investment Archives -
Millennials think cash is the best long-term investment. Unsurprisingly, they’re not seeing good returns.
Almost 1 in 3 millennials said cash instruments, such as savings accounts and certificates of deposit, are the best place to invest money they won’t need for the next 10 years. That compares…
Wells Fargo’s wealth management unit has been ordered to pay $ 8.6 million in damages and fees to a client — the former chief executive of retailer OfficeMax — who lost millions of dollars in risky Puerto Rico bonds recommended by his financial advisor.
Sam Duncan, the former CEO of both the office…
CFA Institute, with over 150,000 members, is adding cryptocurrency topics to its curriculum for the first time. The course material will be released in August. A record 227,031 people in 91 countries and territories reportedly registered to take CFA exams this year.
Crypto Added to CFA Curriculum
The world’s largest association of investment professionals, CFA Institute, “is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year,” Bloomberg reported.
A global, not-for-profit organization, CFA Institute offers a range of education and career resources including the Chartered Financial Analyst (CFA) and the Certificate in Investment Performance Measurement (CIPM) designations. Its membership stood at 156,800 at the end of FY2017.
Citing that a majority of the candidates came from Asia, the news outlet elaborated:
A record 227,031 people in 91 countries and territories registered to take CFA exams in June…Material for the 2019 exams will be released in August, giving candidates their first opportunity to start logging a recommended 300 hours of study time.
Crypto – ‘Not a Passing Fad’
The CFA curriculum is organized into three levels. Level I tests “knowledge of the ethical and professional standards.” Level II tests how these standards are applied to situations analysts face. Level III tests how they are applied “in a portfolio management and compliance context.”
Each level currently consists of 10 topics such as quantitative methods, economics, corporate finance, equity management, fixed income, derivatives, and alternative investments.
The crypto addition is part of a new reading called Fintech in Investment Management, Bloomberg conveyed. The institute decided to include it “after industry participants showed surging interest in surveys and focus groups.”
Stephen Horan, the institute’s managing director for general education and curriculum in Charlottesville, Virginia, explained that “the CFA material on crypto and blockchain will appear alongside other fintech subjects including artificial intelligence, machine learning, big data and automated trading.” Citing that “more crypto topics, such as the intersection of virtual currencies and economics, may eventually be added to the curriculum,” he asserted:
We saw the field advancing more quickly than other fields and we also saw it as more durable…This is not a passing fad.
A 27-year-old financial economics student at Columbia University who took the CFA Level I exam in June, Kayden Lee, was quoted by the news outlet saying that “it will be beneficial for us since there’s been a huge expansion and adoption of crypto in our investment universe.”
What do you think of CFA Institute adding crypto topics to its curriculum? Let us know in the comments section below.
Images courtesy of Shutterstock and CFA Institute.
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The London School of Economics, one of the leading academic institutions for higher learning in the world, is the latest university to offer a course on cryptocurrency. For just £1,800, and about sixty hours of learning, you too can be a certified crypto academic.
Certificate Crypto Course
The London School of Economics and Political Science (LSE) has launched a new online certificate course titled “Cryptocurrency Investment and Disruption” headed by Dr Carsten Sørensen, Associate Professor of Information Systems and Innovation. LSE has thus joined the growing list of top notch institutions offering crypto classes such as Cambridge, NYU, Northwestern, Stanford, Wharton and Georgetown, as well as others.
The new LSE crypto educational option seems to be quite accessible as there are no prerequisites for the course and its cost is also not unreasonable at just £1,800. It starts on 14 August 2018, and will take six weeks to complete (excluding orientation) with an estimated commitment of about seven to ten hours per week. This course is also certified by the United Kingdom CPD Certification Service, if that is relevant for you.
“Understand the Causes of Things”
Explaining the rational behind the course, the institution states that, “For over one hundred years, LSE’s motto has been to ‘understand the causes of things’. This online certificate course pairs practical cryptoasset knowledge with the theoretical thought leadership for which LSE is renowned.” In practice, the classes listed seem to offer rather practical investment skills, like how to interact with cryptocurrency exchanges, how to use wallets, and how to evaluate the analytics of an ICO (Initial Coin Offering).
In a more broad perspective, students will also explore how cryptocurrencies will shape the future of money, markets and industries. And the course is meant to provide the information, knowledge and frameworks of blockchain technologies and cryptocurrencies – needed to understand how they operate and the implications for business and the economy. And just to be on the safe side, the institution adds that, “You will not be given cryptocurrency investing advice, or investment or financial advice of any nature.”
Are you interested in attending an academic cryptocurrency course? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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Cryptocurrency analysts are increasingly arguing that the lack of custody services provided by leading players from within the finance industry pose a significant barrier to institutional investors seeking exposure to the cryptocurrency markets.
Lack of Crypto Custody Services Comprises Serious Issue for Institutional Investors
A number of finance professionals have argued that a lack of cryptocurrency services being offered by institutional custodians poses a significant barrier to widespread institutional investment in the virtual currency sector.
Blake Estes of Alston & Bird LLP stated “For chief investment officers, there’s only downside risk in cryptocurrency,” adding that it “would take a leap of faith with a new custodian with no brand recognition. That presents a real risk for them,” during a recent interview with Pensions & Investments.
