Eric Sim, CFA, and the Skills for Success

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Eric Sim, CFA

Focus and persistence have paid off for Eric Sim, CFA. After failing important exams in high school, he resolved to apply himself, turning that setback into a pivotal moment that transformed his life. From there, his career trajectory took him from working at his father’s noodle stall to offering corporate finance solutions in a top investment bank.

Not only does Sim hold an MSc degree in finance, but he also earned his CFA charter — a journey that is completed by fewer than one in five candidates. Read More

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Cryptocurrency Derivatives and the Future of Bitcoin

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Cryptocurrency Derivatives and the Future of Bitcoin

Last year saw a major change in the way that news outlets covered bitcoin and other cryptocurrencies. Though cryptocurrencies have generated outrageous headlines in the years since their initial introduction, 2017 marked a milestone in their transition from fringe investment to alternative asset.

Bitcoin derivatives, which would make the investment accessible to a broader pool of potential investors, have been under discussion since 2013. But regulatory approval has been difficult to obtain. Two exchanges in the United States, CBOE Global Markets and CME Group, received authorization and began listing bitcoin futures in December, and news outlets have been watching the settlements of those contracts closely to see what it could mean for bitcoin derivatives and for cryptocurrencies in general.

Previously, government regulators paid little attention to cryptocurrencies. A 2014 survey conducted by the US Law Library of Congress found that “only a very few” countries had specific regulations that applied to bitcoin. Recent moves suggest that governments are changing their stance and taking cryptocurrencies more seriously, especially as derivative products are explored in greater depth:

Regulatory scrutiny has triggered volatile moves in cryptocurrency prices, which were already renowned for their extreme fluctuations. In 2013, the price of a single bitcoin moved from $34 to $140 in one month. Four years later, the price of a single bitcoin soared from under $10,000 to more than $17,000 in the course of a week.

Volatility cuts both ways, and each discussion about a new high in the price of bitcoin is often followed by — or sometimes part of — a story about unprecedented price drops.

The broader family of cryptoassets, which includes cryptocurrencies like bitcoin, has been developing in new and unexpected ways. An analysis of cryptoassets in 2017 found that bitcoin was outperformed by 13 other entries, among them Ethereum, a currency on a blockchain-based platform for applications, and Ripple, which is intended as a new payment system for banks.

As more funds flow between these cryptoassets and the conventional financial system, investors will need to deepen their understanding of these innovations and develop strategies that take their influence into account.

Join us this May at the 71st CFA Institute Annual Conference in Hong Kong to learn more about cryptocurrencies and participate in the conversations that will guide and shape the future of global investing.


All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

Image credit: ©Getty Images/ RaStudio

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Time Is Running Out for the Early Registration Discount

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You can still save HK$1,550 on your registration for the 71st CFA Institute Annual Conference if you register by Sunday, 31 December.

The listed rate for the conference is HK$11,300, but CFA Institute members are eligible to receive a HK$2,300 discount. For a limited time, an additional discount is being offered to encourage delegates to register early.

The conference, which will be held in Hong Kong on 13–16 May 2018, is your chance to hear the perspectives and participate in the conversations that will guide and shape the future of global investing.

The full event details will be published in the weeks ahead, but early highlights include:

  • Ma Jun, special adviser to the Governor of the People’s Bank of China, discussing environmental, social, and governance (ESG) issues and China’s green finance initiatives.
  • Kathy M. Matsui, co-head of Asia Investment Research at Goldman Sachs, examining Abenomics and the economic outlook for Japan.
  • Jason Hsu, co-founder of Research Affiliates and adjunct professor in finance at the UCLA Anderson School of Management, leading a session on the performance of behavioral factors in emerging markets.
  • A panel of experts from leading global search firms discussing hiring trends and compensation in Asia asset management.

The 71st CFA Institute Annual Conference, hosted at the Hong Kong Convention and Exhibition Centre by The Hong Kong Society of Financial Analysts, is an opportunity to participate in the investment industry’s largest and longest-running educational gathering of investment professionals.

Explore global and regional financial trends, examine new investment opportunities and risks, and meet and network with investment peers from around the world — register now to attend this event.


All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

Image credit: CFA Institute

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These Are the Most Important Connections

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network concept

The most important connections in your network may not be the ones you think.

Economist and author Tim Harford has observed how professional connections can help with job searches, and it turns out that “the most irreplaceable social connections, paradoxically, are often rather weak or distant ones.” Read More

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Clients for Life: 7 Ways to Maintain Adviser Connections through Tough Times

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Clients for Life: 7 Ways to Maintain Adviser Connections through Tough Times

Research has found that up to 70% of widows will leave their investment advisers after the death of a spouse. Why does that happen?

Amy Florian, CEO of Corgenius and author of No Longer Awkward: Communicating with Clients through the Toughest Times of Life, asserts that clients leave because most advisers fail to maintain connections during times of adversity and do not know how to talk with clients about personal loss. Read More

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Frances Barney, CFA, on Tackling Enterprise Investment Risk Management

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The CFA Institute Annual Conference is an unrivaled opportunity to access high-quality, unbiased educational content that equips investment professionals with the latest thinking on critical industry issues. The 71st CFA Institute Annual Conference will be held in Hong Kong on 13–16 May 2018.

Frances_Barney

Written by Andrew C. Canter, CFA

Institutional investors face a unique challenge: If they must take risk to meet return requirements, then how can they measure that risk in a comprehensive manner? Integrated risk reporting and management quickly becomes complicated for institutional investors, given the lack of consistency in various systems and reports used by their underlying managers, funds, and investments.

At the 70th CFA Institute Annual Conference, Frances Barney, CFA, discussed how this challenge can be addressed through enterprise risk analysis. Barney, who is head of global risk solutions at BNY Mellon, gave a presentation on effective ways to review all of an investor’s assets for embedded investment risks. (However, this review would exclude normally non-investment risks, such as regulatory risk or longevity risk.)

Barney suggested a few different ways to approach enterprise risk analysis: Read More

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Seizing Opportunity in Philadelphia

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The CFA Institute Annual Conference is an unrivaled opportunity to access high-quality, unbiased educational content that equips investment professionals with the latest thinking on critical industry issues. The 71st CFA Institute Annual Conference will be held in Hong Kong on 13–16 May 2018.

CFAedge Exhibit Hall
By Oluwaseun Daniel Oyekanmi

There is a saying that “not all fingers are created equal,” and this is very true when it comes to opportunities. Some opportunities may be recaptured, while others are only for a set season — the latter are usually the ones that are life-changing. Some may call them destiny-defining moments, and others may call them opportunities of a lifetime, but one thing is certain: they greatly reward those who grab them. Read More

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Recovery or Expansion? A View of the US Economy

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At the 70th CFA Institute Annual Conference in Philadelphia, Goldman Sachs Senior Investment Strategist Abby Joseph Cohen, CFA, declared that the US economy is not just in recovery, it is now in an expansion. Growth, as always, has varied by sector, but Cohen saw room for optimism. From her perspective, the United States is looking far healthier than it did during the years in and around the 2008 financial crisis. Read More

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The Sharing Economy and the Evolution of Crowd-Based Capitalism

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The Sharing Economy and the Evolution of Capitalism

The CFA Institute Annual Conference is an unrivaled opportunity to access high-quality, unbiased educational content that equips investment professionals with the latest thinking on critical industry issues. The 71st CFA Institute Annual Conference will be held in Hong Kong on 13–16 May 2018.

Technological advances are reshaping our jobs and the nature of work. How will the global economic system evolve? What will the future of work look like?

Read More

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