February 2007
Director's Comments
Change is inevitable. In the investment world, as in all aspects of life, we are faced with changes, large and small, on a daily basis. How we choose to react when presented with a new reality - whether we opt to embrace it, fear it, attempt to control it, question it, disagree with it, or even try to change the change - is a decision we can make. But before reacting to the change, first we must attempt to understand it. This is no easy task in the world of investments, particularly in alternatives, where change seems to be occurring at a 'future shock' like clip!
Take the ever-changing regulatory environment. One day hedge funds are required to register with the SEC in the US, the next they aren't. One day thresholds for qualified investors are set at one level, the next a different one. Similarly, new products are constantly emerging while old products evolve into new ones - hybrid mutual funds, hedge fund replication indices, even the recent fixed-income and equity offerings by Citadel, Marshall Wace and Fortress. In the blink of an eye, institutional and retail access to non-traditional investment returns can change, and with it the premises on which businesses and portfolios are built and run.
Whether you represent the buy or sell-side of the industry, as the universe of investment opportunities continues to grow, so too will the challenge to stay informed. At the CAIA Association, we strive to keep our program as up-to-date and our members as in-the-know as possible. It is no easy task but it is our mission and one we hope you share.
E. Craig Asche
Executive Director
March
2007 Exam Appointment Scheduling
Exam Appointment Scheduling: CAIA candidates who have not yet scheduled an exam appointment are encouraged to do so as soon as possible. All exams are scheduled directly through Pearson VUE. If you encounter any scheduling difficulties, please contact Pearson VUE immediately.
Curriculum Readings: Level I Candidates please note: If you have NOT purchased Investments by Bodie Kane and Marcus, please note that two editions are now available. Make sure you purchase the 6th edition! The Level I Study Guide references the 6th edition ONLY (007293414X).
Visit the readings list for the correct ISBN numbers for all current curriculum readings.
Registration for the next exam period (September 10 - 21) opens April 2, 2007.
Info Events
We invite you to join us at one of the following CAIA informational presentations taking place this spring.
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To see the full list, check out the CAIA events list.
Events for Candidates and Members: CAIA Signature Event featuring Mark Anson
One of the greatest pleasures for those of us at the
We're particularly pleased to invite our candidates and
members to the CAIA signature event in
Meet the Board of Directors:
Alexander M. Ineichen, CFA, CAIA
Mr Ineichen joined the CAIA Board of Directors as its third member in 2003,
after becoming an inaugural CAIA member. His deep understanding of the diverse and complex world of alternative
investments, combined with the respect he has earned throughout the financial
sector, made him an ideal addition to our Board of Directors. He has become an invaluable member of the
CAIA in the News
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