Podcast
Enterprising Investor
Hosted by CFA Institute · EN
Enterprising Investor is the flagship podcast of CFA Institute and the definitive program for the investment management industry. As stewards of the investment industry, Enterprising Investor will feature intimate conversations with some of the most influential people from the world of finance about the topics that matter most to investment professionals.
27episodes
Episodes
Newest firstAll episodes
Ashley Herd: Why Better Managers Drive Better Business Results
Jan 1500:33:11Tap to summarizeGreat management isn't a "soft skill" — it's a measurable performance lever. Ashley Herd, founder and CEO of Manager Method and author of The Manager Method: Practical Strategies to Lead with Purpose and Confidence, joins host Mike Wallberg, CFA, to unpack why communication sits at the heart of effective leadership and how small managerial choices ripple through engagement, retention, and profitability. Drawing on her experience as a lawyer, in-house leader, and advisor who has trained more than 250,000 managers, Herd explains why promoting top performers into management roles so often backfires, how leaders can avoid micromanagement without disappearing, and why her "pause, consider, act" framework helps managers handle everything from delegation to performance conversations. The discussion also explores what investors and analysts can learn about management quality by listening closely to leadership behavior — not just the numbers — and why culture and innovation are inseparable from long-term returns. Listen to the full episode of Enterprising Investor to hear practical insights on building better managers, stronger teams, and more resilient businesses.
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Anna Martirosyan: Ethical AI, Model Governance, and the Future of Responsible Finance
Dec 1500:26:01Tap to summarizeAnna Martirosyan, strategy and transactions manager at EY Parthenon, speaks with guest host Lotta Moberg, CFA, about the ethical foundations of AI in finance, including fairness, transparency, model governance, and the risks that arise as firms automate more decisions. Drawing on her chapter in AI in Asset Management: Tools, Applications, and Frontiers, Anna explains how practitioners can use AI responsibly while navigating evolving global regulations. Tune in to hear their full conversation. Read the complete book online: https://rpc.cfainstitute.org/themes/technology/ai-in-asset-management Follow the Financial Thought Exchange podcast for more expert perspectives: https://sites.libsyn.com/545057/site
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Greg Fisher, CFA: Complexity Science, Uncertainty & the Future of Asset Management
Dec 101:53:47Tap to summarizeIn this extended deep dive, guest host Raymond Pang, Senior Researcher at CFA Institute, speaks with Greg Fisher, CFA, about how complexity science can offer a richer lens for understanding uncertainty, market behavior, and the limitations of traditional financial models. Building on themes explored in our recent episode with Richard Bookstaber and Genevieve Hayman — including feedback loops, emergent dynamics, and the need for more adaptive approaches to risk — Fisher expands the discussion to the historical roots of the mechanistic mindset and why a systems-based perspective may benefit investment practitioners. The conversation explores how narratives, structural change, and evolving patterns shape asset prices, and how asset managers can incorporate complexity-informed insights into their research and decision-making. Listen and follow the podcast, and explore our report Reframing Financial Markets as Complex Systems for additional insights: https://rpc.cfainstitute.org/research/reports/2025/reframing-financial-markets-as-complex-systems.
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Victor Haghani: From The Missing Billionaires to Smarter Risk and Better Decisions
Nov 1500:35:29Tap to summarizeVictor Haghani — co-founder of Long-Term Capital Management and founder of Elm Wealth — joins host Mike Wallberg, CFA, to discuss the ideas behind his book The Missing Billionaires: A Guide to Better Financial Decisions. Using the "missing billionaires" puzzle as a starting point, Haghani explores why so many investors struggle with risk sizing, how our instincts often sabotage long-term results, and why dynamic asset allocation makes more sense than sticking to static rules. Listen now to learn how understanding "how much" to invest can be the key to lasting financial success.
