Lotta Moberg, CFA, and Brian Singer, CFA: Balancing Active and Passive Investment Horizons
Financial Thought Exchange Podcast
Release Date: 10/28/2024
Hedge Funds Explained: Risk, Returns & Due Diligence with Stephen J. Brown, PhD
Financial Thought Exchange Podcast
In this episode of the Financial Thought Exchange, Lotta Moberg, CFA, PhD, speaks with Stephen J. Brown, PhD, Emeritus Professor of Finance at Monash University in Australia and at the Stern School of Business at New York University, and winner of the CFA Institute Research Foundation 2025 James R. Vertin Research Award. Brown discusses the origins of hedge funds, their role as liquidity providers, and why their performance often disappoints relative to public markets. He explains how hedge fund risk differs from traditional market risk, the limits of diversification, and why rigorous due...
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How LLMs Transform Investment Workflows: Fine-Tuning, RAG & Agents with Francesco Fabozzi
Financial Thought Exchange Podcast
In Part 2, Francesco Fabozzi, PhD—Managing Editor of the Journal of Financial Data Science—joins host Lotta Moberg, CFA, PhD, to explore how modern NLP and large language models are reshaping investment management. Building on the technical foundations from Part 1, this episode turns to real-world applications: when to fine‑tune models versus rely on prompt engineering, how retrieval‑augmented generation (RAG) keeps models current with fast‑changing financial information, and why agentic systems are emerging as powerful tools for research automation. Fabozzi explains practical use...
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How NLP Evolved: From Word Counts to Transformers with Francesco Fabozzi, PhD
Financial Thought Exchange Podcast
Francesco Fabozzi, PhD, Managing Editor of the Journal of Financial Data Science, joins Lotta Moberg, CFA, PhD to unpack how natural language processing matured into the powerful tool it is today. The discussion traces early finance‑focused techniques—dictionary counts, sentiment word lists, and sparse document‑term matrices, along with their limits around context and negation. Fabozzi then explains how neural networks introduced embeddings and contextual meaning, paving the way for recurrent models and eventually transformer architectures. He breaks down how self‑attention,...
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Future Quantum Finance Applications & Risks with Oswaldo Zapata, PhD
Financial Thought Exchange Podcast
In the concluding episode, Lotta Moberg, CFA, PhD and Oswaldo Zapata, PhD look toward the future of quantum computing in finance. They discuss potential high‑value applications such as optimization, option pricing, machine learning, and large‑scale simulations. Zapata also highlights the cyber‑security implications of quantum technologies, including the threat of breaking RSA encryption and the urgency of adopting quantum‑safe protocols. The conversation covers industry readiness, from hedge fund research to major institutions investing in quantum capabilities, as well as the emerging...
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Quantum Computing Challenges in Finance with Oswaldo Zapata, PhD
Financial Thought Exchange Podcast
Part 2 explores the technical hurdles shaping quantum computing’s readiness for financial applications. Oswaldo Zapata, PhD and host Lotta Moberg, CFA, PhD discuss qubit quality, error rates, and why today’s devices remain in the “noisy intermediate‑scale quantum” (NISQ) era. The episode breaks down hybrid classical‑quantum approaches, quantum‑inspired algorithms, and the complex process of encoding classical data into quantum states. Zapata explains why portfolio optimization is a promising—but still aspirational—area for quantum speedups, and how current hardware...
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Quantum Computing Basics for Finance with Oswaldo Zapata, PhD
Financial Thought Exchange Podcast
In Part 1 of this three-part interview, host Lotta Moberg, CFA, PhD, speaks with Oswaldo Zapata, PhD, co‑founder of the Quantum Finance Boardroom and contributor to the CFA Institute Research Foundation monograph AI in Asset Management. This episode introduces the fundamentals of quantum computation, outlining how qubits, superposition, and quantum gates differ from classical computing. Zapata explains why quantum systems can process information in exponentially richer ways and discusses the challenges of building reliable qubits in real‑world laboratory environments. The conversation sets...
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Causality in Factor Investing: Marcos López de Prado, PhD & Vincent Zoonekynd, PhD
Financial Thought Exchange Podcast
Marcos López de Prado, PhD and Vincent Zoonekynd, PhD, of Abu Dhabi Investment Authority discuss their Research Foundation brief, Causality and Factor Investing: A Primer. They explore why many factor models fail, the risks of confounder and collider bias, and why factor investing requires a causal—not purely statistical—approach. Learn how causal graphs and theory-driven methods can improve attribution and model design. A must-watch for quantitative researchers and finance professionals seeking deeper insights into risk premia and robust factor modeling.
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Dr. William J. Bernstein on Economic Growth, Passive Investing & Retirement Realities
Financial Thought Exchange Podcast
Larry Siegel speaks with Dr. William J. Bernstein—author, neurologist, and investment thinker—about the pillars of prosperity: property rights, scientific rationalism, capital markets, and infrastructure. They examine cultural influences on economic growth, the Henrich hypothesis on trust, and the future of globalization. Bernstein shares his philosophy on passive investing, liability-matching portfolios, and why TIPS matter for retirees. He also previews a new book with Ed McQuarrie that challenges assumptions about long-term stock returns. A deep dive into history, markets, and...
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De-risking Global Pension Systems with David Knox, PhD
Financial Thought Exchange Podcast
In this episode of the Financial Thought Exchange podcast, host Lotta Moberg, CFA, PhD, speaks with David Knox, PhD, former senior partner at Mercer and author of the Research Foundation brief De-risking Global Pension Systems. Knox explores the complexities of global pension structures, the shift from defined benefit to defined contribution plans, and the growing reliance on private pensions. He discusses demographic pressures, funding challenges, and the importance of governance, regulation, and communication in securing retirement outcomes. A timely conversation for professionals navigating...
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Leadership, Storytelling & Investing: Insights from Sébastien Page, CFA
Financial Thought Exchange Podcast
Sébastien Page, CFA, Head of Global Multi-Asset and CIO at T. Rowe Price, joins the FTE Podcast to explore the intersection of leadership psychology and investment strategy. Drawing from his books Beyond Diversification and The Psychology of Leadership, Page shares how storytelling enhances financial education, the importance of resilience in investing, and how personality traits like openness and agreeableness shape portfolio management. He also reflects on goal-induced blindness, the underrated skill of quitting, and the deeper meaning behind active management. A must-listen for finance...
info_outlineAnthony DeChellis hosts industry veterans Brian Singer, CFA, and Lotta Moberg, CFA, to discuss their recently released CFA Institute Research Foundation brief, Financial Entrepreneurship: Balancing Active and Passive Investment Horizons. The conversation explores the evolution of the asset management industry over the decades, highlighting shifts from traditional investment approaches to innovative strategies. Brian and Lotta share insights from their decade-long collaboration and the journey that led to their current research, shedding light on the changing landscape of finance and investment. Tune in to discover how these developments impact investors and the financial sector as a whole.