I appreciate your reply.

Investment profession is structured in a way that discourages practitioners to discuss practical matters (how they really analyse, forecast and invest). On the other hand, you can see terrible forecasts from "gurus" and prominent bank analysts all around you all the time (which obviously doesn't add credibility to profession).

I wonder why CFA (which is probably the highest standard in investment profession today) generally stays away from any practical discussion. The exam itself is mainly theoretical and any scent of applicability is usually from years ago.

I presume exam material will stay theoretical forever and it's fine. But beyond the exam, why not write about practical issues instead of rewriting once and again theoretical textbook material?