Rigorous investment analysis involves the consideration of all “known” variables as well as a wide swathe of qualitative considerations of unknown unknowns to the best of one’s creative abilities.

The Chartered Financial Analyst program in my opinion has disintegrated into a nonsense d’jure program that ignores the baseline of historical investment analysis and has simply become a litmus test of political orthodoxy?

If “we” can’t get an earnings forecast for next year reliably correct, can we really be expected to forecast climate for the next 50 years? Is this what we want to be teaching our “children”?

That said, congrats to our own Austin Farris for passing his CFA level 3 this year.