Register to Attend the 70th CFA Institute Annual Conference

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The global investment profession is facing several challenges and opportunities, including political upheaval, uncertain economic growth prospects in developed and emerging markets, and the disruptive potential of fintech. In order to stay current in this changing and complex climate — to best serve their clients’ interests — financial professionals should sharpen their investment edge by attending the 70th CFA Institute Annual Conference, held in Philadelphia, Pennsylvania, on 21–24 May 2017.

Sessions at the conference will include:

  • John C. Bogle, the founder and former CEO of the Vanguard Group, Inc., exploring the new era for finance and the financial markets;
  • Carla Harris, vice chairman of wealth management, managing director, and senior client adviser at Morgan Stanley, sharing tools for maximizing career success;
  • Robert J. Shiller, Sterling Professor of Economics at Yale University, together with Jeremy J. Siegel, Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania, discussing risk and relative value in markets; and
  • Richard H. Thaler, Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the Booth School of Business at the University of Chicago, examining choice architecture in financial decision making.

At the 69th CFA Institute Annual Conference, Martin S. Fridson, CFA, shared his method for predicting high-yield bond default rates, Rupal Bhansali discussed the 7 warning signs that she avoids as a value investor, Jeremy Hunter explained how small steps over time produce large effects that result in better decisions, and Ashby Monk explained the evolution of fintech and the ways that invest-tech will change the financial industry.

The 70th CFA Institute Annual Conference, hosted at the Pennsylvania Convention Center by CFA Society Philadelphia, is an opportunity to participate in the investment industry’s largest and longest-running educational gathering of investment professionals. Delegates can learn from noted economists, best-selling authors, leading researchers, and successful practitioners.

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:

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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.

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Karen Firestone on Taking the Right Risks

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Karen Firestone

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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

Karen Firestone, CEO, and co-founder of Aureus Asset Management, has spent her career in the investment industry, including time working with Peter Lynch on the Magellan Fund at Fidelity. She considers the people selecting stocks and managing money to be “professional risk-takers,” but she also thinks that we are all “daily risk-takers.” These risks are undertaken through activities including everything from driving our cars to selecting our meals.

Are some risks too complex to ponder? Are others too simple to capture our attention? Or, are we untrained in how to truly evaluate risk and come up with a plan to manage it? Firestone considers these questions in her book, Even the Odds: Sensible Risk Taking in Business, Investing, and Life. She notes that we all have different levels of risk tolerance, but we can improve the odds of arriving at our optimal outcome by approaching risk in a thoughtful, structured way. Read More

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The Death of Private Equity Has Been Over-Reported

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Professor Claudia Zeisberger at the 69th CFA Institute Annual Conference in Montreal
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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

Private equity’s demise has been over-reported. That’s according to me and Professor Claudia Zeisberger, founder of INSEAD’s Global Private Equity Initiative.

At the 69th CFA Institute Annual Conference, Zeisberger demonstrated that private equity is very much alive, backing up her assertion with reams of data. And personally, I’m tired of hearing about the rumored death of something immortal.
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Predicting Bond Default Rates: Martin Fridson’s Method

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Martin S. Fridson, CFA

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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

Behavioral finance has cataloged an array of self-inflicted errors that can work against investors’ best interests — most often, these errors stem from functional but imperfect mental shortcuts that the brain applies in order to avoid serious cognitive effort. Successful investors understand that the market conventions arising from these kinds of shortcuts can be deeply flawed, and they recognize the importance of examining prevailing assumptions in greater detail. One such example is Martin S. Fridson, CFA: at the 69th CFA Institute Annual Conference in Montreal, he asserted that the majority of market participants are regularly projecting the high-yield default rate incorrectly.

“Most projected default rates in the marketplace, and you can read about this in the press, are based on a calculation method that takes the spread over Treasuries and subtracts a fixed illiquidity premium,” Fridson said. “This is wrong for a number of reasons.” Read More

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Building Long-Term Value: 10 Trends in Asset Stewardship

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Kumar

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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

How can investors use their skills to improve the firms they invest in? Rakhi Kumar, managing director and head of corporate governance at State Street Global Advisors, spoke to delegates at the 69th CFA Institute Annual Conference in Montréal about the approach she and her team use to engage with companies in their portfolio and the trends that she sees in investor engagement. Kumar believes it is important for long-term investors to encourage long-term strategy at companies and for all investors to recognize the role they play in markets. Read More

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Applied Fintech: Combining Invest-Tech’s Building Blocks

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Ashby Monk

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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

These days, it seems everyone in the investment business wants to talk about fintech. What does it mean for my firm? What does it mean for my job? How can we use it? How can we survive it?

Read More

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Generating Alpha by Exploiting Market Anomalies

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Peter Berezin

Peter Berezin, chief strategist at BCA Research, reminded delegates at the 69th CFA Institute Annual Conference of the certainty that, net of fees, the average active investor will underperform the stock market.

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Changes in Geopolitical Perspectives: “A World That Will Fragment”

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Peter Zeihan

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 70th CFA Institute Annual Conference will be held in Philadelphia on 21–24 May 2017.

How we view geopolitical strategic scenarios for the future dramatically impacts our investing perspectives today.

At the 69th CFA Institute Annual Conference, geopolitical analyst Peter Zeihan outlined a global political framework that is in the midst of increasingly rapid change.

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Amy Myers Jaffe: Energy Markets and Musical Chairs

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Amy Myers Jaffe

Ten years ago, we thought the world was running out of oil, that China and other emerging market countries would have insatiable energy demand growth, and that production costs would generally rise over time.

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Career Management: Adapting for the Future

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Tracey Wilen

If you knew with certainty that you would live to be 100, how would that impact how you think about your career?

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