Alex, my comment was and still is about the timeliness (or lack thereof) of CFA institute articles. CFA Institute keeps trying to cram professional development or continuing education or some other label down members throats — but if we rely solely on material from CFA Institute we would be several years (at best) behind our industry. You and I are both citing published articles from several years ago, and we both acknowledge that the research, writing and peer review happened before that.

The question is whether CFA Institute will be **practitioner oriented**, as was promised back when the entity was called AIMR... or will it be a dated academic review of the literature.

It has been heading toward the latter, and that is disturbing.

Thank you for your attempt to drag Charlottesville, kicking and screaming, into theories from twenty years ago.