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Gradually, CFP Board also raised the ethical standards for CFP professionals, introducing a fiduciary standard on financial planning in 2008 and, in 2020, an expanded fiduciary standard that applies whenever the certificant is giving financial advice.
A Case Study on ‘Satyam Scam’ Accounting Scandal: When the 2008 recession hit the world, India was not only going through a financial crisis but also an ethical crisis. Satyam soon went on to cross the $2billion mark in 2008. 544 in 2008. This was what happened with Satyam Computer Services. 7000 crores.
As a CFP® professional and CFP® Board Ambassador, Marguerita also helps educate the public, policymakers, and media about the benefits of competent, ethical financial planning. Back in 2008, CFP® professional Jeff Rose set out with one intention: create the best financial planner blog in the world. Peter Lazaroff. Guess what?
And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. I was employee number 10. RITHOLTZ: Which is really a pretty big number. billion dollars in AUM.
But it was — on the other hand, it was just a great place, well, first to try it but the second thing is when 2008 came along, it was one of the few places that we’re making money. And then, most importantly, I do love his ethical antenna and his kind of truth-telling obsession that he has. RITHOLTZ: Just not a great fit.
And it stopped in like September of 2008. But no, it was a, it was a scary time and it was, you know, there were, there were like a number of layoffs, you know, there were a couple rounds of layoffs in, you know, within my first two years at Goldman and I didn’t get laid off and I was like, oh, okay, I’m probably safe for a while.
In the last 10 years (2008 through 2017), Berkshire’s shareholders’ equity per share and share price grew at 10.5% Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. These have compounded at an amazing pace that is almost twice the 9.7%
In the last 10 years (2008 through 2017), Berkshire’s shareholders’ equity per share and share price grew at 10.5% Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. These have compounded at an amazing pace that is almost twice the 9.7%
In other words, these investments (or “teams”) are ranked and seeded on a number of factors but one of the main drivers is how hot they recently performed within the past few months or recent year. Put another way, they don’t abide by the same ethics, standards, or even GAAP (Generally Accepted Accounting Principles) that we do.
I mean, I could count them on one hand the number of people who have his depth of knowledge in this space. I — I couldn’t believe the numbers. BALCHUNAS: … I would say the financial crisis of 2008 is when they really kicked in. There are a few people in the world who know as much about ETFs indexing, Vanguard, Jack Bogle.
I mean, how is the CFP Board even going through a process of due diligence, again, innocent till proving guilty in the sense when they have all kinds of disclosures, but at the same time, they’re publicly reprimanding 40 people, 80 people, whatever the number is, in a given year, out of the tens of thousands. Salaske: Right, now.
MCCARTHY: I’d back up actually a little bit further in thinking about how did I get there, because I don’t think it was very obvious actually that I would come out of Yale with an ethics, politics and economics degree — RITHOLTZ: Perfect really, right? 2008 through 2010 was a particularly tough and very formative experience.
Mar 24, 2023 The banking precedent that matters for where we are now isn’t 2008, but the empire-building a decade earlier [link] As I have said before, hand banking regulation back to the states. Do we really want payment networks to be ethics guardians? End interstate banking. Mar 24, 2023 It’s the Most Thankless Job in Banking.
Ben Clymer took a buyout offer from UBS in 2008 right in the middle of the financial crisis and said, “I know what I’m going to do. 2008, you launched a blog after you leave UBS in the midst of the financial crisis. RITHOLTZ: Hey, in 2008, that was not nothing. I know a little bit about that. CLYMER: It started for fun.
Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. Buffett and Munger celebrate good business and investment practices, the potential for human achievement, high ethics and decency to one’s fellow man. for the S&P® 500.
. ~~~ This is Masters in business with Barry Ritholtz on Bloomberg Radio Barry Ritholtz : This weekend on the podcast, ed Hyman returns to talk about all things economic analysis, what’s going on in the world, how he’s built an incredible career, oh my God, 43 times number one ranked in the Institutional investor survey in economics.
Behavioral finance has a number of fathers, including Dick Thor and, and Danny Kahneman. And number theory was just too mind blowing, you know, for me. 00:13:17 [Speaker Changed] So you can often get numbers that are up to more than a hundred percent, you know? For number one, it’s not that big of a tell.
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