CFA Institute

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Kanal • 4 serier

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Non-profit

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Non-profit

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1. FEB.

Roger Urwin: From Strategic Asset Allocation to a Total Portfolio Mindset Description

Roger Urwin, Global Head of Investment Content at Willis Towers Watson, reflects on how leading asset owners are rethinking strategic asset allocation amid faster regime change, rising systemic risk, and growing complexity. In a conversation hosted by Mona Naqvi, Managing Director of Research, Advocacy, and Standards at CFA Institute, he draws on decades of experience advising global funds to explain why a total portfolio mindset is gaining traction—and how it reframes goals, governance, and investment decision-making. The discussion explores what it means to invest through a truly holistic lens, why mindset and organizational design matter as much as models, and how the investment profession may need to evolve for a more uncertain world. Listen to the episode to hear Roger Urwin's perspective on the shift from strategic asset allocation to a total portfolio approach. Chapter Markers 00:00 Introduction and Welcome 01:12 Roger Irwin's Career and Industry Background 04:02 Why Total Portfolio Approach Matters Now 04:58 Origins of Strategic Asset Allocation (SAA) 09:32 Benchmarks, Universality, and Communication Challenges 12:01 How TPA Addresses Complexity 14:47 Accessibility vs Flexibility: SAA vs TPA 16:13 Governance Trade-offs and Organizational Design 17:53 Systems Thinking and Market Disruption 19:16 Ecosystem Thinking, Reflexivity, and Risk Models 21:21 Recalibrating Investment Frameworks 22:56 Is TPA More Resilient Than SAA? 24:27 People, Incentives, and Cultural Barriers 28:49 AI, Human Intelligence, and the Future Analyst 30:46 Human + Artificial Intelligence in Investing 34:48 Managing Systemic Risk and Long-Term Horizons 40:57 Value Creation in a World of Real-Time Information 43:55 Stewardship, System-Level Investing, and Externalities 45:00 Can SAA and TPA Coexist? 47:29 Industry Momentum and What Comes Next 49:36 Closing Thoughts and Series Preview

1. feb.

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50 min.
15. FEB.

Roger Urwin: What a Total Portfolio Approach Looks Like in Practice

What does a total portfolio approach look like inside an investment organization? Roger Urwin, Global Head of Investment Content at Willis Towers Watson, describes how TPA functions in practice, from new roles like the Chief Total Portfolio Officer to the governance structures, data, and decision frameworks that shape portfolio-wide thinking. Speaking with Mona Naqvi, Managing Director of Research, Advocacy, and Standards at CFA Institute, he discusses the guardrails that support disciplined decision-making, the skills and mindsets required to operate across silos, and why resilience, foresight, and systems thinking are becoming core investment competencies. Listen to the episode to understand how asset owners are applying a total portfolio lens in real-world investment organizations. 00:00 – The Evolution of Total Portfolio Approach (TPA) in 2025 01:56 – Crossing the Chasm: TPA Moves Into Mainstream Institutional Investing 07:06 – What Is Top-Down Total Portfolio Approach (Level 3 TPA)? 10:50 – CIO vs. Chief Total Portfolio Officer: Rethinking Portfolio Leadership 19:05 – Dynamic Asset Allocation: How TPA Changes Investment Decisions 26:42 – Governance, Risk Guardrails & Real-Time Portfolio Data 34:28 – Investment Skills for TPA: Systems Thinking & Strategic Foresight 41:20 – From Asset Allocation Model to Investment Operating System

15. feb.

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48 min.
01.12.2025

Greg Fisher, CFA: Complexity Science, Uncertainty & the Future of Asset Management

In 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.

01.12.2025

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1 t. 54 min.
15. JAN.

Ashley Herd: Why Better Managers Drive Better Business Results

Great 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.

15. jan.

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33 min.
15.12.2025

Anna Martirosyan: Ethical AI, Model Governance, and the Future of Responsible Finance

Anna 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

15.12.2025

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26 min.
15.11.2025

Victor Haghani: From The Missing Billionaires to Smarter Risk and Better Decisions

Victor 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.

15.11.2025

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35 min.
01.11.2025

Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior

Risk 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.

01.11.2025

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37 min.
23. JAN.

Simone Ruiz-Vergote: Decoding SFDR 2.0 for Asset Managers and Investors

Simone Ruiz-Vergote, Head of Sustainable Finance Policy Research at MSCI, joins host Nicole Gehrig, Director of Global Industry Standards at CFA Institute, to discuss the European Commission's proposed reforms to the Sustainable Finance Disclosure Regulation (SFDR 2.0). They examine the move toward clearer sustainability product categories, expectations around data and substantiation, and how asset managers can prepare for the next phase of sustainable finance regulation. The conversation also explores global interoperability, the role of transition and impact strategies, and what success could look like for SFDR 2.0 in improving transparency, comparability, and investor confidence. Listen now to gain practical insights into one of the most significant regulatory developments shaping sustainable finance in Europe and beyond.

