The James R. Vertin Award is presented periodically to recognize individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.
The Research Foundation Leadership Circle honors the following investment professionals whose outstanding commitment and contributions have benefited the CFA Institute Research Foundation.
Answer: Asset cash flows. In A Cash-Flow Focus for Endowments and Trusts, author James P. Garland, CFA, argues that basing spending on investment cash flows, rather than on market values, should result in more stable streams of spendable cash, in addition to other advantages.
VERY CLOSE!
Answer: Asset cash flows. In A Cash-Flow Focus for Endowments and Trusts, author James P. Garland, CFA, argues that basing spending on investment cash flows, rather than on market values, should result in more stable streams of spendable cash, in addition to other advantages.