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In response to the increased awareness of the CFA brand, CFA Chicago is pleased to offer members the opportunity to OPT-IN to be listed in a public directory of members on www.cfachicago.org. Unlike the member directory in the members-only section of the website (which is restricted), this directory will be populated with profiles of members who pro-actively choose to be listed and will be accessible by any visitor to the site. These profiles are designed to efficiently facilitate visitor searches for their best contact.
To complete a profile and be listed in the public directory, please click here.
Michele Gambera, CFA, chief economist at Ibbotson Associates was quote extensively in article entitled "Tapping Into Commodities Boom". Click here to see full article:
http://www.suntimes.com/business/roeder/821134,CST-FIN-curious02.article
Michele also was a panelist on a March 26 televised discussion about the economic outlook moderated by WTTW's Carol Marin.
CFA Chicago is pleased to announce the launch of "CFA Community" on the CFA Chicago website. This social networking platform (think "LinkedIn" meets "My Space" meets "Match.com"), exclusively for CFA Chicago members, lets you instantly build relationships and share ideas whenever you want to network. You create a personalized member profile (which can include a photo, documents, and media) and the system will help you find like-minded members. You can click on any profile to learn more about a member and send an email of introduction or set up a meeting.
We believe this members-only benefit will be a valuable networking tool and we are delighted to be the first CFA society to offer such technology.
To get started, click here: http://www.cfachicago.org/Members/cfacommunity.asp
Charles Evans addressed the outlook of the US economy and the impact of the credit market crisis on homeowners, consumers and businesses at a sold-out CFA Chicago luncheon. To see the full presentation on Bloomberg TV, click here.
Gerald Jensen, CFA, Professor in the Finance Department at Northern Illinois University, was interviewed by a Chicago Tribune reporter for his expertise on presidential election-year investment strategies. The Tribune story -- "It's Investor Doubts in a Landslide" -- appeared on the front page of the Chicago Tribune business section, and explored Jensen's co-authored research study entitled "Don't Worry About the Election, Just Watch the Fed," the findings of which previously received major national media attention. Jensen's co-authors of the research study are Robert Johnson, Managing Director at the CFA Institute, and Scott Byer, University of Wisconsin-Oshkosh Assistant Finance Professor. Mr. Jenson was also interviewed by Stocks, Futures, and Options Magazine on his co-authored research study "Gridlock's Gone, Now What?", which had previously received major national media attention (click to view). Written by NIU Finance professor Gerald Jensen, University of Wisconsin Oshkosh professor Scott Beyer, and CFA Institute Managing Director Robert Johnson, the study explores whether or not return on investments fair better during periods of political gridlock. The SFO story refers to Jensen's research study as a seminal piece. The SFO story is entitled "What's the Real X Factor? What could a Republican or Democratic U.S. President Mean for Future Markets?".
On November 7, CFA Chicago formally welcomed 208 new Charterholders into the fold. For a full list of the 2007 New Charterholders, please click here.
14,000+ members responded to the CFA Institute 2007 member compensation survey. Based on the sufficient sample size and overall response rate of 18 percent, CFA Institute is confident that the findings provide valid information to aid in your career assessment and planning.
You can access the results through an online searchable database, and supplemental summary and country reports provide details on the methodology and enhancements. For those looking for the compensation differential between CFA charterholders and noncharterholders, note that such a comparison is not provided. This is not an oversight. Because of the inadequacy of truly comparable external data, CFA Institute deemed such a comparison to be not valid. View the reports.
Steven Weinstein, CFA of Altair Advisers and David Murdock of the Northern Trust were recognized in Worth Magazine's October, 2007 article, "The Top 100 Wealth Advisors." Both are CFA Chicago members, Mr. Weinstein holding Regular status and Mr. Murdock Affiliate.
During the recent CFA Institute Financial Analysts Seminar, recipients of our top awards in the areas of financial writing and research were officially recognized.
Campbell R. Harvey and Claude B. Erb, CFA (Chicago society member), received the Financial Analyst Journal's highest honor — the Graham and Dodd Award for excellence in research and financial writing — for their article, "The Strategic and Tactical Value of Commodity Futures" (PDF).
