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4 November 2025 Financial Analysts Journal Volume 81, Issue 4

Financial Analysts Journal, Fourth Quarter 2025, Vol. 81 No. 4

CFA Institute

This PDF contains the complete Fourth Quarter 2025 issue of the Financial Analysts Journal.

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Financial Analysts Journal, Fourth Quarter 2025, Vol. 81 No. 4 bookcover image

Included in this Issue

The First 80 Years of the Financial Analysts Journal
Bruce Jacobs and Kenneth Levy, CFA

The Disappearing Edge: AI, Machine Learning, and the Future of the Discretionary Portfolio Manager
Frank Fabozzi, CFA, Andrew Chin, Igor Yelnik, and Jim Liew

Separating Positive Impact from Warm Glow
Meir Statman, PhD
 
 

The Only Other Spending Rule Article You Will Ever Need
Stefan Sharkansky

Regime-Based Strategic Asset Allocation
Eric Bouyé and Jérôme Teiletche

Thematic Investing: A Risk-Based Perspective
Emmanuel Candès, Trevor Hastie, Ked Hogan, Ronald Kahn, Robert Luo, and Asher Spector

Short-Term Moving Average Distance and the Cross-Section of Stock Returns
Kuan-Cheng Ko, Yanzhi Wang, and Nien-Tzu Yang

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