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Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior
Nov 100:36:47Tap to summarizeRisk expert and author Richard Bookstaber joins guest host Genevieve Hayman, senior researcher at CFA Institute, to explore why traditional financial models often fail to capture the real dynamics of markets. Drawing from decades of experience — from hedge funds to the US Treasury — Bookstaber unpacks how human behavior, feedback loops, and network effects shape systemic risk and market crises. The conversation delves into how complexity science, agent-based modeling, and new AI tools can help investors build resilience and rethink how risk is managed. Listen to the episode for insights on navigating today's interconnected financial landscape, and read Genevieve's recent report, Reframing Financial Markets as Complex Systems, available at https://rpc.cfainstitute.org/research/reports/2025/reframing-financial-markets-as-complex-systems.
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Christine Mahoney: What the Mercer CFA Institute Global Pension Index Says About the Health of Retirement Systems
Oct 1500:27:50Tap to summarizeMercer Senior Partner Christine Mahoney joins host Mike Wallberg, CFA, to unpack key findings from the Mercer CFA Institute Global Pension Index 2025. She explains how 52 retirement income systems are evaluated on adequacy, sustainability, and integrity—and what those measures reveal about the resilience of retirement systems worldwide. The discussion explores government influence on pension investments, the principle of "retirement first," and the role of policy incentives in balancing national priorities with member outcomes. Listen now to hear what's driving pension reform and innovation globally. Read the full report: https://rpc.cfainstitute.org/research/reports/2025/mercer-cfa-institute-global-pension-index-2025
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Winston Ma, CFA: Sovereign Wealth, AI Strategy, and the Future of Global Capital
Oct 100:33:37Tap to summarizeIn this episode of Enterprising Investor, Winston Ma, CFA, investor, attorney, author, and partner at Dragon Capital, joins guest host and editor of the Enterprising Investor blog, Cathy Scott, to explore how sovereign wealth is reshaping markets in the age of AI and geopolitical rivalry. Drawing on his experience as former head of the North America office for China Investment Corporation, Winston unpacks the unconventional rise of a US sovereign wealth fund, its investments in Intel and critical AI supply chains, and the far-reaching implications for global investors. From governance challenges to co-investment opportunities, he explains why asset managers, advisors, and retail investors alike must view every company through the interconnected lenses of law, finance, technology, and geopolitics. Tune in to hear Winston's insights, and don't miss his blog post, Intel, TikTok, and a US Sovereign Wealth Fund: What It Means for Investors, on Enterprising Investor.
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Mark Higgins, CFA: Private Credit, Caution, and the Lessons of Financial History
Jun 1, 2025Tap to summarizeAt CFA Institute LIVE 2025, returning guest Mark Higgins, CFA, sat down with guest host Lotta Moberg to explore the rise—and risks—of private credit. With a historical perspective and a sharp eye for market cycles, Mark challenges the prevailing optimism, drawing parallels to past investment booms and offering a compelling case for greater caution. He also examines the expanding role of consultants and questions common assumptions in portfolio construction. A must-listen for anyone navigating the complex terrain of private markets.
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Dr. Anja Hochberg: Balancing Risk and Opportunity in Multi-Asset Portfolios
Nov 1, 2023Tap to summarizeIn this episode of Guiding Assets, host Mike Wallberg, CFA, interviews Dr. Anja Hochberg, responsible for multi-asset solutions at Zürcher Kantonalbank. They discuss the challenges of setting asset mix in a volatile market, with topics including real estate, equity markets, and the uncertain global economic outlook. Dr. Hochberg explains the importance of multi-asset portfolios for both institutional and private clients and how they actively manage opportunities and risks. They also explore the migration away from traditional 60-40 portfolios for institutional investors and the drivers behind those changes. Tune in for expert insights on navigating today's investment landscape.
Transcribe →Investment Decision Making for the Emerging Markets Investor
Aug 21, 2019Tap to summarizeIn episode #374, we discuss how emerging markets have been the place where the action is and the future will be. How near is the future for emerging markets? Does investing in emerging markets translate into a superior risk-adjusted performance?
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