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<br /> M&A among advisory firms<br /> Ethics and issuer-paid research<br /> What makes great analysts so great?<br /> Now hiring: India's investment industry<br /> Professional development at one of<br /> the world's largest sovereign wealth funds<br /> January/February 2011<br /> Blowing It<br /> The career implications of becoming a whistleblower<br /> Also in This Issue<br /> Global Industry Trends: An Expert Interview<br /> Government Jobs for Investment Professionals<br /> Can proprietary traders survive?<br /> <br /> t<br /> t <br /> SAVE THE DATE<br /> hese<br /> s <br /> WALL STREET IS COMING TO QUINNIPIAC UNIVERSITY<br /> alyst repor<br /> same. <br /> You are invited to the inaugural<br /> e all the<br /> G.A.M.E.<br /> FORUM<br /> ' s hopeless...<br /> GLOBAL ASSET MANAGEMENT EDUCATION<br /> March 31, 2011<br /> <a title="January/February 2011 CFA Magazine page 1" href="http://viewer.zmags.com/publication/e8b4df2a?page=1"> M&A among advisory firms </a> <a title="January/February 2011 CFA Magazine page 2" href="http://viewer.zmags.com/publication/e8b4df2a?page=2"> t t SAVE THE DATE hese s WALL STREET </a> <a title="January/February 2011 CFA Magazine page 3" href="http://viewer.zmags.com/publication/e8b4df2a?page=3"> January/February 2011 COVER STORY 32 Bl</a> <a title="January/February 2011 CFA Magazine page 4" href="http://viewer.zmags.com/publication/e8b4df2a?page=4"> 62 70 DEPARTMENTS 4 Letters </a> <a title="January/February 2011 CFA Magazine page 5" href="http://viewer.zmags.com/publication/e8b4df2a?page=5"> Team with the experts who make your business need</a> <a title="January/February 2011 CFA Magazine page 6" href="http://viewer.zmags.com/publication/e8b4df2a?page=6"> LETTERS Valuation: The Illusion of Precision </a> <a title="January/February 2011 CFA Magazine page 7" href="http://viewer.zmags.com/publication/e8b4df2a?page=7"> The editor welcomes the views and opin- ions of r</a> <a title="January/February 2011 CFA Magazine page 8" href="http://viewer.zmags.com/publication/e8b4df2a?page=8"> IN SUMMARY Sliding Down the Banister of Life </a> <a title="January/February 2011 CFA Magazine page 9" href="http://viewer.zmags.com/publication/e8b4df2a?page=9"> </a> <a title="January/February 2011 CFA Magazine page 10" href="http://viewer.zmags.com/publication/e8b4df2a?page=10"> In Focus Licensing Is Coming: Are We Ready? </a> <a title="January/February 2011 CFA Magazine page 11" href="http://viewer.zmags.com/publication/e8b4df2a?page=11"> Jed Schneider, CIPM Executive Director, Performan</a> <a title="January/February 2011 CFA Magazine page 12" href="http://viewer.zmags.com/publication/e8b4df2a?page=12"> Viewpoint The Proper Care and Feeding of Great An</a> <a title="January/February 2011 CFA Magazine page 13" href="http://viewer.zmags.com/publication/e8b4df2a?page=13"> valuation methodology or valuation multiple super</a> <a title="January/February 2011 CFA Magazine page 14" href="http://viewer.zmags.com/publication/e8b4df2a?page=14"> For both buy-side and sell-side analysts, as expe</a> <a title="January/February 2011 CFA Magazine page 15" href="http://viewer.zmags.com/publication/e8b4df2a?page=15"> Viewpoint Staying a Step Ahead Can proprietary t</a> <a title="January/February 2011 CFA Magazine page 16" href="http://viewer.zmags.com/publication/e8b4df2a?page=16"> Another hurdle for undercapitalized trader</a> <a title="January/February 2011 CFA Magazine page 17" href="http://viewer.zmags.com/publication/e8b4df2a?page=17"> Viewpoint Tech My Advice Is information technolo</a> <a title="January/February 2011 CFA Magazine page 18" href="http://viewer.zmags.com/publication/e8b4df2a?page=18"> 12 Stay connected Update y</a> <a title="January/February 2011 CFA Magazine page 19" href="http://viewer.zmags.com/publication/e8b4df2a?page=19"> Market INTEGRITY Beyond Business as Usual Disc</a> <a title="January/February 2011 CFA Magazine page 20" href="http://viewer.zmags.com/publication/e8b4df2a?page=20"> Market INTEGRITY Trade Transparency under MiFID</a> <a title="January/February 2011 CFA Magazine page 21" href="http://viewer.zmags.com/publication/e8b4df2a?page=21"> FIGURE 2 MARKET SHARE BY TRADE TYPE, JANUARY 20</a> <a title="January/February 2011 CFA Magazine page 22" href="http://viewer.zmags.com/publication/e8b4df2a?page=22"> Market INTEGRITY GIPS Guidance Statements Relea</a> <a