Volatility in stock markets

Help me out of my confusion: I just read in a research report, that the low volatility in stock markets (VIX of S&P500 @12) is at the moment a warning signal among sentiment indicators. I always considered a HIGH volatility as a danger for a trend reversal, like in the 2000s… Continue reading

New TI calculator models - same flaws?!

So I noticed today TI came up with new versions for their financial calculators. Sadly, the new models seem to have gotten only an exterior design overhaul and key issues have not been adressed. Display is still single line and therefore does not show algebraic manipulations when entering.

How hard can it be to take the well designed TI-30X IIS and slam TVM, AMORT, STAT and NPV functions on it instead of trigonometry functions? I mean TI sells its financial calculators 90% to CFA candidates and they still don’t manage to come up with an adequate solution for that exact purpose. Continue reading

CFA in a line...

I’m currently sending out my CV and writing short cover letters. If you had to describe the CFA in one or two lines how would you do it? Continue reading

Invested Capital

I’ve seen invested capital defined two ways:

1) Net fixed assets + noncash working capital 

2) BV of debt + BV of equity

I’m confused why it has these two definitions? The former excludes long term debt. Shouldn’t that be included? Continue reading

Ethics Question: Banging your secretary in the office?

CFA Institute Chief Departs After Disclosing Relationship
Board Replaces CEO After ‘Personal Matter that Represented a Potential Conflict of Interest’


June 10, 2014 3:15 p.m. ET

CFA Institute, the nonprofit organization that confers one of the most highly regarded credentials for financial professionals, replaced its chief executive last week after its board learned of a relationship between the executive and a senior staff member, said people familiar with the matter. Continue reading


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