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07-11-2023 Newsletter: Diversity Events at Megafunds Have Started…

OfficeHours

What many young professionals don’t take into account are the SIE or Series exams that you are required to take to become certified as an investment banker. Note that these tests are different from other ones you may have heard about like the Chartered Financial Analyst (CFA) exams, which are offered by the CFA Institute.

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2023 First Quarter Review & Commentary

FineMark

The first quarter of 2023’s equity market performance (shown in Figure 1, below) exemplifies why such scenarios — and their accompanying dire reports — don’t necessarily beget lower market prices nor should they cause an overreaction. The negative inflation data that began manifesting at the time is now obvious.

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2023 Third Quarter Review & Commentary

FineMark

For 2023, we were cautious, citing a low single-digit return expectation for the U.S. Consequently, by the end of July 2023, the S&P was up more than 20% for the year. Equities and the S&P 500 At the onset of each new year, like clockwork, we’re asked for our near-term view. This year was no different.

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2022 Fourth Quarter Review & Commentary

FineMark

Views and Investment Themes for 2023 and Beyond While the ability to predict market moves in the near term isn’t possible for anyone, we are able to identify themes that present risks and opportunities. These views help us determine how to tactically shape and allocate our clients’ portfolios.

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The CFA for Investment Banking: Do the New Changes Make It Worthwhile?

Mergers and Inquisitions

I’ve now been writing about finance careers for almost 20 years, and the topic of the CFA for investment banking never seems to die. I first criticized the CFA in a 2009 article , which generated a lot of angry comments. But earlier in 2023, the CFA Institute announced the biggest changes to the program since it started.

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2023 Second Quarter Review & Commentary

FineMark

To quantify this precisely, 10 specific issues out of the S&P 500* have generated nearly 80% of the index’s returns thus far for 2023. As reported in the June 27, 2023, Wall Street Journal article entitled, “ U.S. We’ve created two graphics to illustrate this situation.

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2023 Fourth Quarter Review & Commentary

FineMark

On November 28, 2023, just five weeks shy of his hundredth birthday, the world said goodbye to famed investor Charlie Munger. Charles Munger, vice chairman of Berkshire Hathaway Corporation, expressing why he thought he and his business partner, Warren Buffett, had been such successful investors for so long.

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