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CFA Chartered Financial Analyst (CFA) is an international professional designation offered by CFA Institute (formerly known as AIMR) to financial analysts who complete a series of three examinations. To become a CFA Charterholder candidates must pass each of three six-hour exams, possess a bachelor’s degree (or equivalent, as assessed by CFA institute) and have 48 months of work experience in an investment decision-making position. CFA charterholders are also obligated to adhere to a strict Code of Ethics and Standards governing their professional conduct. (Wikipedia Jan 2010)
The investment profession:
By John Schroy, on July 26th, 2009 |

The Crash of 2008 raised questions as to the competence of many who work in the profession of security analysis. There are dozens of schools providing professionals with training and certification in this field. However, know-how is not enough.
Commonsense and hard work can be more important than theoretical training and the ability to use the terminology.
This article discusses an endemic problem: Laziness.
Financial economic theory
By John Schroy, on June 16th, 2009 |

A recent poll of members of the British Chartered Financial Analyst Institute revealed that 77% of its members disagreed that investors acted rationally.
This implicit rejection of the Efficient Market Hypothesis has far reaching implications for the structure and management of capital markets, including Modern Portfolio Theory, the use of betas, the justification for index funds, and the M&M Theories.
Will the economists that proposed these theories return their Nobel prizes?
The Enron scandal
By John Schroy, on July 7th, 2006 |

Unfortunately for society, Jeff Skilling of Enron told the truth according to tenets of moral relativism learned at the Harvard Business School and with McKinsey and Company, when, on being sentenced to decades in prison, he said, “That’s the way the game is played. You win some, you lose some.”
Skilling was a representative of corporate executives of his time. He did not work alone, nor was he an isolated ‘bad apple’.
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