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Pablo Fernández

Pablo Fernández

Pablo Fernández is Professor of Financial Management PricewaterhouseCoopers Chair of Corporate Finance / Nissan Chair of Corporate Strategy and International Competitiveness Finance at IESE Business School in Madrid, Spain. Prof. Fernández was awarded his Ph.D. and M.A. in business economics from Harvard University. He also holds an M.B.A. from IESE and a degree in industrial engineering from the University of Navarra in San Sebastian. Before embarking on a career in academia, Prof. Fernández was the financial analyst and financial coordinator of Pepsi Cola for the south of Europe (Portugal, Spain, Italy, Libya and Malta) in Spain, a position he also held in Rome where he simultaneously took up the financial management for the Mediterranean Region (Egypt, Turkey, Lebanon and Jordan) and Sudan. He can be reached at fernandezpa@iese.edu.

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LETTER FROM THE EDITOR

As an organization, the MTA has a strong sense of history. One of the ways the MTA chronicles the history of technical analysis and the organization is through its Annual Awards program. Individuals from the past who have made contributions to the field are honored at the Annual Symposium. This year, six individuals were commended for their work and we present small summaries of their accomplishments. We also include history in this newsletter as often as possible. This month, we conclude with a summary of the Darvas Box, a trading technique developed by Nicolas Darvas. Although better known as a dancer than a market analyst, Darvas wrote a New York Times Best Seller in the late 1950s that highlighted the value of technical analysis to the public. Technicians working with screening software can easily automate his approach instead of relying on weekly issues of Barron’s as Darvas did more than fifty years ago. This issue also offers an extract of a recent academic paper that discusses some of the topics that are explained poorly in finance textbooks. This material could help some who are trying to explain the benefits of technical analysis to academics. Beta and the equity risk premium may be ill defined, yet cornerstones of pricing theories. Technical analysis offers an adaptive approach to investment theory and could be more useful in real-world trading than concepts like that. As always, we enjoy learning what you think about Technically Speaking. Please email us at editor@mta.org. Michael Carr [post_title] => Technically Speaking, May 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2012 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:35:17 [post_modified_gmt] => 2020-08-03 15:35:17 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=46561 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 399511 [post_id] => 46561 [meta_key] => newsletter_content_3_contributor [meta_value] => a:1:{i:0;s:5:"46574";} ) [1] => stdClass Object ( [ID] => 47060 [post_author] => 2 [post_date] => 2011-11-15 12:00:02 [post_date_gmt] => 2011-11-15 17:00:02 [post_content] =>

LETTER FROM THE EDITOR

Our Ethics Corner feature has generated some feedback, and this month we are revisiting the first case study we presented. As expected, there is room for differences of opinion on ethics questions. In part, the growth of international membership in the MTA should guarantee some discussion on ethics. Laws differ among countries and cultural differences are greater than many assume. Perhaps the only undeniable truth in ethics is that people are not all alike. Different people hold different opinions, which is the underlying reason we have a market to trade. While cultural differences must be considered in any situation, the Standards defined in the MTA Code of Ethics are mandatory for all members and affiliates. While there may be a less strict requirement defined in local laws at times, the Code of Ethics requires that the stricter rules of the Code must be the guide. Obviously if the law is stricter than the Code of Ethics, the Code does not offer an excuse for breaking the law. We look forward to continuing discussions on ethics. It is important to our profession to hear as many opinions as possible. By understanding why some scenarios present “grey zones” we can make professional ethics stronger. Please send any comments to editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, November 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:23:13 [post_modified_gmt] => 2020-03-25 17:23:13 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47060 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 406775 [post_id] => 47060 [meta_key] => newsletter_content_9_contributor [meta_value] => a:2:{i:0;s:5:"46574";i:1;s:5:"47093";} ) )

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