For 75 years, the Financial Analysts Journal, published by CFA Institute, has acted as the intellectual heart of the asset management industry. But as it celebrates this anniversary in 2020, the industry is at a turning point.

Earlier this year, the devastating economic impact of Covid-19 was matched by an almost-equally severe destruction of value in the stock market. But as the pandemic has continued to wreak havoc and claim lives, the stock market has recovered with almost startling rapidity.