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CFA Institute - June Media Highlights

18 June 2009 - FT Article: Curriculum gives charterholders a broad perspective
16 June 2009 - FT Article: Credit crunch causes analysts to rethink rational market theory
03 June 2009 - CFASB June Letter
14 May 2009 - Post-2009 CFA Institute Conference Website Now Available
9 April 2009 - See the results of the 2009 CFASB Survey
6 April 2009 - NTU from Singapore wins 3rd annual CFA Institute Global IRC
20 March 2009 - FGV-SP wins CFA Institute Americas IRC
04 February 2009 - 10 Scholarships announced for the June 2009 Exam
12 January 2009 - Statistics of CFA Society of Brazil
8 January 2009 - Scholarship Program - June 2009 Exam
6 January 2009 - New President and CEO of CFA Institute Announced
9 December 2008 - Announcement of Winner Group of the 1st IRC

What we are doing - be a volunteer!

We are currently working in:
- Organizing the IRC 2009
- Preparing a new propoasal for our societies' Bylaws
- Organizing the University Relations Committee

Recomended webcast and readings (Membeship required)

Recent publications on CFA Institute Site:

The Corporate Governance of Listed Companies: A Manual for Investors
http://www.cfapubs.org/doi/abs/10.2469/ccb.v2005.n6.4003
Comment Letter on Preliminary Views on Financial Statement Presentation (FSP)
http://www.cfainstitute.org/centre/topics/comment/2009/pdf/090414.pdf

What candidates are reading now::

"A Survey of Behavioral Finance"
Ch. 1, Advances in Behavioral Finance, Volume II, Edited by Richard H. Thaler (Princeton University Press, 2005)
https://www.cfainstitute.org/memresources/private/readings/pdf/behav_finance_ss4_barberis.pdf
"Applied Behavioral Finance: From Theory to Practice"
James W. Ware
https://www.cfainstitute.org/memresources/private/readings/pdf/ware_article.pdf
"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)
https://www.cfainstitute.org/memresources/private/readings/pdf/sornette_ch1.pdf
"Free Cash Flow Valuation"
Ch. 3, Equity Asset Valuation, John D. Stowe, Thomas R. Robinson, Jerald E. Pinto, and Dennis W. McLeavey (Wiley, 2007)
http://www.cfapubs.org/doi/pdf/10.2469/inv.v2007.n3.4577.3
"Cost of Capital"
Ch. 3, Yves Courtois, Gene C. Lai, and Pamela Peterson Drake, Corporate Finance: A Practical Approach (Wiley, 2008)
https://www.cfainstitute.org/memresources/private/readings/pdf/corporate_finance_ch3.pdf
"Financial Reporting Standards"
Ch. 3, International Financial Statement Analysis, Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn (CFA Institute, 2009)
http://www.cfapubs.org/doi/pdf/10.2469/inv.v2008.n2.3

1st Investment Research Challenge - CFASB

On december 9th, 2008, the five participating universities (FEA-USP, FGV-SP, IBMEC-RJ, IBMEC-SP and PUC-SP) presented their analysis of the target company, MRV Engenharia S.A., to a panel of experts an the final of the 1st Investment Research Challenge of the CFA Society of Brazil (1st IRC-CFASB).

The winning team was FGV-SP one. The five students will represent tje CFASB in regional challenge of the 3rd Global Investment Research Challenge. IBMEC-SP was second place, and PUC-SP was third place.

On March 19th, 2009 the FGV-SP group won the Amercias Regional IRC in New York City. They beated 11 american universities and 3 canadians.

On April 2nd, 2009, the FGV-SP group participated on the 3rd Global IRC Final, competing with University College Cork, Ireland; Yale University, USA, and Nanyang Technological University, Singapore. The winner was the Nanyang Technological University, Singapore.

We would like to thank to the voluteers in this CFASB initiative!

Advocacy

Investment Analyst registration: CFASB supports CVM's initiative.

The CFA Society of Brazil (CFASB) supports an initiative of the Brazilian Capital Markets Regulator (CVM) exempting candidates that passed CFA tests of part of the tests necessary to the licensing of Investment Analysts.

According to the proposed rule, candidates that have passed the Level II of the CFA program would get their Investment Analysts license provided they are registered by a accredited entity, follow it’s ethical rules and pass an additional test related to national legislation and markets. (see the CVM’s proposal and Society’s support letter)