Posts tagged 'CFA'

It’s that time of year again: the sun is shining and thousands of CFA candidates are stuck inside

With less than a month to go, several of this blogger’s mental faculties seem to have gone offline. In the space that previously housed “fear of public failure,” new tenants have arrived in the form of after-tax return equations, biases that impact investment decisions, and a multitude of currency hedging strategies.

Ego defenses down, FT Alphaville would like to draw your attention to a brilliant post by the people at the 300 hours. It’s entitled “Sh*t People Say (to CFA candidates)”. Tl;dr version available to the right.

Drumroll… Read more

EMH – The Dead Parrot of Finance

Europe’s top strategist has weighed into the debate about efficient markets.

Soc Gen’s James Montier wants Efficient Markets Hypothesis (EMH) and all its offshoots consigned to the dustbin of history before they inflict any more damage on investors. Read more

Cert FA – an access problem at the Institute

Does this look familiar? If so you were probably trying to access your Level II and III CFA exam results online on Tuesday.

1733.jpg Read more

So, sell the buy and buy the sell

Here’s something a bit counter-intuitive: sell-side analysts tend to more accurate and less optimistic than their counterparts on the buy sell side according to a trio of Harvard Business School academics published in the July/August edition of the CFA Institute Financial Analysts Journal.

While Boris Groysberg, Paul Healy, and Craig Chapman examined data from the buy-side at just one US investment firm – comparing this with publicly available data on US sell-side analysts – the gap was clear. Read more

So if Taleb is so clever….

The FT’s “The Short View” columnist John Authers is blogging for FT Alphaville from Vancouver at the annual gathering of the CFA Institute:

John AuthersNassim Nicholas Taleb ended his speech by predicting that he already knew what the questions would be. And he indeed had a slide ready for the most popular question which was: “If you’re so clever, now that you’ve scared us so much, tell us what we should do to guard against black swans in future?” Read more

Seeing the Black Swans coming

The FT’s “The Short View” columnist John Authers is blogging for FT Alphaville from Vancouver at the annual gathering of the CFA Institute:

John AuthersNassim Nicholas Taleb is about to address the massed ranks of the CFA Institute, but it seems plenty of them already know that the market is not totally efficient. Read more