In recognition of the worldwide celebration of "CFA Day," Mayor Daley has issued a proclamation encouraging Chicagoans to participate in our CFA Day activity. CFA Day in Chicago will celebrate the founding of the global investment profession and highlight the value of the CFA designation. To see the full text of the proclamation, click here.
Jeff Nevins, CFA and Todd Van Fleet, CFA of First Analysis Corporation were awarded "Best of the Street" for their work in the Business & Industrial Services sector. Mr. Nevins currently serves an Officer with CFA Society of Chicago.
CFA Institute Financial Analyst Journal (FAJ) has announced that CFA Chicago member Peng Chen, CFA, along with co-authors Roger C. Ibbotson, Moshne A. Milevsky and Kevin X. Zhu, have received the prestigious Graham and Dodd Scroll Award.
Entitled "Lifetime Financial Advice: Human Capital, Asset Allocation and Insurance", the work examines the changing decision frame of investors as they modify asset allocation over their lifetimes. The integration of life insurance planning with financial capital choices is highlighted in its proposed optimal life-cycle model of investing. The complete paper, which was published in the January/February FAJ, can be accessed at http://www.cfapubs.org.
Awarded by the FAJ's advisory council and editorial board, the Graham and Dodd Scroll Award is given in recognition of excellence in research and financial writing. The Graham and Dodd Awards were established in 1960 to recognize excellence in financial writing and to honor Benjamin Graham and David L. Dodd for their enduring contributions to the field of financial analysis.
The CFA Chicago Annual Report (2005-2006)is now online. Click here.
From P&I Daily, January 8, 2007 - "Morningstar today announced winners of its 2006 Fund Manager of the Year awards.
"David Herro was named International Stock Fund Manager of the Year. He manages the $7.7 billion Oakmark International Fund, which returned 30.6% for the 12 months ended Dec. 31, and the $1.3 billion International Small Cap Fund, which returned 34.9% for the same period. Mr. Herro, who is CIO for international equity at Harris Associates, Oakmark Funds' manager, has invested $1 million of his own money in the funds he manages, Morningstar noted. 'We believe the firm has an investor-centric culture, displayed by its decision to close Oakmark International Small Cap before it grew unwieldly. (Mr.) Herro has been doing a good job for a long time. He isn't a one-hit wonder,' Ms. Benz said in the release."
During the recent CFA Institute Financial Analysts Seminar, recipients of our top awards in the areas of financial writing and research were officially recognized.
Campbell R. Harvey and Claude B. Erb, CFA (Chicago society member), received the Financial Analyst Journal's highest honor — the Graham and Dodd Award for excellence in research and financial writing — for their article, "The Strategic and Tactical Value of Commodity Futures" (PDF).
The Education Group proudly presents a brand new initiative, "Practitioner Demand Driven Academic Research." The CFA Society of Chicago is working with the Financial Management Association International to develop, at no cost or obligation, cutting-edge investment research applicable to CFA members, their firms, and the general investment profession. We ask CFA members to participate in our meetings, held at 12:30 pm on the fourth Tuesday of every month, either by phone or in person. Our goal is to specifically define issues plaguing our industry, such as accurate risk measurement for non-normal distributions, and present these problems to academics, who will develop research at no cost to the CFA Society. Researchers will be rewarded through publication and recognition for addressing relevant practitioner problems. CFA members, or "Thought Partners," are requested to provide only specific research ideas/critiques and data. If you are interested in participating, please contact:
Rawley Thomas
rawley@lcrt.com
Lee Hayes
hayeslt@comcast.net
More information can be found on PDDARI's website:
http://www.lcrt.com/lcrt2006_008.htm.
CFA Chicago member and Past President Nick Ronalds authored an article on synthetically replicating the EAFE index in the current edition of the "Journal of Indexes." Click here to read the full text:
http://www.indexuniverse.com/JOI/index.php?id=752
On August 23, CFA Institute announced that Richard M. Ennis, CFA, co-founder and chairman of Ennis Knupp + Associates and member of the CFA Society of Chicago, will become editor of the Financial Analysts Journal effective December 1, 2006. To read the full press release, click here:
http://www.cfainstitute.org/aboutus/press/release/06releases/20060823_01.html
This year, CFA Chicago had the pleasure of awarding 1 Study Scholarship for the June 2007 exam. Only current members of CFA Chicago were eligible to apply for the scholarship, which covers 1 Stalla System course in the candidate’s preferred format, as well as reimbursement for the cost of the CFA exam curriculum materials sold by CFA Institute. Each of the candidates was required to procure a sponsor and write an essay outlining their educational and career objective and explain how the scholarship would be beneficial in meeting those goals. They were also required to describe specific circumstances, including financial need, which they felt would qualify them for this scholarship.
