The Research and Policy Center Year in Review

Insights, Influence, and Impact in 2025

Timely Policy Analysis
Financial Analysts Journal & Research Foundation
Blogs & Multimedia

Explore the Research and Policy Center’s 2025 Year in Review, featuring our most-read research, timely policy analysis, and standout blogs, videos, and podcasts. See what resonated most with the investment community and celebrate milestone anniversaries for the Financial Analysts Journal and the Research Foundation.

Standout Research

AI in Asset Management: Tools, Applications and Frontiers

Joseph Simonian, PhD, Editor

A Comprehensive Guide to ETFs (2nd Edition)

By Joanne M. Hill, PhD, Elisabeth Kashner, CFA, and Dave Nadig

Mercer CFA Institute Global Pension Index 2025

By CFA Institute and Mercer

Investment Innovations Toward Achieving Net Zero

More than 50 authors contributed to this research.

Continuation Funds: Ethics in Private Markets, Part I

By Stephen Deane, CFA and Ken Robinson, CFA, CIPM

AI Washing: Signs, Symptoms, and Suggested Solutions for Investment Stakeholders

By Joseph Simonian, PhD

Explainable AI in Finance: Addressing the Needs of Diverse Stakeholders

By Cheryll-Ann Wilson, PhD, CFA

The Automation Ahead - Content Series

By Brian Pisaneschi, CFA

Timely Policy Analysis

Investor Perspectives: Intangible Assets

By Sandra J. Peters, CPA, CFA and Matthew P. Winters, CPA, CFA

Capital Formation in Africa: A Case for Private Markets

By Olivier Fines, CFA and Phoebe Chan

An Investment Perspective on Tokenization — Part I

By Urav Soni, Olivier Fines, CFA, and Jinming Sun, CFA.

An Investment Perspective on Tokenization — Part II

By Giovanni Bandi, PhD, Olivier Fines, CFA, and Urav Soni

Letter to Congress Opposing Elimination of PCAOB

By Marg Franklin, CFA and Sandra J. Peters, CPA, CFA

Geoeconomics and Financial Markets

Content collection

Impact of Quarterly Reporting

By CFA Institute

Financial Reporting Survey: The Case for Quarterly & ESG Reporting Requirements

By CFA Institute

Standout Enterprising Investor Blogs

Vices, Virtues, and a Little Humor: 30 Quotes from Financial History

By Mark J. Higgins, CFA, CFP and Rachel Kloepfer

Small Caps vs. Large Caps: The Cycle That’s About to Turn

By Daniel Fang, CFA, CAIA

Market Concentration and Lost Decades

By Bill Pauley, CFA, Kevin Bales, CFA and Adam Schreiber, CFA, CAIA

Outperformed by AI: Time to Replace Your Analyst?

By Michael Schopf, CFA

Our Most Watched Videos

An Investment Perspective on Tokenization

Author video with Olivier Fines, CFA

Check out the report here

Reframing Financial Markets as Complex Systems

Author video with Genevieve Hayman, PhD

Check out the report here.

Synthetic Data in Investment Management

Author video with James Tait

Check out the report here.

Our Top Podcasts

Enterprising Investor Podcast

Danielle DiMartino Booth: Recession Signals, Inflation Trends, and Market Implications

The Sustainability Story Podcast

Mark Campanale: The Carbon Bubble and Future of Fossil Fuels

Financial Thought Exchange Podcast

Marlena Lee on Factor Investing, Market Insights, and Smarter Diversification

Celebrate Milestone Anniversaries

Celebrating 80 Years of the Financial Analysts Journal

To celebrate the 80th anniversary of the Financial Analysts Journal®, the Advisory Council, Executive Editor, and Managing Editor selected a small sample of influential articles spanning many decades. The list is not comprehensive and reflects personal preferences but serves to illustrate the impressive contributions to the investment management industry made through the pages of the Journal.

Celebrating 60 Years of the Research Foundation

CFA Institute Research Foundation has been sponsoring independent investment research since 1965. Some of our most popular and instructive pieces are listed and summarized below. The earliest is William F. Sharpe’s 1975 inquiry (with co-authors) asking whether financial analysis is “useless,” as the efficient market hypothesis might suggest. (Financial analysis is not useless).