Economic Value of Equity (EVE): Protection from Rising Interest Rates
CFA Institute
JULY 7, 2022
Economic value of equity (EVE) can help determine how well a company can weather interest rate hikes.
Economics Performance Measuring Risk Management 
Building a CAPM That Works: What It Means for Today’s Markets
CFA Institute
MAY 24, 2022
The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.
Marketing 
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The Growth Architect: How Financial Leaders are Unlocking Potential
Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors
From Start to Scale: Driving Growth Through Seamless Payments Implementation
Trending Sources
What-if analysis or why is it important for good financial planning software?
Spreadym
MAY 10, 2023
It involves evaluating the impact of various "what-if" situations on financial flows projections, business performance measures, or outcomes. By doing so, you can assess how changes in these variables might impact investment performance and make more informed investment decisions.
ESG-driven growth: Stakeholders have greater expectation but boards lack commitment
Future CFO
FEBRUARY 16, 2022
66% of leaders combined see the top two advantages to integrating ESG factors in their corporate strategy as first, long-term value through new ESG-driven products and services, and second, resilience to ESG risks. 83% of respondents said they would like mandatory reporting of ESG performance measures against global standards.
Tell Me a Story: Aswath Damodaran on Valuing Young Companies
CFA Institute
MAY 24, 2022
"You don't have to be right to make money [valuing companies]," Aswath Damodaran says. You just have to be less wrong than everybody else.”.
How Sharp Is the Sharpe Ratio? An Analysis of Global Stock Indices
CFA Institute
JUNE 3, 2022
To test the Sharpe Ratio’s effectiveness, we constructed monthly return distributions for global stock market indices to see if any had too much skewness.
Construction 136
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Retirement Income: Six Strategies
CFA Institute
FEBRUARY 25, 2022
How can we mitigate sequence of returns risk (SoRR)?
Equity Risk Premium Forum: Don’t Bet Against a Bubble
CFA Institute
APRIL 7, 2022
Cliff Asness, Rob Arnott, Roger G. Ibbotson, and other luminaries explore the nature of bubbles and the momentum factor.
Digital Gold or Fool’s Gold: Is Crypto Really a Hedge against Equity Risk?
CFA Institute
JULY 11, 2022
When it comes to hedging equity risk, bitcoin and cryptocurrencies are less "digital gold" and more fool's gold.
Equity Risk Premium Forum: The Deficient Market Hypothesis
CFA Institute
APRIL 29, 2022
"If we thought of the equity premium as a fear premium," Rob Arnott says, "a lot of the so-called anomalies that we’ve talked about would not be anomalies at all.".
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Myth-Busting: Alts’ Uncorrelated Returns Diversify Portfolios
CFA Institute
DECEMBER 9, 2022
Do alternatives offer any diversification benefits?
Equity Risk Premium Forum: Term Structure, Mean Reversion, and CAPE Reconsidered
CFA Institute
JULY 29, 2022
Does the equity risk premium (ERP) vary depending on the term structure? Does reversion to the mean dictate that it will decrease the longer the time horizon?
Valuing Digital Assets with TradFi Tools: Three Methods
CFA Institute
OCTOBER 25, 2022
Not all traditional investment management techniques are applicable to digital assets, but sector breakdowns, DCF models, and risk factor modeling are solid starting points.
Investments 116
116 
How Do Cryptocurrencies Correlate with Traditional Asset Classes?
CFA Institute
NOVEMBER 16, 2022
The crypto market’s recent gyrations necessitate a fresh look at the evolving relationships between crypto and traditional asset classes.
What is the difference between planning, budgeting and forecasting for a business?
Spreadym
JUNE 8, 2023
It is a tool used to anticipate the financial performance of a business or a specific project. Forecasts can be short-term or long-term and are usually based on assumptions about factors like market conditions, customer behavior, economic trends, and internal capabilities.
Forecasting 52
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On Investment Objectives and Risks, Clear Communication Is Key, Part 2
CFA Institute
JANUARY 25, 2022
Standard deviation fails to characterize risk in a way that matters to most investors.
Communication 107
107 
Time-Varying Risk Premia: Cochrane’s “Discount Rates”
CFA Institute
MARCH 11, 2022
"Discount rates vary a lot more than we thought. Most of the puzzles and anomalies that we face amount to discount-rate variation we do not understand.".
Why Invest in Stocks?
CFA Institute
MAY 11, 2022
Equities are not necessarily more risky than such "safe" assets as US Treasuries. .
Investments 102
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Top 10 Posts from 2022: Fama and French, Damodaran, the Equity Risk Premium
CFA Institute
DECEMBER 30, 2022
In a wild year for markets and investing, what EI content most resonated with readers?
Investments 103
103 
China’s Enterprise Annuities: “Long-Term Money, Short-Term Investment”
CFA Institute
MARCH 29, 2022
The operation of enterprise annuities in China suffers from a "long-term money, short-term investment" mindset.