Mr. Estes of Alston & Bird shares this opinion, stating that “So much of the security of bitcoin and other cryptocurrency rests with who stores that private key, who controls the vault. Blockchain (the technology behind the transfer of assets) itself can’t be hacked, but it all still boils down to who ends up holding the keys. I’d tend to think that pension funds will not venture into uncharted territory until they’re certain about the security of who has custody of the keys.”
Analysts Argue Cryptocurrency Sector is Not Yet Developed Enough for Institutional Custodians
Mark Kinoshita, senior vice president of Callan LLC, believes that the virtual currency industry is still a long way from witnessing institutional custodians offering services to cryptocurrency investors.
“I don’t know that (custodians) are focused on cryptocurrency; I think they’re more focused on blockchain and distributed ledger technology and their use in operations. They’re joining consortiums that are looking at uses in things like cross-border services, clearing, and settlements. Rather than comment on cryptocustody, they’re working with partners in fintech and insurance firms to determine applications of blockchain and (distributed ledger technology) to streamline clearing and settlement processes. They’re still at the exploration stage,” Mr. Kinoshita said.
John Lore, managing partner, Capital Fund Law Group PC, New York, agrees that the cryptocurrency sector is not yet developed enough for institutional custodians, stating “it’s really too soon to determine what cybersecurity risks will need to be dealt with, there aren’t enough custodians who are capable of handling that risk yet. […] If you want a long-term storage of assets in a digital wallet, there are regulatory ways of doing that, but none that are recognized across the large custodians, Once there, it’s an asset that’s very easy to lose, through computer failure or hacking. At the core, that’s a major risk issue.”
“Vicious Cycle” of Custodianship in Crypto
Jonathan Benassaya, founder and CEO of IronChain Capital, attributes the lack of institutional custodianship in the cryptocurrency sector to “vicious cycle” in which “Investors want the infrastructure from custodians,” however, “custodians want investors before they build the infrastructure.”
Despite such, Mr. Benassaya expects that custodians “are not so far” from entering the cryptocurrency industry, stating “You read about cryptocustody because of general news about data hacking and security. They want it safely stored in a vault, like gold. […] The level of custody in crypto is the same as with other assets, except that crypto is self-cleared through the blockchain. Custodians are not so far away from making this happen.”
Do you agree that a lack of trusted custodians providing services to cryptocurrency investors poses a significant barrier to widespread institutional investment in virtual currencies? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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Millennial Living in 2018: Insights for the UK ‘Build-to-Rent’ Sector, a study in conjunction with FTI Consulting, commemorates real estate group Get Living’s 5th anniversary. Focusing on millennials, it found significant portions turning away from traditional stores of value, such as property and home ownership, in favor of crypto assets.
Millennials Turning from Traditional Investments and Toward Crypto
“For Millennials the soaring performance of Bitcoin – followed by an almost equally profound correction – holds more intrigue than the prospect of steady growth in house prices,” Get Living concludes. “This translated to 27% of male Millennials polled believing Bitcoin represents a better investment than property.”
Is this age group “in the vanguard of the new Sharing Society, where people are less interested in following in the footsteps of their home-owning parents and would rather make a fortune from Bitcoin?” asked build-to-rent advocates Get Living. The group “sought to answer these questions and a host of others about Millennials’ lifestyles in ground-breaking research carried out in cities across the UK in March and April 2018.”
That over a quarter of UK males polled, in the 3,065 universe of 21 to 35-year-olds, see crypto as favorable comports nicely with previous studies. In late March of this year, for example, “The Student Loan Report teamed with Pollfish to survey 1,000 current university students with related loan debt, asking one question: Have you ever used student loan money to invest in cryptocurrencies like Bitcoin?” these pages explained. The survey “found that 21.2 percent of current college students with student loan debt have used financial aid money to fund a cryptocurrency investment.” That study itself confirmed a late 2017 Harris Poll, finding that 27% of all millennials preferred bitcoin core (BTC) to traditional stock and bonds.
“The rollercoaster ride in value for Bitcoin has excited many Millennials, with one in five seeing it as an appealing investment proposition compared with relatively slow-moving property values,” Get Living noted. And whatever the actual macroeconomic truth of the matter, a bare majority still hold to legacy investments such as real estate. As to whether still more males, and of course their female counterparts, will continue to move into crypto (and whether this will be for the long term) is anyone’s guess and well beyond the present study’s scope.
Will more millennials move into crypto? Let us know in the comments.
Images via the Pixabay.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.
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President Donald Trump backed away from plans to create tough new restrictions on Chinese investments in the U.S. and U.S. technology exports to China, defusing one fight with Beijing as American business officials try to head off a looming battle over tariffs.
WSJ.com: What’s News Asia
Trump takes softer approach to restricting Chinese investment, backs bipartisan legislation expanding reviewsJune 28, 2018 | dailybusinessnews
President Trump has opted for a softer approach to restricting Chinese investment in sensitive U.S. technologies, backing bipartisan legislation expanding an existing government process for reviewing such deals from China and other nations.
Trump is following a recommendation from the Treasury…
President Trump suggested he will ease off his demands for new restrictions on Chinese investment in technology industries, relying instead a 1988 law being updated by Congress that authorizes the government to review foreign investments for national security problems.
WSJ.com: What’s News Asia