of a couple of years ago anytime soon” CONTENTS
PROFESSIONAL INVESTOR | SUMMER 2009
36 the regulars
4
COMMENT
Don’t blame the effi cient markets hypothesis,
argues David Smith.
10
MEMBER PROFILES
PI interviews Lindsay Tomlinson, FSIP, John
Ford, ASIP, Sheila Jamieson, IMC, James
Sellon, CFA, Janelle Woodroffe, Mohammed
Fawaz, IMC, Pascal Vernaeve, IMC, and
Sharon Kane, CFA.
48
CFA UK REPORT
The society continues to make progress in
improving the range and quality of services
offered to members.
32
50
CFA INSTITUTE REPORT
CFA Institute’s Annual Conference brought
together key industry professionals to
share insights on the critical issues facing
fi nancial markets.
54
ADVOCACY
CFA UK responds to the FSA’s paper on
short selling.
56
BOOK REVIEW
Max Hilton, CFA, recommends fi ve new books
whose topics range from the collapse of the
36
THE POLITICS OF MARKETS
global fi nancial system to valuing new, young
Avinash Persaud examines the role of politics in
businesses.
foreign exchange markets and fi nds that political
events have long term implications.
58
VOLUNTEER REPORT
A week in the life of Nicola Ralston, FSIP.
39
EXPLORING PREDICTABILITY IN
INVESTMENT STRATEGIES
60
PEOPLE MOVES
Richard Harris and Elton Babameto use the P-Solve, Artemis, GAM, Collins Stewart, and
Black-Litterman framework to incorporate forecasts Lombard Odier all make member hires.
of value and momentum returns into a portfolio-
based approach.
61
NEW MEMBERS
Profi les of the members who have joined CFA
42
THE FOOTSIE’S FIRST 25 YEARS UK in the last quarter.
Adrian FitzGerald, ASIP, looks at what the fi rst
25 years of the FTSE index can tell us about
71
EVENTS
market ineffi ciencies.
WWW.CFAUK.ORG PROFESSIONAL INVESTOR 3
02-302-3 contents.indd 3contents.indd 3 1/6/091/6/09 11:24:3911:24:39Professional Investor Summer 09.5 5 4/6/09 15:40:42
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