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A Comprehensive Guide to ETFs (2nd Edition)
By Joanne M. Hill, PhD, Elisabeth Kashner, CFA, and Dave Nadig

Credit-Implied Volatility
By Bryan T. Kelly, Gerardo Manzo, and Diogo Palhares

Images Tell Stories
By Joshua Ronen, Tavy Ronen, and Mi Zhou

Geoeconomics and Financial Markets
Stay informed, think critically, and manage risk with insights from CFA Program curriculum and Research and Policy Center research.
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

Investing Through Uncertainty: 5 Lessons in Emotional Discipline
In a period marked by geopolitical risk and market volatility, Steve Foerster, CFA, draws on centuries of history and behavioral finance to explore how emotional biases—like overconfidence, panic selling, and FOMO—can quietly undermine investor performance. Through compelling case studies and timeless lessons, he outlines how cultivating emotional discipline is not only a safeguard against costly mistakes, but a critical skill for navigating today’s complex investment landscape.

Small Caps vs. Large Caps: The Cycle That’s About to Turn
After more than a decade of underperformance, US small caps may be nearing a cyclical turning point. Daniel Fang, CFA, CAIA, examines the structural forces supporting a small-cap resurgence—from shifting rate dynamics to compelling relative valuations—and makes the case for a renewed strategic allocation.

Can Generative AI Disrupt Post-Earnings Announcement Drift (PEAD)?
Toghrul Aghbabali explores how large language models like ChatGPT are not just challenging the persistence of post-earnings announcement drift (PEAD) but are also poised to reduce deep-rooted informational asymmetries in markets. As these tools compress reaction times and democratize access to advanced analytics, they may level the informational playing field, reshaping pricing dynamics, challenging alpha-generating strategies, and redefining the role of human judgment in increasingly automated markets.
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?
