Great management isn't a "soft skill" — it's a measurable performance lever. Ashley Herd, founder and CEO of Manager Method and author of The Manager Method: Practical Strategies to Lead with Purpose and Confidence, joins host Mike Wallberg, CFA, to unpack why communication sits at the heart of effective leadership and how small managerial choices ripple through engagement, retention, and profitability. Drawing on her experience as a lawyer, in-house leader, and advisor who has trained more than 250,000 managers, Herd explains why promoting top performers into management roles so often backfires, how leaders can avoid micromanagement without disappearing, and why her "pause, consider, act" framework helps managers handle everything from delegation to performance conversations. The discussion also explores what investors and analysts can learn about management quality by listening closely to leadership behavior — not just the numbers — and why culture and innovation are inseparable from long-term returns.

Listen to the full episode of Enterprising Investor to hear practical insights on building better managers, stronger teams, and more resilient businesses.

Anna Martirosyan, strategy and transactions manager at EY Parthenon, speaks with guest host Lotta Moberg, CFA, about the ethical foundations of AI in finance, including fairness, transparency, model governance, and the risks that arise as firms automate more decisions. Drawing on her chapter in AI in Asset Management: Tools, Applications, and Frontiers, Anna explains how practitioners can use AI responsibly while navigating evolving global regulations.

Tune in to hear their full conversation.

Read the complete book online: https://rpc.cfainstitute.org/themes/technology/ai-in-asset-management

Follow the Financial Thought Exchange podcast for more expert perspectives: https://sites.libsyn.com/545057/site

In this extended deep dive, guest host Raymond Pang, Senior Researcher at CFA Institute, speaks with Greg Fisher, CFA, about how complexity science can offer a richer lens for understanding uncertainty, market behavior, and the limitations of traditional financial models. Building on themes explored in our recent episode with Richard Bookstaber and Genevieve Hayman — including feedback loops, emergent dynamics, and the need for more adaptive approaches to risk — Fisher expands the discussion to the historical roots of the mechanistic mindset and why a systems-based perspective may benefit investment practitioners. The conversation explores how narratives, structural change, and evolving patterns shape asset prices, and how asset managers can incorporate complexity-informed insights into their research and decision-making.

Listen and follow the podcast, and explore our report Reframing Financial Markets as Complex Systems for additional insights:

https://rpc.cfainstitute.org/research/reports/2025/reframing-financial-markets-as-complex-systems.

Victor Haghani — co-founder of Long-Term Capital Management and founder of Elm Wealth — joins host Mike Wallberg, CFA, to discuss the ideas behind his book The Missing Billionaires: A Guide to Better Financial Decisions. Using the "missing billionaires" puzzle as a starting point, Haghani explores why so many investors struggle with risk sizing, how our instincts often sabotage long-term results, and why dynamic asset allocation makes more sense than sticking to static rules. Listen now to learn how understanding "how much" to invest can be the key to lasting financial success.

Risk expert and author Richard Bookstaber joins guest host Genevieve Hayman, senior researcher at CFA Institute, to explore why traditional financial models often fail to capture the real dynamics of markets. Drawing from decades of experience — from hedge funds to the US Treasury — Bookstaber unpacks how human behavior, feedback loops, and network effects shape systemic risk and market crises. The conversation delves into how complexity science, agent-based modeling, and new AI tools can help investors build resilience and rethink how risk is managed. Listen to the episode for insights on navigating today's interconnected financial landscape, and read Genevieve's recent report, Reframing Financial Markets as Complex Systems, available at https://rpc.cfainstitute.org/research/reports/2025/reframing-financial-markets-as-complex-systems.

