Enterprising Investor

What Bonds Can Tell Us About Equity Valuations While rising interest rates have had serious consequences for investors, there are some stocks that are performing better in the current financial climate. John Tobin, CFA, returns to the show to discuss the state of dividends and “equity duration,” and what that means for dividend payers versus non-dividend payers in a rising rate environment.

Energy price volatility has taken investors on quite a roller coaster ride over the past few years. From historic lows at the onset of the global pandemic to the surging highs seen in recent weeks, it begs the question if what we’re witnessing in the energy sector will continue, and for how long? Kathryn Downey Miller, CFA, VP of Energy Strategy at FactSet, helps shed a light on power, oil, and natural gas sectors while discussing the intricate nuances that have critical impacts on energy markets and what it means for investors.

Private equity, once an esoteric corner of Wall Street, has reached Main Street. Private equity companies are woven into the fabric of our economy. In fact, the wealth controlled by the major private equity firms is more than $12 trillion, surpassing the GDP of some nations. That’s why it’s never been more important to understand this global economic engine. Sachin Khajuria, founder and chief investment officer at Achilles Management and author of the book Two and Twenty, offers a glimpse into the winning traits and principles behind private equity and explains how best players in the industry manage to stay so successful.

Exchange-traded funds (ETFs) have become very popular among both Wall Street and Main Street investors. Combining aspects of mutual funds and conventional stocks, ETFs are typically viewed as low- cost, low-risk investments. But as we experience more increased volatility and uncertainty, what does the future hold for the ETF ecosystem?  Samara Cohen, managing director and chief investment officer of ETF and Index Investments for BlackRock, shares her thoughts on what the future holds for ETFs and what she believes is the next stage of the ETF evolution.

What is noise?  In the context of decision making, it is unwanted variability in judgment. For investment management professionals, there’s no room for errors in judgment, not when they are counted on to deliver for their clients. In this episode of Guiding Assets, we talk with Olivier Sibony, professor of strategy at HEC Paris and coauthor of Noise: A Flaw in Human Judgment. Oliver provides examples and methods for reducing noise and bias, and therefore error in decision making. Employing decision hygiene will give you more confidence in the judgments your firm makes. Be sure to listen and follow Olivier at https://twitter.com/SibOliv and https://www.linkedin.com/in/oliviersibony/.

In what has already been a very turbulent few years for investors, Russia’s invasion of Ukraine has rattled investors to the core. The geopolitical uncertainty making headlines has led to heightened market volatility on an economy which was rebounding from the disruptions of a global pandemic. Now, the prospect of a long-term war leaves more questions than answers. Dr. John C. Hulsman, president and co-founder of John C. Hulsman Enterprises, a prominent global political risk consulting firm, explains how we got here, identifies the biggest risks associated with the conflict, and describes the geopolitical implications of this humanitarian crisis on markets today and in the future. The opinions expressed on this podcast are solely the views of the guests and do not necessarily reflect the opinions of CFA Institute.

With the release of the Enhancing Investor Trust: 2022 CFA Institute Investor Trust Study, Gary DeMoss, director at Invesco Consulting, and Adrienne Penta, executive director of the BBH Center for Women & Wealth at Brown Brothers Harriman, discuss the factors that are driving higher trust in financial services. While there is certainly cause for optimism, Gary and Adrienne share what the industry must do to sustain that trust even during periods of volatility. To view the full survey and results, visit https://trust.cfainstitute.org/.

Investment management professionals face a complex and rapidly evolving landscape that can often be challenging to navigate. At the same time, the shift to focusing on innovation and technology presents an incredible opportunity in the form of efficiency, diversity, and stewardship. CEO of CFA Institute, Marg Franklin, CFA, shares four trends for which she believes the investment industry will need to prepare in order to make an impact in the most material and tangible ways for clients and society.

We're excited to launch this spring with a brand new season featuring conversations with some of the most interesting names in the investment management world.

We’ve heard your feedback loud and clear. You love the high-quality guests and industry insights but prefer episodes that are shorter and more focused. That’s why we’ve going to be taking a short break to revamp the show’s format, aiming to debut a new and improved version of the show this fall. We want to make a show that is both entertaining and enlightening but more condensed with clearly defined takeaways.   Thank you and keep following us, we will be back soon!