CFA Refresher Readings
Member Downloads
Stay up to date in your field with what CFA Program candidates are studying. Download readings by topic and review study sessions from the 2010 CFA Program.
Behavioral Finance
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"Alpha Hunters and Beta Grazers" Martin L. Liebowitz, Financial Analysts Journal (CFA Institute, September/October 2005) Member download (PDF) |
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"Applied Behavioral Finance:
From Theory to Practice"
James W. Ware Member download (PDF) |
Corporate Finance
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"Capital Budgeting" Ch. 2, John Stowe and Jacques R. Gagne, Corporate Finance: A Practical Approach (Wiley, 2008) Member download (PDF) |
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"Cost of Capital" Ch. 3, Yves Courtois, Gene C. Lai, and Pamela Peterson Drake, Corporate Finance: A Practical Approach (Wiley, 2008) Member download (PDF) |
Derivatives and Risk Management
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“Risk Management Applications of
Forward and Futures Strategies” Ch. 6, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003) Member download (PDF) |
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“Risk Management Applications of
Swap Strategies” Ch. 8, Analysis of Derivatives for the CFA® Program, Don Chance (AIMR, 2003) Member download (PDF) |
Equity Investments
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“Free Cash Flow Valuation” Ch. 3, Equity Asset Valuation, John D. Stowe, Thomas R. Robinson, Jerald E. Pinto, and Dennis W. McLeavey (Wiley, 2007) Member download (PDF) |
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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) Member download (PDF) |
Financial Statement Analysis
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"Financial Reporting Standards" Ch. 3, International Financial Statement Analysis, Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2009) Member download (PDF) |
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"Evaluating Financial Reporting
Quality" Ch. 17, International Financial Statement Analysis, Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2009) Member download (PDF) |
Fixed Income
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“Term Structure and Volatility
of Interest Rates”
Ch. 8, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi. (Wiley, 2007) Member download (PDF) |
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“Valuing Bonds with Embedded
Options”
Ch. 9, Fixed Income Analysis, 2nd edition, Frank J. Fabozzi. (Wiley, 2007) Member download (PDF) |
Performance Measurement and Evaluation
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“Global Performance Evaluation” Ch. 12, Global Investments, 6th edition, Bruno Solnik and Dennis McLeavey (Pearson Education, Inc., 2009) Member download (PDF) |
Portfolio Management
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"Are Optimizers Error Maximizers?" Mark Kritzman, The Journal of Portfolio Management (Institutional Investor, 2006) Member download (PDF) / Member discount subscription |
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“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) Member download (PDF) |
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"Asset Allocation Inputs" Ch. 4, Portfolio Management, Stewart, Piros, and Heisler (McGraw-Hill forthcoming) Member download (PDF) |
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"Attribution" Richard Grinold, The Journal of Portfolio Management (Institutional Investor, 2006) Member download (PDF) / Member discount subscription |
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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) Member download (PDF) / Member discount subscription |
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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) Member download (PDF) / Member discount subscription |
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"Five Myths about
Fees" Ronald N. Kahn, Matthew H. Scanlan, and Laurence B. Siegel, The Journal of Portfolio Management (Institutional Investor, 2006) Member download (PDF) / Member discount subscription |
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“Investing in Emerging Stock
Markets” Yesim Tokat and Nelson Wicas, The Journal of Wealth Management (Institutional Investor, 2004) Member download (PDF) / Member discount subscription |
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"Investment Management Process" Ch. 6, Portfolio Management, Stewart, Piros & Heisler (McGraw-Hill, forthcoming) Member download (PDF) |
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“Linking Pension Liabilities to
Assets” Aaron Meder and Renato Staub (UBS Global Asset Management) Member download (PDF) |
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"Structuring the Global Investment
Process" Ch. 13, Global Investments, 6th edition, Bruno Solnik and Dennis McLeavey (Pearson Education, Inc., 2009) Member download (PDF) |
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"Taxes and Private Wealth Management in a Global
Context" Thomas R. Robinson and Stephen M. Horan (CFA Institute, 2008) Member download (PDF) |
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"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) Member download (PDF) |
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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) Member download (PDF) |
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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) Member download (PDF) |
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“Structuring the Global Investment Process” Ch. 13, Global Investments, 6th edition, Bruno Solnik and Dennis McLeavey (Pearson Education, Inc., 2009) Member download (PDF) |
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“Goals-Based Investing: Integrating Traditional and
Behavioral Finance” Daniel Nevins, The Journal of Wealth Management (Institutional Investor, 2004) Member download (PDF) / Member discount subscription |
Quantitative Methods
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“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) Member download (PDF) |
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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) Member download (PDF) |
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“Market Efficiency: A Theoretical Distinction and So
What?” Harry M. Markowitz, Financial Analysts Journal (CFA Institute, September/October 2005) Member download (PDF) |
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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) Member download (PDF) |
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"Asset Allocation Inputs" Ch. 4, Portfolio Management, Stewart, Piros & Heisler (McGraw-Hill, forthcoming) Member download (PDF) |
Standards, Ethics, and Regulations (SER)
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“Ethics in Practice” Philip Lawton (CFA Institute, 2005) Member download (PDF) |
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“The Consultant” Jules A. Huot, Ethics Cases (CFA Institute, 1996: adapted 2005) Member download (PDF) |
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“Pearl Investment Management (A), (B), and
(C)” Glen A. Holden, Jr., Ethics Cases (CFA Institute, 1996: adapted 2005) Member download (PDF) |
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“The Glenarm Company” Glen A. Holden, Jr., Ethics Cases (CFA Institute, 1996; adapted 2005) Member download (PDF) |
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“Preston Partners” Jules A. Huot, Ethics Cases (CFA Institute, 1996; adapted 2005) Member download (PDF) |
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“Super Selection” Paul F. Van Schyndel, Ethics Cases (CFA Institute, 1996; adapted 2005) Member download (PDF) |
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“Trade Allocation: Fair Dealing and
Disclosure” Standards Reporter (AIMR, November/December 1996; adapted 2005) Member download (PDF) |
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“Case Study: Changing Investment Objectives” Standards Reporter (AIMR, January/February 1998; adapted 2005) Member download (PDF) |