Emerging Market Equities: Unloved and Under-Owned

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Devan_Kaloo

“Emerging market (EM) equities has a history of headlines — mostly negative — and volatility,” said Devan Kaloo, Head of Global Emerging Markets Equities at Aberdeen Asset Management. Yet there is reason for optimism, Kaloo assured attendees of the 70th CFA Institute Annual Conference, especially for those value investors who dive deeply into the fundamentals, which may be turning positive.

One primary reason for greater volatility in EM equities is less liquidity. Free float on the average EM company is only 30% whereas it is closer to 70% for companies in developed markets. “If you have a dollar to buy Exxon at 100% float, it has a different effect than buying a dollar of PetroChina with its 25% float,” said Kaloo. This fact can move markets. Read More

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10 Habits of Highly Effective Job Seekers

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Hellmann_Robert
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.

A good job search ends quickly. An unsuccessful one drags on for weeks or even months with nothing to show for it, except perhaps disinterest, despondency, or even disaster.

The work you put into structuring a job search can be more important than the work you dedicate to the search itself.

At the 70th CFA Institute Annual Conference, executive coach Robert Hellmann, president of Hellmann Career Consulting, discussed what to do when your job-search efforts have stalled.

“I want to give you a way to diagnose an ailing job search,” he declared. Hellmann outlined 10 behaviors that form the foundations for an effective search. If any are unfamiliar, then focusing in on them could revitalize your efforts: Read More

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The Importance of Avoiding Unintended Bets in Your Investment Portfolio

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Robert_Browne

Investors are familiar with the benefits of diversification across asset classes within their portfolios. There are also many articles and speeches on how to properly conduct an asset allocation exercise. Yet once the allocations are put in place, how do you make sure that you are getting the exposures you were looking for? And how do you avoid assuming unintended risks?

At the 70th CFA Institute Annual Conference, Robert P. Browne, CFA, CIO at Northern Trust, discussed how asset allocation decisions are made using quantitative methods, while the underlying (active) portfolios are often run by managers from the fundamental school of investing. Read More

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Thaler on Choice Confusion: To Intervene or Not to Intervene

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Thaler on Choice Confusion: To Intervene or Not to Intervene

Investing and throwing darts share many traits.

Most investors and dartists miss. But simple behavioral nudges can help improve our accuracy so that we’re more on target.

Read More

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How Can Investment Firms Find their Way to Greatness?

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Investment_Panel

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.

At the 70th CFA Institute Annual Conference, a panel of business leaders considered a challenging question for investment professionals: What makes investment firms great?

Paul Smith, CFA, president and CEO of CFA Institute, was joined on stage by Joseph Brennan, CFA, principal and head of the equity index group at Vanguard; Tina Byles Williams, founder and chief investment officer of FIS Group; and Leo P. Grohowski, executive vice president and chief investment officer at BNY Mellon Wealth Management. Smith challenged the group to consider whether it takes more than just performance to truly make a firm great, and if so, what did they think it was? Read More

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Sir Paul Tucker Diagnoses Threats to the Success of Financial Capitalism

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Paul_Tucker
Sir Paul Tucker is not shy about making an audience feel uncomfortable.

In fact, the crowd was rather ill at ease during Tucker’s presentation at the 70th CFA Institute Annual Conference, and not just because the topic was systemic risk. Read More

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Campbell R. Harvey Explains Blockchain 101

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Campbell Harvey

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.

There has been much talk about blockchain disrupting the financial services industry. Earlier this month, IBM’s vice president of blockchain declared that “2016 was the year of blockchain experimentation,” and “2017 is the year of adoption.” (The fact that IBM has an executive with “blockchain” in his job title is a data point by itself.)

So, what is blockchain? What will it do to our industry? At the 70th CFA Institute Annual Conference, Duke University Professor of Finance Campbell R. Harvey led an extended presentation on the subject. Read More

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C. Thomas Howard Urges Practitioners to “View the Markets as They Are”

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C_Thomas_Howard

“I’m here to tell you there is life after Modern Portfolio Theory.”

That was just one of the notable quotes that C. Thomas Howard gave during his presentation at the 70th CFA Institute Annual Conference. The self-proclaimed “behavioral financial analyst” minced no words explaining why he thinks that markets are not efficient and why investors — once they conquer their behavioral biases — should allocate 100% of their investment portfolios to a concentrated stock fund. Howard implored the audience to “view the markets as they are, rather than as you want them to be.” Read More

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Maximize Your Career Success: Pearls from Carla Harris

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Carla_Harris
When Carla Harris married in 2001, The New York Times described the bride as “a quintessential Type-A Wall Streeter — the sort of person who gets impatient for the sun to rise.”

Harris’s characteristic charm and energy were front and center in Philadelphia at the 70th CFA Institute Annual Conference as she shared some of “Carla’s pearls” — hard-earned pearls of wisdom and career advice, gleaned from her nearly three decades on Wall Street. Read More

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Progress Interrupted by Populism

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Progress_Panel
US President Donald Trump wasn’t elected by chance. Nor did Brexit come out of the blue.

Citizens in the western world have become fed up with politicians who don’t listen to them, said Neil Howe, economist, and co-author of The Fourth Turning.  Howe was speaking to delegates at the 70th CFA Institute Annual Conference as part of a panel discussion titled, “Progress Interrupted: The Revolt against the Status Quo and the Challenge to 20th Century Institutions.” Read More

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