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