The gains from trade for consumers are measured by

All short sales:
I). deposit the proceeds in a margin account
II). require the seller to post margin over and above the short sale proceeds
III). are completed with no collateral contribution from the short seller

Henry Giuliani, CFA charterholder, publishes a monthly investment newsletter. In an article on the energy sector he writes 'The energy sector is headed for a downturn. You should believe this, I am a CFA charterholder, and that implies superior ability to predict the market'. Giuliani has most likely violated the
Standards for:

Susan Miller, CFA, works for an investment counseling firm. James Sims, a new client of the firm, is meeting with Miller for the first time. Sims had used another counseling firm for financial advice for years, but has switched his account to Miller's firm. After a few minutes of 'get-acquainted' small talk, Miller explains to Sims that she has discovered a highly undervalued stock that offers large potential gains. She recommends that he purchase the stock for his account. Miller has committed a violation of CFA
Institute's Standards of Professional Conduct. What should she have done differently?

An individual has part of his money tied up in 6 stocks. He decided that each must remain in his portfolio, be sold, or be given to his son. How many possible outcomes does this individual face?