Mercer Senior Partner Christine Mahoney joins host Mike Wallberg, CFA, to unpack key findings from the Mercer CFA Institute Global Pension Index 2025. She explains how 52 retirement income systems are evaluated on adequacy, sustainability, and integrity—and what those measures reveal about the resilience of retirement systems worldwide. The discussion explores government influence on pension investments, the principle of "retirement first," and the role of policy incentives in balancing national priorities with member outcomes. Listen now to hear what's driving pension reform and innovation globally. Read the full report:

https://rpc.cfainstitute.org/research/reports/2025/mercer-cfa-institute-global-pension-index-2025

In this episode of Enterprising Investor, Winston Ma, CFA, investor, attorney, author, and partner at Dragon Capital, joins guest host and editor of the Enterprising Investor blog, Cathy Scott, to explore how sovereign wealth is reshaping markets in the age of AI and geopolitical rivalry. Drawing on his experience as former head of the North America office for China Investment Corporation, Winston unpacks the unconventional rise of a US sovereign wealth fund, its investments in Intel and critical AI supply chains, and the far-reaching implications for global investors. From governance challenges to co-investment opportunities, he explains why asset managers, advisors, and retail investors alike must view every company through the interconnected lenses of law, finance, technology, and geopolitics.

Tune in to hear Winston's insights, and don't miss his blog post, Intel, TikTok, and a US Sovereign Wealth Fund: What It Means for Investors, on Enterprising Investor.

Rob Arnott, founder and chairman of Research Affiliates, joins The Enterprising Investor to challenge long-held assumptions about the equity risk premium and asset allocation. Drawing on Fear, Not Risk, Explains Asset Pricing, the provocative paper he co-authored with Edward McQuarrie, Arnott explores why markets may reward investors less for traditional risk-taking than previously believed, and how fear—both of loss and of missing out—better explains investor behavior. From historical return data to the role of AI in gauging market sentiment, Arnott offers a bold framework that could reshape modern finance. Tune in to rethink the foundations of modern asset pricing.

Learn more about Rob Arnott: https://rpc.cfainstitute.org/voices-of-influence/rob-arnott

Mike mentioned "Stocks for the Long Run" article by Ed McQuarrie and others, you can find that here: https://www.tandfonline.com/doi/full/10.1080/0015198X.2023.2268556

This show is made possible through partnerships with sponsors like Tenzing MEMO.

Tenzing MEMO gets professionals up to speed quickly on ~6,000 public companies with real-time research, topical briefings, and intelligent Q&A derived from the latest market data, filings, news, and transcripts. Use MEMO to go from 0 to 60 fast on your watchlist, competitors, clients, and your own company, too. Register for a free trial to see what Tenzing MEMO can do for you today.

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• Real-world use cases for tokenized securities
• The role of blockchain in reducing settlement times and costs
• How tokenization parallels ADRs in global investing
• The regulatory landscape for stablecoins and digital assets
• The investment case for Bitcoin and select cryptocurrencies

This show is made possible through partnerships with sponsors like Tenzing MEMO.

Tenzing MEMO gets professionals up to speed quickly on ~6,000 public companies with real-time research, topical briefings, and intelligent Q&A derived from the latest market data, filings, news, and transcripts. Use MEMO to go from 0 to 60 fast on your watchlist, competitors, clients, and your own company, too. Register for a free trial to see what Tenzing MEMO can do for you today. Visit their website and give it a try. https://www.tenzingmemo.com/

CFA Institute Research and Policy Center senior investment data scientist Brian Pisaneschi, CFA, breaks down the future of AI in investing—covering retrieval-augmented generation (RAG), agentic workflows, and why human creativity remains your strongest edge. Discover how to pair large language models with accurate data to cut through noise, reduce hallucinations, and make smarter decisions. Listen now to sharpen your AI investing skills—and explore Brian's in-depth articles on the CFA Institute Research and Policy Center website, rpc.cfainstitute.org.

At CFA Institute LIVE 2025, guest host Chris Wiese, CFA, managing director of \education at CFA Institute, sat down with Mark Anson, CFA, CEO of Commonfund, for a wide-ranging conversation on how institutional investors can adapt to today's shifting global landscape. Drawing on leadership experience at CalPERS, British Telecom Pension Scheme, and Nuveen, Anson reflects on regulatory complexity, the evolution of global equity markets, and why a 30/30/40 allocation model remains relevant. The episode explores emerging market opportunities, accessing the illiquidity premium in private capital, and how rising uncertainty—from geopolitical shifts to potential changes in endowment taxation—is shaping portfolio strategy. Anson also shares thoughtful advice for early-career professionals on developing global perspective and getting the most out of the CFA® charter. Tune in for a timely conversation on building resilient portfolios in an increasingly interconnected—and unpredictable—world.