance: The 2022 Rich Thinking Quantitative Survey Findings” report by Barbara Stewart, CFA, and Duncan Stewart CFA. Given all the changes in investing behavior I was seeing as I conducted my interviews over the past couple of years, I wanted to ask six questions and measure how […] More

  • How to Master Social Media: Five Tips for Writing Well

    How to Master Social Media: Five Tips for Writing Well

    As the most followed CFA charterholder on LinkedIn, Eric Sim, CFA, has expertly leveraged social media to connect with other professionals, build his personal brand, and advance his career. In the How to Master Social Media series, adapted from his recent book Small Actions: Leading Your Career to Big Success, Sim shares some critical lessons on how to […] More

  • Book Review: Undiversified | CFA Institute Enterprising Investor

    Book Review: Undiversified | CFA Institute Enterprising Investor

    Undiversified: The Big Gender Short in Investment Management. 2021. Ellen Carr and Katrina Dudley, CFA. Columbia University Press. Columbia Business School Publishing. The authors astutely grab their title from a core principle of investing — diversification. Readers immediately think of the consequences of undiversified investment portfolios and quickly get the drift of the authors’ discussions […] More

  • Top 10 Posts from 2021: The Buffett Indicator, GameStop, Inflation!

    Top 10 Posts from 2021: The Buffett Indicator, GameStop, Inflation!

    Posted In: Best Of, Careers, Coronavirus, Drivers of Value, Economics, Equity Investments, History & Geopolitics, Leadership, Management & Communication Skills, Performance Measurement & Evaluation, Philosophy, Portfolio Management, Risk Management, Standards, Ethics & Regulations (SER) 1. The Buffett Indicator Revisited: Market Cap-to-GDP and Valuations How useful is the Buffett Indicator really? Navin Vohra, CFA, shares his […] More