Investments 99
99 
ESG (In)Efficiency
CFA Institute
DECEMBER 22, 2022
Passive ESG investing has become increasingly active. It’s time for a rethink.
Investments 103
103 
Diversity and Investment Performance: What Trade-Off?
CFA Institute
DECEMBER 30, 2022
Is there a trade-off between diversity and investment performance?
Investments 100
100 
Asset Owner Perspectives: Building Investment Organizations Fit for the Future
CFA Institute
JUNE 17, 2022
How are asset owners thinking about and building their multi-generational, long-horizon portfolios?
Investments 94
94 
On Investment Objectives and Risks, Clear Communication Is Key, Part 3
CFA Institute
FEBRUARY 23, 2022
Portfolio Pi and Portfolio Eta are new decision metrics that connect investment objectives and risks.
Evergrande: Not So Grand Financial Statements?
CFA Institute
OCTOBER 31, 2021
Risks can be known in advance. You just need to be curious enough.
Evaluating Benchmark Misfit Risk
CFA Institute
DECEMBER 19, 2022
How can we identify and measure a portfolio's benchmark misfit risk?
Benchmarking 96
96 
Meme Stocks and Systematic Risk
CFA Institute
AUGUST 8, 2021
How do meme stocks move relative to stock market indices and other meme stocks?
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Renewable Energy Funds: Through a Gender Lens
CFA Institute
MAY 31, 2022
As ESG investing continues to grow, applying a gender lens to public equity funds focused on climate solutions is critical.
Investments 94
94 
Rethinking Retirement Planning Outcome Metrics
CFA Institute
APRIL 10, 2023
Retirement, like life, is fundamentally uncertain. That's why we need to provide clients with more context about what missing their retirement-income goals might look like.
Planning 94
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Sector and Factor Performance in Wartime
CFA Institute
NOVEMBER 1, 2022
How do stocks -- specifically sectors and factors -- perform during times of war?
Equity Risk Premium Forum: MMT, Looking Back, Looking Ahead
CFA Institute
SEPTEMBER 22, 2022
"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." -- Cliff Asness.
Finance 92
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Presidential Election Cycle Theory: A Bullish 2023?
CFA Institute
FEBRUARY 14, 2023
What are the strengths, limitations, and nuances of presidential election cycle theory and what does the current political context foretell regarding whether 2023 will follow the predicted trend?
Book Review: Purpose and Profit
CFA Institute
SEPTEMBER 16, 2022
The importance of ESG factors has been accelerated by the COVID-19 pandemic, making George Serafeim's book essential reading.
ESG Asset Managers: Define the Why
CFA Institute
AUGUST 24, 2021
Asset managers need to define how they plan to do that. Clients today want their investments to produce a genuine positive impact as well as a return.
Investments 90
90 
How Goals-Based Portfolio Theory Came to Be
CFA Institute
NOVEMBER 16, 2022
Investing is never done in the abstract. Investing is — and always has been — goals-based.
Investments 89
89 
Conservatism: De-Risking the Profitability Factor
CFA Institute
NOVEMBER 10, 2022
By combining Profitability and Conservatism, we can reduce a portfolio's downside risk and enhance its risk-adjusted returns over the long run.
ESG Ratings: Navigating Through the Haze
CFA Institute
AUGUST 9, 2021
How severe is the lack of correlation among ESG ratings?
Redefining the Retirement Income Goal
CFA Institute
FEBRUARY 9, 2023
Spending flexibility must be better incorporated into the tools and outcomes metrics with which financial advisers advise clients.
Is the 60/40 Portfolio Still Relevant?
CFA Institute
APRIL 12, 2023
How do portfolios with asset allocations of 100% equity, 100% bond, 60/40, and 80/20 in the US, UK, Italian, Swiss, and global markets perform over time?
Managed Futures: A Risk-Off Solution?
CFA Institute
DECEMBER 15, 2022
If Treasuries no longer fulfill their traditional role, what other strategies or asset classes can enhance diversification and deliver consistent returns?
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Top 10 Posts from 2021: The Buffett Indicator, GameStop, Inflation!
CFA Institute
DECEMBER 26, 2021
What articles most resonated with readers in 2021? Aswath Damodaran on the COVID crucible, career tips from Eric Sim, CFA, and more.
The Size Factor Matters for Actual Portfolios
CFA Institute
MARCH 1, 2023
The size factor contributes to portfolio diversification and risk control.
Private Markets: Guardians at the Gate?
CFA Institute
DECEMBER 9, 2022
Regulatory reform in the private markets should focus on five areas.
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Inflation: What If It Doesn’t?
CFA Institute
DECEMBER 2, 2021
Joachim Klement, CFA, expects inflation to fall. But that doesn't stop him from asking, What if I'm wrong?
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