title="January/February 2011 CFA Magazine page 23" href="http://viewer.zmags.com/publication/e8b4df2a?page=23"> Independent Directors in Asia: Quality versus Qua</a> <a title="January/February 2011 CFA Magazine page 24" href="http://viewer.zmags.com/publication/e8b4df2a?page=24"> Verified, but are you Red flags that you may have </a> <a title="January/February 2011 CFA Magazine page 25" href="http://viewer.zmags.com/publication/e8b4df2a?page=25"> Ethics FORUM Conducting Issuer-Paid Research </a> <a title="January/February 2011 CFA Magazine page 26" href="http://viewer.zmags.com/publication/e8b4df2a?page=26"> Data Forensics Program In the November/December</a> <a title="January/February 2011 CFA Magazine page 27" href="http://viewer.zmags.com/publication/e8b4df2a?page=27"> DISCIPLINARY NOTICES Timed Suspensions</a> <a title="January/February 2011 CFA Magazine page 28" href="http://viewer.zmags.com/publication/e8b4df2a?page=28"> Standards IN PRACTICE Eagle Eye A</a> <a title="January/February 2011 CFA Magazine page 29" href="http://viewer.zmags.com/publication/e8b4df2a?page=29"> assets, including real estate, cars, yachts, or m</a> <a title="January/February 2011 CFA Magazine page 30" href="http://viewer.zmags.com/publication/e8b4df2a?page=30"> Standards IN PRACTICE PRACTICE PROFES</a> <a title="January/February 2011 CFA Magazine page 31" href="http://viewer.zmags.com/publication/e8b4df2a?page=31"> an account at a recognized financial institution,</a> <a title="January/February 2011 CFA Magazine page 32" href="http://viewer.zmags.com/publication/e8b4df2a?page=32"> Private CLIENT CORNER Time to Sell? M&A acti</a> <a title="January/February 2011 CFA Magazine page 33" href="http://viewer.zmags.com/publication/e8b4df2a?page=33"> of market volatility and because of the challenge</a> <a title="January/February 2011 CFA Magazine page 34" href="http://viewer.zmags.com/publication/e8b4df2a?page=34"> BLOWING Warning: Whistleblowing May Be Hazardous </a> <a title="January/February 2011 CFA Magazine page 35" href="http://viewer.zmags.com/publication/e8b4df2a?page=35"> H ollywood has a fascination with i</a> <a title="January/February 2011 CFA Magazine page 36" href="http://viewer.zmags.com/publication/e8b4df2a?page=36"> WHAT MAKES A TRUE CFA CHARTERHOLDER “It's ext</a> <a title="January/February 2011 CFA Magazine page 37" href="http://viewer.zmags.com/publication/e8b4df2a?page=37"> Handbook: How to Be an Effective Resister by Bria</a> <a title="January/February 2011 CFA Magazine page 38" href="http://viewer.zmags.com/publication/e8b4df2a?page=38"> I reported this activity. I knew I was jeopardizi</a> <a title="January/February 2011 CFA Magazine page 39" href="http://viewer.zmags.com/publication/e8b4df2a?page=39"> I lost at least US$3 million or more as well as m</a> <a title="January/February 2011 CFA Magazine page 40" href="http://viewer.zmags.com/publication/e8b4df2a?page=40"> “ A PURE AND TRUE Long-Term Investor</a> <a title="January/February 2011 CFA Magazine page 41" href="http://viewer.zmags.com/publication/e8b4df2a?page=41"> Can you describe these programs? We've </a> <a title="January/February 2011 CFA Magazine page 42" href="http://viewer.zmags.com/publication/e8b4df2a?page=42"> How has participation in the CFA Institu</a> <a title="January/February 2011 CFA Magazine page 43" href="http://viewer.zmags.com/publication/e8b4df2a?page=43"> and accountability arrangements as well as the pr</a> <a title="January/February 2011 CFA Magazine page 44" href="http://viewer.zmags.com/publication/e8b4df2a?page=44"> AT YOUR {PUBLIC SERVICE C ALL IT PUBLI</a> <a title="January/February 2011 CFA Magazine page 45" href="http://viewer.zmags.com/publication/e8b4df2a?page=45"> A Newly Attentive Audience Gervais says</a> <a title="January/February 2011 CFA Magazine page 46" href="http://viewer.zmags.com/publication/e8b4df2a?page=46"> budget-related work, whether for a government age</a> <a title="January/February 2011 CFA Magazine page 47" href="http://viewer.zmags.com/publication/e8b4df2a?page=47"> One Example Most people will find thems</a> <a title="January/February 2011 CFA Magazine page 48" href="http://viewer.zmags.com/publication/e8b4df2a?page=48"> A Charterholder Who Made the Transition Intervie</a> <a title="January/February 2011 CFA Magazine page 49" href="http://viewer.zmags.com/publication/e8b4df2a?page=49"> SAVE THE DATE WALL STREET IS COMING TO Q</a> <a