07/01/2015

Review: The New Economics of Liquidity and Financial Frictions by David Adler

The New Economics of Liquidity and Financial Frictions is a book about a new branch of economics that is largely a synthesis of macro and finance. In many ways, it is a radical departure from the older, frictionless approach still prevalent in economic textbooks and most of academia. This book provides a new understanding and approach to asset pricing, risk measurement and management, central banking policy, and the overall working of today’s economy, including questions of financial stability.

Continue reading "Review: The New Economics of Liquidity and Financial Frictions by David Adler" »


uCONN

06/17/2015

Banks’ Financial Reporting and Financial System Stability by Prof. Viral Acharya

Vacharya_photoThe use of accounting measures and disclosures in bank contracts and in regulation suggests that the quality of banks’ financial reporting is central to the efficacy of market discipline and non-market mechanisms in limiting bank debt and risk overhang in good economic times, as well as mitigating the consequences of risk overhang that could compromise the stability of the financial system in downturns. Professors Viral Acharya and Stephen Ryan examine how research on banks’ financial reporting, informed by the financial economics literature on banking, can generate insights about how to enhance the stability of the financial system.

Continue reading "Banks’ Financial Reporting and Financial System Stability by Prof. Viral Acharya" »

06/16/2015

Cover Letter Tips

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The cover letter is probably the most underrated component of the job search. If written well, it can pique the curiosity of the employer and motivate him/her to carefully read your resume. If written poorly, the resume may never get read.

Basic Tips

  1. Write to a specific individual - never Dear Sir or Madam.
  2. Tailor your letters - don't mass produce them.
  3. Keep it brief - 3 or 4 SHORT paragraphs will suffice.
  4. Make sure to use terminology that is not too technical - this might come off as arrogant and demonstrates insensitivity to the audience.
  5. Use paper and print which match your resume. Use the same header.

Continue reading "Cover Letter Tips" »


QC

Struggling to Find Good Stock Calls? 10 Tips to Find More Time

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“I have trouble coming up with good stock calls,” is one of the most common concerns I hear when starting a new one-on-one coaching assignment with an analyst.

There are dozens of skills required for great stock picking, but only one that burdens almost all analysts, regardless of experience level or geographic location: time management. To some, the concept of “time management” isn't worthy of being "learned" because they assume it's just a matter of using common sense…and that’s probably why time management is too often overlooked as a source of individual career advancement. If my hypothesis is right, we should coin a new buzzword to make this critically-important skill sound sexier; perhaps one of these:

  • “Efficiency Re-engineering”
  • “Prioritization Intensification”
  • “Accelerated Productivity”

Continue reading "Struggling to Find Good Stock Calls? 10 Tips to Find More Time" »

06/03/2015

Book Review: Lodewijk Petram's The World’s First Stock Exchange

If you have the common, errant idea of the Dutch as universally meticulous, arrogant and deadly boring people, you will not be disappointed by L. Petram’s book, The World’s First Stock Exchange.  Happily of a “European” size—i.e. less than 300 pages—it might though bore you to death. What might have been the fascinating tale of colorful Conraad von Beuningen, a follower of Spinoza sent on ambassadorial missions to both France and England, and eventually Mayor of Amsterdam who went mad after losing his fortune in short selling, is reduced to the technicalities of how he avoided prohibition against short selling. Yet, it is necessary reading and a valuable reference source for scholars with a serious interest in markets, exchanges and financial history.

Continue reading "Book Review: Lodewijk Petram's The World’s First Stock Exchange" »


NYSSA-TV

06/01/2015

Résumé Tips


WallStreetTrainingThis page is intended to serve as a reference for corporate related information, stressing the necessary preparations before the job hunt. This page is NOT intended to teach you how to find a job or where to look for a job. This page has been built with two assumptions in mind. Please keep them in mind as you read this page:

  1. The audience has a clear idea of the type of job they want
  2. The audience is aware of the skills that they possess, but would like tips on how to communicate this across in the job search.
Resume Rule: Never Lie
That's right – never lie on your resume. This cannot be stressed enough. It's the easiest way to lose an interview and is sufficient grounds for dismissal once on the job.

