Making accurate predictions based on historical precedent is flawed, but thinking in scenarios reduces uncertainty.
Peter Joos is an Associate Professor of Accounting and Control at INSEAD. Prior to (re-)joining INSEAD in 2014, Peter served on the faculty of Baruch College, MIT Sloan School of Management, Chicago Booth School of Business and INSEAD.
In 2006 Peter joined Morgan Stanley in Hong Kong to head the valuation and accounting team in the Asia-Pacific Equity Research Department. In 2011, he relocated to London to become Global Head of Valuation & Accounting in the Equity Research Department. During his tenure at Morgan Stanley, Peter was part of the Global Equity Research management team and served on regional Stock Selection Committees. Further, as principal SME, he designed a fundamental forecasting/ valuation framework and managed its implementation into the proprietary Morgan Stanley equity research platform. In his client-facing capacity, he designed and implemented an earnings quality scoring methodology for global firms for a target clientele of PMs, CIOs, Heads of Research. He also led a team that carried out bespoke fundamental and accounting analysis to guide client investment strategies and provided advice on valuation matters and valuation implications of accounting standard implementation (e.g., IFRS Standards).
Peter is an elected member (since 2012) and co-chair (since 2015) of the Capital Markets Advisory Committee (CMAC) that advises the International Accounting Standards Board (IASB) on the practical implications for users of financial statements of its intended standard proposals.
Peter holds a PhD in Business and an MSc in Statistics from Stanford University. Peter’s research focuses on the capital market effects of accounting information. He has studied how capital markets use financial statement information prepared under different accounting regimes, how investors interpret accounting estimates related to deferred taxes and R&D and how investors value firms that report losses. His recent research explores the properties of analyst forecasts and in particular how analysts assess and model fundamental firm risk. His research has been published in top-tier accounting and finance academic journals including The Accounting Review, Journal of Accounting Research, Journal of Financial Economics and Contemporary Accounting Research.
Peter teaches financial accounting & valuation. He has been nominated for teaching awards at MIT’s Sloan School of Management and INSEAD and he has been the recipient of the Outstanding Teacher award for Core Courses at INSEAD.