Author: Roger G. Clarke
Publisher: Research Foundation of The Institute of Chartered Financial Analysts (CFA Institute)
Keywords: blackwell, series, finance, aimr, foundation, futures, tutorial, research, options
Number of Pages: 124
Published: 1992-12-01
List price: $35.00
ISBN-10: 0943205166
ISBN-13: 9780943205168

The growth of the options and futures markets for financial assets has made available important tools to the professional investor. Derivative securities allow the investor to alter the risk-return characteristics of an investment in many different ways. This tutorial introduces the important characteristics of options and futures so that they can be used intelligently.

Author: CFA and Kevin Terhaar, CFA Brian D. Singer
Publisher: Research Foundation of The Institute of Chartered Financial Analysts (CFA Institute)
Keywords: aimr, blackwell, series, finance, foundation, research, foundations, capital, market, returns, economic
Number of Pages: 62
Published: 1997-09-01
List price: $35.00
ISBN-10: 0943205409
ISBN-13: 9780943205403

The objective of this monograph is to develop a process for forecasting long-term returns based on a firm economic foundation. The authors examine returns available to the providers of financial capital and how these returns are generated among the myriad assets.

Authors:Jennifer Francis, Qi Chen, Donna R. Philbrick, Ri
Publisher: Research Foundation of CFA Institute
Keywords: independence, analyst, security
Number of Pages: 118
Published: 2004-08-27
List price: $35.00
ISBN-10: 0943205697
ISBN-13: 9780943205694

Many investors perceive, based primarily on anecdotal evidence, that analysts do not act independently. What the authors of this Research Foundation monograph provide is a scientific exploration of the evidence on the nature and causes of security analyst conflicts. This comprehensive and insightful analysis should help investors evaluate the integrity of sell-side research and help regulators adopt wise policies.

Author: Stephen M. Hora
Publisher: Research Foundation of CFA Institute
Keywords: tax, wealth, accumulation, efficient, accounts, advantaged, savings
Number of Pages: 117
Published: 2005-06-22
List price: unknow
ISBN-10: 0943205735
ISBN-13: 9780943205731

This monograph explores central issues surrounding the use of tax-deferred investment accounts as a means of accumulating wealth and presents a useful framework, grounded in basic time-value-of-money concepts, that can be readily implemented by investment professionals (U.S. as well as non-U.S. based) in various tax environments (current as well as future).

Authors:Zvi Bodie,  Laurence B. Siegel, Rodney N. Su
Publisher: The Research Foundation of CFA Institute
Keywords: retirement, phase, investing, saving, life, cycle, future
Number of Pages: 88
Published: 2009-10-05
List price: unknow
ISBN-10: 1934667269
ISBN-13: 9781934667262

In October 2008, about 150 economists, actuaries, research scientists, investment managers, and advisers met for two days at Boston University to analyze the most pressing financial issues facing the "Boomer" generation in developed nations with aging populations. The conference took place just before the election of Barack Obama as U.S. President, and the global economy was in the worst financial crisis since the Great Depression. The retirement savings, home values, and stock portfolios of U.S. families were hard hit, and the short-run outlook for employment and growth was not good. Most of

Author: Mark Lang
Publisher: Research Foundation of CFA Institute
Keywords: valuation, equity, options, stock, employee
Number of Pages: 79
Published: 2004-07-02
List price: $35.00
ISBN-10: 0943205670
ISBN-13: 9780943205670

Stock options represent a significant claim against companiesthat should be reflected in their valuations, but valuing employee stock options is complex. Fortunately, in this Research Foundation of CFA Institute monograph, Mark Lang presents an excellent framework for valuing these claims by balancing the obligation of the company to fund outstanding options and future grants with the benefits arising from the incentive effects of options.

Authors:Patricia M. Dechow, Catherine M. Schrand,
Publisher: Research Foundation of CFA Institute
Keywords: quality, earnings
Number of Pages: 160
Published: 2004-07-02
List price: $35.00
ISBN-10: 0943205689
ISBN-13: 9780943205687

Understanding the quality of earnings is an essential part of processing and interpreting information. The authors of this Research Foundation of CFA Institute monograph discuss the types of earnings management techniques companies use, when earnings management is most likely to occur, and the role of key players in monitoring management and improving earnings quality. They also examine how investors respond to earnings and highlight trading strategies based on earnings quality.