Continue reading "Résumé Tips" »

05/26/2015

11 Things Ultra-Productive People Do Differently

When it comes to productivity, we all face the same challenge—there are only 24 hours in a day. Yet some people seem to have twice the time; they have an uncanny ability to get things done. Even when juggling multiple projects, they reach their goals without fail.

Time is really the only capital that any human being has, and the only thing he can’t afford to lose. —Thomas Edison

It feels incredible when you leave the office after an ultra-productive day. With the right approach, you can make this happen every day. You don’t need to work longer or even do more—you just need to work smarter. Try these 11 productivity hacks that ultra-productive people rely on:

Continue reading "11 Things Ultra-Productive People Do Differently" »

05/21/2015

The Best-Seller for Equity Analysts to Master Their Profession

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The most highly acclaimed and comprehensive learning tool available, Best Practices for Equity Research Analysts is an on-the-job reference filled with the practical knowledge and specific tasks buy-side and sell-side equity analysts need to claim their place among the most highly regarded in their industry.

Most equity research analysts learn their trade on the job, by apprenticing under a senior analyst or portfolio manager. However, these senior producers often have little time to train new analysts. Those who do have the time may not have developed research skills worth emulating (after all, over half of money managers underperform their benchmarks). Furthermore, in modern day equity research, analysts without a mentor don’t have time to learn on their own through trial and error because the stakes are too high.

Continue reading "The Best-Seller for Equity Analysts to Master Their Profession" »

CFA Exam Taking Tips

June is near and CFA candidates all over the world are counting down the days until exam day. All of us at NYSSA wish the best of luck, strong composure, and laser focus to those members of the NYSSA community who took our weekly or condensed review courses, problem solving or essay writing workshops, bootcamps and mock exams!

Because luck is not always enough, here are some easy to remember exam-taking strategy tips from our Lead CFA instructor, O. Nathan Ronen, CFA for you to internalize before exam day:

Continue reading "CFA Exam Taking Tips" »

05/20/2015

Lower Earnings, Higher Stock Prices: The Voting Machine

 “The stock market is a voting machine rather than a weighing machine. It responds to factual data not directly, but only as they affect the decisions of buyers and sellers.”- Graham and Dodd, Security Analysis

Earnings drive stock prices, so says investing lore. As earnings rise, stock prices move higher. As earnings fall, stock prices move lower. If it were only that simple.

Continue reading "Lower Earnings, Higher Stock Prices: The Voting Machine" »

05/14/2015

Canisius College Team Wins International Competition in Financial Analysis

Canisius College
From left, Golden Griffin Fund financial team members Carl Larsson, Ryan Zimmer, Matt Coad, Kevin Monheim and Stephen Miller (not shown) won the CFA Institute Research Challenge Global Championship, emerging first among 4,000 students. Derek Gee/Buffalo News

Five students win international contest testing financial analysis skills

Commencement is around the corner and the real world is waiting, and now Ryan Zimmer can add an impressive credential to his résumé: world champion financial analyst.

Zimmer and four other Canisius College students recently won an international financial analysis skills competition that pitted them against 4,000 students from 865 colleges across the globe.

The Canisius victory marked the first time since 2007 that a team from the United States captured the CFA Institute Research Challenge Global Final title.

Continue reading "Canisius College Team Wins International Competition in Financial Analysis" »

05/06/2015

How 30 Minutes Wasted Could Cost You $5,000

By James Valentine, CFA

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We all have the same 24 hours in a day, but I find some analysts use it much more effectively than others. Based on my experience I don’t sense the level of a person’s time management skills has anything to do with their intelligence, professional experience or even their degree of ambition. It comes down to their level of self-discipline for staying focused.

