Interesting article… CFA designation no guarantee of quality http://www.vancouversun.com/business/designation+guarantee+quality/1791850/story.html
He writes ‘if i were a CFA…’ He obviously is not…
If I get a dime everytime the author used “CFAs” in this article… I am not surpised that there are a few bad apples out there. But did the author try to verify the “CFAs” in his article were in fact CFA institue members? After all, anyone can claim to be a CFA.
I agree that there is no guarantee. How many candidates/charterholders actually follow ethics given in the curriculum?
I went to the website of one of the firms mentioned in the article. http://www.beaconequity.com/our-team/ “…As a CFA holder, our analysts are bound by the AIMR code of ethics which state (from the AIMR handbook)” --violation of the ethics code and English grammar, all in one sentence. “The companies we feature have agreed to enroll in our research program for a set period and have also agreed to pay an upfront fee to defray the costs of research, publishing and distribution. Our analysis and conclusions are therefore made independently from outside pressures.” --We are getting paid by the companies on which we issue reports, therefore we can claim to be independent. Clear as mud. I will bet my nonesistent year end bonus that there people are NOT “CFAs”.
very poorly written article
“But that’s exactly what Lisa Springer and Victor Sula, both CFAs, have been doing with alarming regularity at Beacon Equity Research.” Victor Sula is a CFA Level III Candidate according to the Beacon Equity Research website. http://www.beaconequity.com/our-team/ All professions have their idiots. How would the CFA institute be any different? Author is clearly a retard.
true dat.