Member Resources Main

CFA Refresher Readings

 

Member Downloads

 

A complete list of all the readings available to you at no additional charge, as part of your member benefit.

 

 

Alternative Investments

 

"Hedge Fund Characteristics and Performance" and "Hedge Fund Characteristics and Risk-Taking Behavior"
Ch. 3 and 4, Hedge Funds, Vikas Agarwal and Narayan Y. Naik (NOW Publishers, 2005)
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"Generating Absolute Returns"
Roger Urwin, Inquire UK Seminar presentation (March 2007)
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"Generating Absolute Returns"
Christopher J. Woods, Inquire UK Seminar presentation (March 2007)
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"Alternative Investment Styles for Institutional Investors: The Endowment Model"
John E. Dunn III, Alternative Investment Quarterly (ISI Publications, First Quarter 2006)
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"2006 Alternative Investment Survey"
John Dyment, Jon Olstein and Annalisa Jones, Alternative Investment Quarterly (ISI Publications, Fourth Quarter 2006)
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"Using and Interpreting the Correlation Coefficient in Hedge Fund of Fund Comparisons"
James A. Knowles, Alternative Investment Quarterly (ISI Publications, Third Quarter 2006)
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"Where Academics and Practitioners Got it Wrong"
Thomas Schneeweis, Alternative Investment Quarterly (ISI Publications, Second Quarter 2006)
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"Do Funds of Funds Add Value?"
Zhiyi Song, CFA, A Capital Guide to Fund of Funds (ISI Publications, 2006)
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"Hong Kong as a Leading Financial Centre in Asia"
Capital Asia (ISI Publications November 2006)
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"Hedge Fund Investment Strategies"
Ch. 2, Hedge Fund of Funds Investing: An Investor’s Guide, Joseph G. Nicholas (Bloomberg Press, 2004)
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"Investing in Hedge Funds"
Ch. 15, Investing in Hedge Funds: Revised and Updated Edition, Joseph G. Nicholas (Bloomberg Press, 2005)
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"After the Initial Allocation"
Ch. 16, Investing in Hedge Funds: Revised and Updated Edition, Joseph G. Nicholas (Bloomberg Press, 2005)
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Assets

 

“Asset Allocation”
Ch. 5, Managing Investment Portfolios: A Dynamic Process, 3rd edition, William F. Sharpe, Peng Chen, Jerald E. Pinto, and Dennis W. McLeavey (Wiley, 2007)
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“Linking Pension Liabilities to Assets”
Aaron Meder and Renato Staub (UBS Global Asset Management)
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"Asset Allocation Inputs"
Ch. 4, Portfolio Management, Stewart, Piros, and Heisler (McGraw-Hill forthcoming)
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"A Factor Approach to Asset Allocation"
Roger G. Clarke, Harindra de Silva, and Robert Murdock, The Journal of Portfolio Management (Institutional Investor, 2005)
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"Are Optimizers Error Maximizers"
Mark Kritzman, The Journal of Portfolio Management (Institutional Investor, 2006)
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Behavioral Finance

 

“Alpha Hunters and Beta Grazers”
Financial Analysts Journal, Martin L. Liebowitz (CFA Institute, September/October 2005)
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"A Survey of Behavioral Finance"
Ch. 1, Advances in Behavioral Finance, Volume II, Edited by Richard H. Thaler (Princeton University Press, 2005)
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Corporate Finance

 

"Capital Budgeting"
Ch. 2 pp. 22 to end of chapter, John Stowe and Jacques R. Gagne, Corporate Finance for the CFA Program (CFA Institute forthcoming)
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"Cost of Capital"
Ch. 3 pp. 18 to end of chapter, Yves Courtois, Gene C. Lai, and Pamela P. Peterson, Corporate Finance for the CFA Program (CFA Institute forthcoming)
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Derivatives

 

“Risk Management Applications of Forward and Futures Strategies”
Ch. 6, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)
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“Risk Management Applications of Swap Strategies”
Ch. 8, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003)
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Economics

  