To help get your attention, let me pose the issue this way: If an analyst is being compensated $100,000 per year, and he wastes just 30 minutes of a typical 10-hour day, that amounts to a loss of $5,000 per year. What would you do with an extra $5,000 a year?

To help frame the issue, let’s take a quiz.

Beware! These Toxic Thoughts are Success Killers

No matter who you are or what you do I am willing to bet that if you are having any of these thoughts below, then you are holding yourself back from achieving great success. As an executive coach, I am fortunate to work with and get into the brilliant minds of the brightest and most successful executives on Wall Street and beyond. Like the rest of us, my clients have insecurities that we work on recognizing and banishing from their minds. Here is the list of thoughts that are surprisingly common and are the greatest offenders to our success.

Beware of these toxic thoughts.

Continue reading "Beware! These Toxic Thoughts are Success Killers" »

Are Equities Overvalued?

MspenceBy Michael Spence

Since the global economic crisis, sharp divergences in economic performance have contributed to considerable stock-market volatility. Now, equity prices are reaching relatively high levels by conventional measures – and investors are starting to get nervous.

The question is whether stock valuations are excessive relative to future earnings potential. The answer depends on two key variables: the discount rate and future earnings growth. A lower discount rate and/or a higher rate of expected earnings growth would justify higher equity valuations.

Continue reading "Are Equities Overvalued?"


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04/23/2015

Museum Launches Book and Website Tracing the “Family Trees” of the 50 Largest US Banks

GoAF jacket_final_line_webThe Museum of American Finance and Columbia Business School Publishing today announced their collaboration on a new book featuring the genealogical “family trees” of the nation’s 50 largest banks alongside beautifully illustrated narrative histories of each bank. The book will officially be released on March 10, 2015.

Authored by renowned financial historians Dr. Robert E. Wright and Dr. Richard Sylla, Genealogy of American Finance explores how 50 financial companies came to dominate the US banking system and their impact on the nation’s political, social and economic growth. A story that spans more than two centuries of war, crisis and opportunity, it reminds readers that American banking was never a fixed enterprise but has evolved in tandem with the country.

Continue reading "Museum Launches Book and Website Tracing the “Family Trees” of the 50 Largest US Banks"»

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CAREER CHATS™ AND
FRIDAY CAREER COFFEES™
CAREER CHATS AND COFFEES

NYSSA Career Chat™: How LinkedIn and Other Media Enhance our Network and Job Opportunities
Thursday, June 11, 2015

Join NYSSA to enjoy free member events and other benefits. You don't need to be a CFA charterholder to join!


CFA® EXAM PREP

CFA® Level I Problem Solving Workshop
Midtown

Monday May 18, 2015 – Wednesday May 20, 2015
Instructor: Carl Crego, PhD, CFA

CFA® Level III Essay Writing Workshop
Midtown

Saturday, May 23, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level II Item Sets Workshop
Midtown

Sunday, May 24, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I Test Taking Strategy & Sample Class
Midtown

Thursday May 28, 2015
Instructor: O. Nathan Ronen, CFA

FREE CFA® Orientation 2015
Midtown

Tuesday June 23, 2015
Instructor: O. Nathan Ronen, CFA

FREE CFA® Level I Test Taking Strategy and Sample Class
Midtown

Thursday June 25, 2015
Instructor: O. Nathan Ronen, CFA

FREE CFA® Level I Test Taking Strategy and Sample Class
Midtown

Tuesday July 21, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I Weekly Review - Session A Thursday
Midtown

Thursday July 23, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I Weekly Review - Session B Tuesdays
Midtown

Tuesday July 28, 2015
Instructor: O. Nathan Ronen, CFA

FREE CFA® Level I Test Taking Strategy and Sample Class
Midtown

Wednesday September 2, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I Weekly Review - Session D Wednesdays/Mondays
Midtown

Wednesday September 9, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I 6-Week Sunday Condensed Review
Midtown

Sunday September 20, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level I 4-Day Boot Camp
Midtown

Thursday November 12, 2015
Instructor: O. Nathan Ronen, CFA


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