title="January/February 2011 CFA Magazine page 50" href="http://viewer.zmags.com/publication/e8b4df2a?page=50"> The Once and Future INVESTMENT MANAGEMENT Industr</a> <a title="January/February 2011 CFA Magazine page 51" href="http://viewer.zmags.com/publication/e8b4df2a?page=51"> What did you observe in your study </a> <a title="January/February 2011 CFA Magazine page 52" href="http://viewer.zmags.com/publication/e8b4df2a?page=52"> modeling and risk management skills and macroecon</a> <a title="January/February 2011 CFA Magazine page 53" href="http://viewer.zmags.com/publication/e8b4df2a?page=53"> What about boutiques? Investors also wa</a> <a title="January/February 2011 CFA Magazine page 54" href="http://viewer.zmags.com/publication/e8b4df2a?page=54"> THE CASE OF THE Waltzing Elephant Thrid in a s</a> <a title="January/February 2011 CFA Magazine page 55" href="http://viewer.zmags.com/publication/e8b4df2a?page=55"> government has floated a policy-discussion paper </a> <a title="January/February 2011 CFA Magazine page 56" href="http://viewer.zmags.com/publication/e8b4df2a?page=56"> try's four major airports are cited as examples. </a> <a title="January/February 2011 CFA Magazine page 57" href="http://viewer.zmags.com/publication/e8b4df2a?page=57"> market pricing for multiple buyers. Plans </a> <a title="January/February 2011 CFA Magazine page 58" href="http://viewer.zmags.com/publication/e8b4df2a?page=58"> Downside Risks Recent aggressive enforc</a> <a title="January/February 2011 CFA Magazine page 59" href="http://viewer.zmags.com/publication/e8b4df2a?page=59"> “One has to become `Indian' before looking to</a> <a title="January/February 2011 CFA Magazine page 60" href="http://viewer.zmags.com/publication/e8b4df2a?page=60"> set of managers to back. “It's difficult to find </a> <a title="January/February 2011 CFA Magazine page 61" href="http://viewer.zmags.com/publication/e8b4df2a?page=61"> Asia-Pacific FOCUS Asia–Pacific Markets Transfo</a> <a title="January/February 2011 CFA Magazine page 62" href="http://viewer.zmags.com/publication/e8b4df2a?page=62"> CFA Institute BRIEFS CFA Institute Introduces</a> <a title="January/February 2011 CFA Magazine page 63" href="http://viewer.zmags.com/publication/e8b4df2a?page=63"> EMEA VOICE European Trends in Jobs, Pay and Em</a> <a title="January/February 2011 CFA Magazine page 64" href="http://viewer.zmags.com/publication/e8b4df2a?page=64"> CFA Institute BRIEFS Growing Global IRC Parti</a> <a title="January/February 2011 CFA Magazine page 65" href="http://viewer.zmags.com/publication/e8b4df2a?page=65"> CFA Institute, Bloomberg Co-Sponsor ESG Event CF</a> <a title="January/February 2011 CFA Magazine page 66" href="http://viewer.zmags.com/publication/e8b4df2a?page=66"> Society BRIEFS A Hot Spot of Interest How and</a> <a title="January/February 2011 CFA Magazine page 67" href="http://viewer.zmags.com/publication/e8b4df2a?page=67"> The CFA Society of Orlando held its financial and</a> <a title="January/February 2011 CFA Magazine page 68" href="http://viewer.zmags.com/publication/e8b4df2a?page=68"> Society BRIEFS </a> <a title="January/February 2011 CFA Magazine page 69" href="http://viewer.zmags.com/publication/e8b4df2a?page=69"> Society BRIEFS The CFA Society of Nebraska</a> <a title="January/February 2011 CFA Magazine page 70" href="http://viewer.zmags.com/publication/e8b4df2a?page=70"> EDUCATION CALENDAR ASIA PACIFIC 7 Jan </a> <a title="January/February 2011 CFA Magazine page 71" href="http://viewer.zmags.com/publication/e8b4df2a?page=71"> Announcing two time- saving online research tools</a> <a title="January/February 2011 CFA Magazine page 72" href="http://viewer.zmags.com/publication/e8b4df2a?page=72"> Chapter 10 QE or Not QE? Why is the Federal Rese</a> <a title="January/February 2011 CFA Magazine page 73" href="http://viewer.zmags.com/publication/e8b4df2a?page=73"> But wait a minute! The recession was decla</a> <a title="January/February 2011 CFA Magazine page 74" href="http://viewer.zmags.com/publication/e8b4df2a?page=74"> Chapter 10 for the Baltimore Sun. Darrow put Brya</a> <a title="January/February 2011 CFA Magazine page 75" href="http://viewer.zmags.com/publication/e8b4df2a?page=75"> In a competitive environment, career growth requi</a> <a title="January/February 2011 CFA Magazine page 76" href="http://viewer.zmags.com/publication/e8b4df2a?page=76"> No Matter How You Say It, AFG Speaks Globa</a>