Top 10 Steven Eisman Quotes from Hong Kong

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Top 10 Steve Eisman Quotes

Steven Eisman of The Big Short fame delivered an hour’s worth of pithy and insightful comments on the global financial crisis, the markets, and the finance industry at the 71st CFA Institute Annual Conference in Hong Kong.

I selected 10 quotes from the session that were particularly compelling and offer a taste of what he covered in his full presentation.

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Risk and Opportunities in Frontier Markets

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Frontier markets are not for the faint of heart. The orderly lanes of a metropolitan city in Europe or North America are a far cry from the roads of a frontier market or emerging market economy. From navigating roads to investing in assets, the levels of uncertainty and volatility of outcomes in many of these markets are much higher.

But there are investors who think that the chaos inherent in these economies can be a source of significant returns. They look to profit from the economic growth that comes from molding disorder into order.

At the 71st CFA Institute Annual Conference in Hong Kong, Andreas Vogelsanger, CFA, and Joyce Ng participated in a panel discussion on “Risk and Opportunities in Frontier Markets Investing,” providing an insightful discussion on the importance of this type of investing. Read More

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Decrypting Earnings Calls with Natural Language Processing

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Decrypting Earnings Calls with Natural Language Processing

Finance professionals who are familiar with fintech already know that the future belongs to people who collaborate with robots and automated processes, not those who compete with them. David Pope, CFA, managing director at Quantamental Research at S&P Global Market Intelligence, is one collaborator who is ready to claim the future.

At the 71st CFA Institute Annual Conference in Hong Kong, Pope discussed natural language processing (NLP) and how it can yield investment insights. NLP harnesses statistics and computerized data analysis to review primary data — in Pope’s examples, transcripts of corporate earnings calls — to reveal new information, say, about a company or its position relative to its peers. Read More

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Chinese Government Bonds: The Elephant in the Room

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Chinese Government Bonds: The Elephant in the Room

China’s government fixed-income market constitutes a US $12-trillion opportunity.

Indeed, the growing investable opportunity in Chinese bonds was the primary takeaway from Emil Nguy’s presentation, “Asia’s Fixed-Income Market — The Elephant in the Room,” at the 71st CFA Institute Annual Conference in Hong Kong.

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The Selling Mindset: Career Strategies for Ascending the Ranks

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The Selling Mindset: Career Strategies for Ascending the Ranks

Eric Sim, CFA, offered delegates a series of strategies for progressing up the corporate ladder at the 71st CFA Institute Annual Conference. He based his advice on his years of experience in finance, culminating in his own managing director role at UBS.

Individually, his strategies may sound familiar, but taken together they offer a valuable road map for navigating an ascent up the professional ranks. Read More

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The Robots Are Coming! The Robots Are Coming!

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The Robots Are Coming! The Robots Are Coming!

Yes, the robots are coming, but they are not conquering the planet anytime soon — even if that’s what the media hype would have us believe. And they’re not as smart or technologically advanced as we think, according to Kate Darling, a leading expert on robot ethics.

Instead of buying into the hysteria of an impending robot revolution, Darling believes we should be thinking about how we as a society use robots, and what implications this has for data collection.

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Lei Zhang on Hillhouse Capital’s Success Equation

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Lei Zhang on Hillhouse Capital’s Success Equation

Hillhouse Capital Management Group was founded in 2005 with US $20 million in seed capital from the Yale University endowment. Since then, the investment manager has grown its assets under management (AUM) to over $30 billion.

What explains this explosive growth? Read More

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Two out of Three: India and China in the Coming Decade

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Haiyan Wang

China and India will be two of the three largest economies in the world by 2025. That’s according to Haiyan Wang, managing partner of China India Institute, and her assertion is supported by the International Monetary Fund and long-term GDP forecasts by the Organisation for Economic Co-operation and Development.

At the 71st CFA Institute Annual Conference in Hong Kong, Wang examined the forces that each country must harness, and the barriers that they will need to overcome, to realize their full potential. Read More

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Paul Smith, CFA: Purpose, Professionalism, and the Rise of Trust

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Paul Smith, CFA: Purpose, Professionalism, and the Rise of Trust

Taking the stage before an audience of investment professionals at the 71st CFA Institute Annual Conference at the Hong Kong Convention and Exhibition Centre, CFA Institute president and CEO Paul Smith, CFA, issued a rousing call for a more responsible and client-focused finance industry. He laid out the formidable challenges the industry faces, from diminished trust to business models far removed from end investor outcomes, and encouraged  those in attendance and watching around the world to take the initiative to confront and overcome them. “Let us seize this common sense of purpose,” he said. “Let us harness our energy, our ethical standards, and our goodwill in order to do great things and drive great change.” Read More

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The Future’s $100 Trillion Question

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Now, more than ever, 2 million people working in financial services are uncertain about their future, watching a convergence of megatrends sweep through the investment world. Traditional practices and business models are being disrupted while interested observers are left wondering how it will all unfold.

These major trends are at the center of the countless variables and predictions trying to make sense of the future for financial services: Read More

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