"The Rationale for Inflation Targeting"
Ch. 2, Inflation Targeting: Lessons from the International Experience, Ben S. Bernanke, Thomas Laubach, Frederic S. Mishkin, and Adam S. Posen (Princeton University Press, 2001)
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"Issues of Design and Implementation"
Ch. 3, Inflation Targeting: Lessons from the International Experience, Ben S. Bernanke, Thomas Laubach, Frederic S. Mishkin, and Adam S. Posen (Princeton University Press, 2001)
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"Lessons from the South Sea Bubble"
Ch. 9, The First Crash: Lessons from the South Sea Bubble, Richard Dale (Princeton University Press, 2004)
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"Conclusion"
Ch. 10, The First Crash: Lessons from the South Sea Bubble, Richard Dale (Princeton University Press, 2004)
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"Financial Crashes: What, How, Why, and When?"
Ch. 1, Why Stock Markets Crash: Critical Events in Complex Financial Systems, Didier Sornette (Princeton University Press, 2004)
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"Fundamentals of Financial Markets"
Ch. 2, Why Stock Markets Crash: Critical Events in Complex Financial Systems, Didier Sornette (Princeton University Press, 2004)
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“The Economic Future of Asia”
Ch. 14, Flying on One Engine: The Bloomberg Book of Master Market Economist, David P. Goldman, edited by Thomas Keene. (Bloomberg, 2005)
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Equity Investments

 

“Free Cash Flow Valuation”
Ch. 3, Equity Asset Valuation, John D. Stowe, Thomas R. Robinson, Jerald E. Pinto, and Dennis W. McLeavey (Wiley, 2007)
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“Residual Income Valuation”
Ch. 5, Equity Asset Valuation, John D. Stowe, Thomas R. Robinson, Jerald E. Pinto, and Dennis W. McLeavey (Wiley, 2007)
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Ethics and Professional Standards

 

“Ethics in Practice”
Philip Lawton (CFA Institute, 2005)
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“The Consultant”
Jules A. Huot, Ethics Cases (CFA Institute, 1996: adapted 2005)
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“Pearl Investment Management (A), (B), and (C)”
Glen A. Holden, Jr., Ethics Cases (CFA Institute, 1996: adapted 2005)
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“Ethics and Investment Management: True Reform”
Marianne M. Jennings, Financial Analysts Journal (CFA Institute, May/June 2005)
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"Local Ethics in a Global World"
Meir Statman, Financial Analysts Journal (CFA Institute, May/June 2007)
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“The Glenarm Company”
Glen A. Holden, Jr., Ethics Cases (CFA Institute, 1996; adapted 2005)
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“Preston Partners”
Jules A. Huot, Ethics Cases (CFA Institute, 1996; adapted 2005)
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“Super Selection”
Paul F. Van Schyndel, Ethics Cases (CFA Institute, 1996; adapted 2005)
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“Trade Allocation: Fair Dealing and Disclosure”
Standards Reporter (AIMR, November/December 1996; adapted 2005)
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“Case Study: Changing Investment Objectives”
Standards Reporter (AIMR, January/February 1998; adapted 2005)
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Financial Statement Analysis

 

"Introduction," "The OJ Model: An Overview," and "Basics of the OJ Model"
Ch. 1-3, Earnings, Earnings Growth and Value, James Ohlson and Zhan Gao (NOW Publishers, 2006)
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Fixed-Income Investments

 

"A Primer on Credit Default Swaps"
Ch. 1, Moorad Choudhry, The Credit Default Swap Basis (Bloomberg Press, 2006)
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"Introduction to Bond Markets"
Ch. 1, Interest Rate Models: An Introduction, Andrew J.G. Carins (Princeton University Press, 2004)
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"Arbitrage-Free Pricing"
Ch. 2, Interest Rate Models: An Introduction, Andrew J.G. Carins (Princeton University Press, 2004)
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“Term Structure and Volatility of Interest Rates”
Ch. 8, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi. (Wiley, 2007)
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“Valuing Bonds with Embedded Options”
Ch. 9, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi. (Wiley, 2007)
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Portfolio Management

