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Real Business : Issue 3 2008
Your future awaits It’s October, which can only mean one thing: exams are just around the corner. Hopefully you’ve kept the five Ps in mind (proper preparation prevents poor performance) and are all set to sail through. And then perhaps it might be time to think about a break. Why not? You deserve it. Get this: there are many CPAs who are thinking about holidays all the time, and not because they are imagining themselves lying on pristine beaches, but because it’s their job. Whether it’s working in online booking services such as Webjet and Travelzoo, airlines such as Qantas, or luxury hotels, you’ll find finance professionals with their fingers on the financial pulse of a business – feeding the right information to management so that sound decisions can be made. These days finance professionals don’t just run the ruler over data. They are strategic partners with management, helping to drive a business forward. THE CPA PASSPORT TEAM firstname.lastname@example.org Think + Create The ant’s pants A Shanghai, one of the world’s most progressive, cutting-edge business hubs, is the location for the new CPA Australia advertising campaign Think + Create. The theme conveys that CPAs combine logical and lateral thinking, and are an asset to business the world over. “What we’re saying is that a CPA adds more than numbers to your business,” CPA Australia president Alex Malley says. “They have two sides, one is logical and analytical and the other is innovative and visionary. Businesses need both. It is this unique combination that drives business success. “If CPAs weren’t able to think about what the numbers tell them and create opportunities for growth, a lot of businesses wouldn’t be REAL BUSINESS ISSUE 3, 2008 enjoying the success they are now.” The campaign was devised and produced by award-winning advertising agency Clemenger Harvie Edge. Executive creative director Jason Ross says: “CPA Australia came to us and gave us the challenge to come up with one campaign idea that spoke to both employees and employers. The great opportunity we had was to come up with one simple, single-minded idea. One of the main objectives is to go out to consumers and tell them why this designation is different – what the unique thing is about it. And that is, there is a holistic approach when you are a CPA. It’s this idea that you can think [the analytical side of accounting] and create.” n investment strategy is a set of rules, behaviours or procedures designed to guide an investor’s selection of an investment portfolio. As for what makes an effective strategy, there are as many theories as there are advisers. But the classic is “buy and hold”, which as the name suggests is all about purchasing stocks and then holding on to them for the long term in order to nullify market volatility One of the quirkiest strategies must be that of Bill Miller, an investment ace from global asset management firm Legg Mason who, according to Esquiremagazine, beat the Standard & Poor’s stockmarket index an astonishing 15 years in a row. Implementing a system best described as “non-traditional”, Miller uses his knowledge of philosophy and even ant colonies to make investments. Fact is, although his methods sound unusual, Miller and firms such as Legg Mason perform an incredible amount of research and leave very little to chance. “We systematically study the methods and the portfolios of investors with great long- term records for insights,” Miller says. “And we scour the academic literature in finance, psychology, economics and decision theory to see if any new research results in those (and other) fields can be adapted in ways that may improve our results.” ¦ 5 ISTOCK investment strategy this way up
Issue 1 2009