An Investment Perspective on Tokenization — Part I and II
Policy and Regulatory Implications Learn MoreRecently Published
80 Years of Financial Analysts Journal, 60 Years of Research Foundation
Throughout 2025, CFA Institute Research and Policy Center will celebrate our tradition of research excellence by marking the 80th anniversary of the Financial Analysts Journal® and the 60th anniversary of CFA Institute Research Foundation.
Financial Analysts Journal, Second Quarter 2025, Vol. 81 No. 2
This PDF contains the complete Second Quarter 2025 issue of the Financial Analysts Journal.
Letter to Congress Opposing Elimination of PCAOB
A Comprehensive Guide to ETFs (2nd Edition)
By Joanne M. Hill, PhD, Elisabeth Kashner, CFA, and Dave Nadig
Thematic Content
Capital Markets
Mercer CFA Institute Global Pension Index 2024
This report examines how young investors use content from financial influencers on social media platforms, such as YouTube, TikTok, and Instagram, to gather information and make investment decisions.
Technology
The Automation Ahead - A New Content Series
This series breaks down the reality of GenAI’s current state, guiding you through the innovations, possibilities, and risks of this new wave of automation.
Industry Future
The Finfluencer Appeal: Investing in the Age of Social Media
This report examines how young investors use content from financial influencers on social media platforms, such as YouTube, TikTok, and Instagram, to gather information and make investment decisions.
Sustainability
Investment Innovations Toward Achieving Net Zero
CFA Institute Research and Policy Center has convened net-zero thought leaders and investment luminaries to break down the big ideas around achieving net zero. They provide practical guidance for investors, asset managers, investment professionals, and regulators.
Blogs
Rethinking the Institutional Mandate: A Compilation from Enterprising Investor
Institutional investing is showing signs of strain. Underperforming portfolios, governance blind spots, and structural flaws are challenging the old playbook. But change is underway. This Enterprising Investor compilation surfaces both the cracks in the system and the strategies pointing forward, from integrating investment teams and rethinking alternatives to retaining top talent and pursuing long-term sustainability.
When the Equity Premium Fades, Alpha Shines
What happens when the equity risk premium—the cornerstone of traditional investing—shrinks toward zero? Pim van Vliet, PhD, explores the implications of a fading ERP and makes the case for a renewed focus on alpha. Drawing on nearly a century of market data, he outlines why factor investing, global diversification, and active quant strategies are becoming essential in a low-return environment. This is a must-read for investors preparing for a world where beta takes a back seat.
Resilience Is the New Alpha: Rethinking Risk in a Fragile World
In a world where volatility is the norm and not the exception, ESG as we knew it is no longer enough, contends Frank Fabozzi, CFA. He introduces a practical framework for evaluating resilience across markets, supply chains, and operational risks. His approach is not a rejection of ESG but an evolution: from good intentions to hard questions about continuity and control.
More
2024 Graham & Dodd Top Award winner: Fundamental Analysis via Machine Learning
2024 Graham & Dodd Scroll Award winner: Empirical Evidence on the Stock–Bond Correlation
The Dollar's Exorbitant Privilege
Conversations with Frank Fabozzi, CFA
Beyond Active and Passive Investing: The Customization of Finance
Watch the Debate: New Insights on Stocks for the Long Run
How Much Does ChatGPT Know about Finance?