 

"Investment Management Process"
Ch. 6, Portfolio Management, Stewart, Piros & Heisler (McGraw-Hill, forthcoming)
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“Global Performance Evaluation”
Ch. 12, pp. 626-648, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003)
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"Structuring the Global Investment Process"
Ch. 13, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003)
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“Compared to What? A Debate on Picking Benchmarks”
Susan Belden and M. Barton Waring, The Journal of Investing (Institutional Investor, 2001)
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"Attribution"
Richard Grinold, The Journal of Portfolio Management (Institutional Investor, 2006)
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“Investing in Emerging Stock Markets”
Yesim Tokat and Nelson Wicas, The Journal of Wealth Management (Institutional Investor, 2004)
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"Five Myths about Fees"
Ronald N. Kahn, Matthew H. Scanlan, Laurence B. Siegel, The Journal of Portfolio Management (Institutional Investor, 2006)
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Private Wealth Management

  

"Life-Cycle Investing"
Ch. 3, Investment Management for Taxable Private Investors, Jarrod Wilcox, Jeffrey E. Horvitz, and Dan diBartolomeo (The Research Foundation of CFA Institute, 2006)
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Excerpts from “Lifestyle, Wealth Transfer and Asset Classes” and “Techniques for Improving After-Tax Investment Performance”
Ch. 4 and Ch. 6, Investment Management for Taxable Private Investors, Jarrod Wilcox, Jeffrey E. Horvitz, and Dan diBartolomeo (The Research Foundation of CFA Institute, 2006)
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“Managing Individual Investor Portfolios”
Ch. 2, Managing Investment Portfolios: A Dynamic Process, 3rd edition, James W. Bronson, Matthew H. Scanlan, and Jan R. Squires (Wiley, 2007)
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"Asset Allocation for High-Net-Worth Investors"
Global Perspectives on Investment Management: Learning from the Leaders, Dan diBartolomeo (CFA Institute, 2006)
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“Structuring the Global Investment Process”
Ch. 13, pp. 695-735, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003)
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"Introduction"
Ch. 1, Investors and Markets: Portfolio Choices, Asset Prices, and Investment Advice, William F. Sharpe (Princeton University Press, 2006)
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“Goals-Based Investing: Integrating Traditional and Behavioral Finance”
Daniel Nevins, The Journal of Wealth Management (Institutional Investor, 2004)
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"Making Investment Choices as Simple as Possible, but Not Simpler"
Zvi Bodie and Jonathan Treussard, Financial Analysts Journal (CFA Institute, May/June 2007)
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"The Sources and Impact of Taxes on Investment Returns"
Ch. 2, Tax Aware Investment Management: The Essential Guide, Douglas S. Rogers (Bloomberg Press, 2006)
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"Practices of Elite Tax-Aware Equity Active Managers"
Ch. 11, Tax Aware Investment Management: The Essential Guide, Douglas S. Rogers (Bloomberg Press, 2006)
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Quantitative Methods

 

“Time-Series Analysis”
Ch. 10, Quantitative Methods for Investment Analysis, 2nd edition, Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle (Wiley, 2007)
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“Portfolio Concepts”
Ch. 11, Quantitative Methods for Investment Analysis, 2nd edition,Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle (Wiley, 2007)
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A Note on Harry M. Markowitz’s “Market Efficiency: A Theoretical Distinction and So What?”
prepared by Adam Kobor (CFA Institute, 2006)
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"Asset Allocation Inputs"
Ch. 4, Portfolio Management, Stewart, Piros & Heisler. (McGraw-Hill, forthcoming)
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Risk Management

 

"Forty Thieves: The Many Kinds of Economic Risks"
Ch. 4, The New Financial Order: Risk in the 21st Century, Robert J. Shiller (Princeton University Press, 2004)
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"The Science of Psychology Applied to Risk Management"
Ch. 6, The New Financial Order: Risk in the 21st Century, Robert J. Shiller (Princeton University Press, 2004)
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"Tail Tales"
Christopher Wright, CFA Magazine (CFA Institute, March/April 2007)
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