CFA Institute Research Foundation

"The fiscal theory of the price level (FTPL) provides an update and revision of monetary theory to address puzzles raised by the failure of both the new Keynesian theory (commonly used by central bankers) and neoclassical monetarism (in particular, the quantity theory of money as interpreted by Milton Friedman and Anna Schwartz)—puzzles such as the low inflation that followed the sustained expansionary monetary policies post-2008. We aim to summarize and explain the FTPL as developed by Eric Leeper, John Cochrane, and others." - https://lnkd.in/eKj4Qjy2 Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

Another great video from the Financial Thought Exchange - Philip Maymin on the Future of AI in Finance - https://lnkd.in/ex3-p5UD Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #ai #investing

"Once infrequently used, stock buybacks have become the dominant form of corporate payouts in the new century. Hundreds of billions of dollars flow from public companies to their shareholders via share repurchases every year. This literature review presents the main findings from the academic literature on stock buybacks in the United States and around the world. Where appropriate and possible, it compares and contrasts the insights of researchers to the views of practitioners." - https://lnkd.in/eBVBXttK Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

Tom Idzorek & Paul Kaplan join host Lotta Moberg to discuss how lifecycle finance's wide, encompassing approach provides an over-arching framework for individuals to better invest their money over the course of their life. Here is a link to their published research: https://lnkd.in/e-2JgqGT... https://lnkd.in/eaHHbFt3 Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

There are new highs in many US equity indices and rapid gains in many cryptocurrencies. Is it a bubble or something else? https://lnkd.in/gJx2ANzc Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

Anthony DeChellis hosts industry veterans Brian Singer, CFA, and Lotta Moberg, CFA, to discuss their soon to be released (January 2025) CFA Institute Research Foundation brief, Financial Entrepreneurship: Balancing Active and Passive Investment Horizons. The conversation explores the evolution of the asset management industry over the decades, highlighting shifts from traditional investment approaches to innovative strategies. Brian and Lotta share insights from their decade-long collaboration and the journey that led to their current research, shedding light on the changing landscape of finance and investment. Tune in to discover how these developments impact investors and the financial sector as a whole. - https://lnkd.in/esQQr-mt Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

"The conversation addresses market efficiency, with Asness presenting his views on the "Less Efficient Market Hypothesis." Despite advancements in technology and data availability, he says, the processing of information has not necessarily improved, leading to inefficiencies in the market. Asness discusses the impact of passive investing on market dynamics and the challenges of generating alpha in a landscape where traditional value investing has performed poorly. The episode concludes with Asness sharing insights on the role of machine learning in quantitative finance, emphasizing its potential to enhance research and signal generation while maintaining a balance with economic theory." https://lnkd.in/exmTHJH9 Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #investing #investments

"Economists have long held that financial planning should be based on life-cycle models, but financial planners have not adopted life-cycle finance. A practical, integrated three-stage model that incorporates life-cycle finance is proposed." - https://lnkd.in/eA-Egx_Y Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #financialplanning #investing

Learn more about infrastructure debt here - https://lnkd.in/e5FXtg8A Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX #cfainstitute #alternativeinvestments #alts

"The current methods used to assess market and portfolio risk extend back to the early 1990s. These methods were developed for banks and broker/dealers and then were adopted by the portfolio management and hedge fund community. This audience focuses on short-term risk, which is measured in days for the broker/dealer’s blotter and in months for hedge funds and investment managers. The current methods fail to reflect the dynamics that become increasingly important over the long term—dynamics that generate the periods of major downturns and instability that can derail lifestyle goals and even threaten basic financial security. These are the material risks for individuals and other asset owners. Unlike a bank or portfolio manager, risk comes at an individual from two directions: (1) the market risk that directly affects individual wealth and (2) the personal risk that comes from the uncertainty of life events and changes in risk tolerance and preferences. These interact to make an individual’s risk calculation complex and dynamic." - https://lnkd.in/ettVB7Vm #cfainstitute #risk #investing Please follow the RF Showcase page here: https://lnkd.in/e66zSKD Download and share RF content (free to all): https://lnkd.in/e_JPRYsY Explore the Investment Data Alliance: https://lnkd.in/eS4wXwBX