23. jan.

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36 min.
28.04.2021

Warren Buffett and the "Money Mind"

Bestselling author Robert G. Hagstrom, CFA, senior portfolio manager at EquityCompass, takes listeners on a journey from the time he first heard Warren Buffett talk about a "money mind" to what he learned while researching and writing his latest book, "Warren Buffett: Inside the Ultimate Money Mind," about the mindset and ideas that shaped the legendary investor's investment methods. ____ ► Subscribe to our Take 15 Podcast YouTube channel: https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g?app=desktop ►Transcript: https://cfainst.is/3mZN6lA ►Email us for comments, questions, or appearance requests:Take15podcast@cfainstitute.org ____ Topics discussed: 1:45 Intro 2:50 Robert talks about his new book, Warren Buffett: Inside the Ultimate Money Mind 3:55 Temperament and why it's critical as an element of a money mind? 4:47 What is a money mind? 5:55 Building blocks to a money mind 9:41 How does the average investor emulate Warren Buffett and these building blocks? 11:13 Investing is easier than you think but harder than it looks – Is that temperament? 13:36 Robert's favorite chapter 16:40 The "Woodstock for Capitalists" annual meeting and how many Robert has attended 18:50 What Robert will be listening for at this year's meeting 20:05 Warren Buffett wrote that debt securities face a bleak future – do you agree? 22:12 The perennial question – who will succeed Warren Buffett as Chief Executive? 23:17 The relationship between Warren and Charlie 25:13 Cocktail nugget – One Thousand Ways to Make $1000 by FC Minaker 27:02 Penny scale 28:49 A cocktail nugget about Warren and Charlie ____ Related articles and links: Warren Buffett: Inside the Ultimate Money Mind https://www.wiley.com/en-us/Warren+Buffett%3A+Inside+the+Ultimate+Money+Mind-p-9781119714590 The Warren Buffett Way https://www.amazon.com/Warren-Buffett-Way-Robert-Hagstrom/dp/1118503252 One Thousand Ways to Make $1000 https://www.amazon.com/One-Thousand-Ways-Make-1000-ebook/dp/B0170AKILI/ref=sr_1_3?crid=2NTCHCZ4CVRLR&dchild=1&keywords=1000+way+to+make+1000+dollars&qid=1618843035&sprefix=1000+way+to+make+%2Cstripbooks%2C156&sr=8-3 CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/ ____ Find Robert here: LinkedIn: https://www.linkedin.com/in/roberthagstrom Twitter: https://twitter.com/robertghagstrom?lang=en Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren- foster/ Twitter: https://twitter.com/laurenfosternyc

28.04.2021

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32 min.
07.11.2025

Emma Harvey Smith: Mobilizing Global Capital for a Sustainable Future

Emma Harvey Smith, Managing Director of Partnerships at Green Finance Institute, joins host Paul Moody, Managing Director of Global Partnerships and Client Solutions at CFA Institute, to discuss how finance can drive the transition to a net zero and nature-positive economy. From leading the UK's first green mortgage initiative to scaling impact across nine countries, Emma shares insights on the Green Finance Institute's mission, the importance of collaboration between public and private sectors, and the emerging opportunities in nature-based finance. She also offers valuable advice for professionals eager to enter the sustainability and finance space. Listen now to explore how finance is shaping a more resilient, sustainable world.

07.11.2025

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29 min.

Our mission is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Please check out our collection of podcasts that provide fresh and enlightening takes on issues important to today's financial professionals.

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CFA Institute

Mest populære serier

Roger Urwin: From Strategic Asset Allocation to a Total Portfolio Mindset Description

Roger Urwin: What a Total Portfolio Approach Looks Like in Practice

Greg Fisher, CFA: Complexity Science, Uncertainty & the Future of Asset Management

Ashley Herd: Why Better Managers Drive Better Business Results

Anna Martirosyan: Ethical AI, Model Governance, and the Future of Responsible Finance

Victor Haghani: From The Missing Billionaires to Smarter Risk and Better Decisions

Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior

Simone Ruiz-Vergote: Decoding SFDR 2.0 for Asset Managers and Investors

Warren Buffett and the "Money Mind"

Emma Harvey Smith: Mobilizing Global Capital for a Sustainable Future

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