I recently wrote a question for a mock exam about implementation shortfall, and it occurred to me that an article on the subject was long overdue. Implementation shortfall has been the bane of Level III CFA candidates for a few decades now, and for good reason: in the curriculum, there isn’t a straightforward, comprehensive example […]

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If you were to ask (a random sample of) 100 financial advisors what the term “rebalance” means, I wouldn’t be surprised if 95 of them described it as “returning the portfolio to its original weights in each asset class”, or something tantamount to that. In other words, the investing world overwhelmingly equates rebalancing with a […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Membership, CFA® Level III Trade Strategy and Execution Membership

This will give you access to this and all other articles at that membership level.