CFA Chicago Study Scholarship June 2007 winner is:
Basili Alukos, CPA (Level 2)
Audit Associate, McGladrey & Pullen, LLP
B.S.B.A., Accounting and Finance - Drake University
The CFA Society of Chicago also had the pleasure of awarding 6 scholarships for the June 2007 exam on behalf of the CFA Institute. All candidates were eligible to apply for the scholarship, which covers everything but $150 of the exam registration fee.
Each of the candidates was required to demonstrate experience and/or interest in the investment profession, ethical standards and commitment to CFA Chicago and CFA Institute. This process entailed procuring a sponsor and writing two essays describing their interest in obtaining the CFA designation and how they plan on contributing to the advancement of investment management and research in the Chicago area.
CFA Institute June 2007 Scholarship winners are:
Charles Hansen (Level 1)
Core Networks Engineer, Motorola, Inc.
B.S., Electrical Engineering - University of Illinois at Urbana-Champaign; M.B.A. (concentration in Finance) - DePaul University
Miao Hu (Level 1)
Student, M.B.A. (concentrations in Finance, Entrepreneurship and Strategic Management) - University of Chicago
B.A., Economics - Fudan University, Shanghai, China
Kate Marshall (Level 1)
Financial Writer, Calamos Investments
B.S., Human Factors Engineering - Tufts University; B.A., English Literature - University of Colorado; Masters of Science, Journalism - Medill School of Journalism
Jamie McAllister (Level 1)
Systems Analyst, Hewitt Associates
B.B.A., Finance (concentration in International Business) - University of Notre Dame
Melanie Angers (Level 2)
B.S., Mechanical Engineering; Masters of Science, Electrical Engineering - University of Wisconsin; M.B.A.(concentrations in Finance and Business Economics) - University of Chicago
Kimberly Appapillai (Level 2)
Analyst, Citigroup’s Corporate Investment Bank
B.A., Economics (minor in Spanish) - UCLA
CFA Chicago has a new home:
134 N. LaSalle St. – Suite 1740
Chicago, IL 60602
312-251-1301
Fax: 312-251-1303
Click here to read the press release about one of our members:
http://biz.yahoo.com/prnews/060717/cgm061.html?.v=44
The study groups for the June, 2006, exam are now full. This year, CFA Chicago accommodated more than 150 candidates in study groups around the Chicagoland area - a new record for the Society! CFA Chicago provides this complimentary service to all candidates and CFA Chicago volunteers serve as the contact for these groups.
We wish all the June candidates the best of luck!
Check back here this summer for details about December exam study groups.
This year, CFA Society of Chicago offered 2 types of scholarships. The CFA Society of Chicago Study Scholarship was open to candidates who are members of CFA Chicago and the award covers the cost of the full CFA Institute curriculum (a $700-800 value.) The winners of the CFA Society of Chicago Study Scholarships are:
Christopher J. Spiering
Analyst
Citigroup Global MarketsYou-yan Dianna Zhu
Associate Analyst
Credit Suisse First BostonMatthew Geiger
CB Richard Ellis
CFA Society of Chicago also had the pleasure of awarding scholarships on behalf of CFA Institute. CFA Institute provided the society with 7 scholarships for the June exam. CFA Chicago purchased an additional 2 scholarships from CFAI Institute so all of the deserving applicants in the Chicago area could receive a scholarship. This award was open to all candidates and covers all but $150 of the exam registration fee (which can exceed $700 for a first-time test taker).
Matthew McDonnell
Student
University of Illinois, College of BusinessTravis Miller
Student
Northwestern UniversityRobert M. Wilson, Jr.
Student
University of Chicago, GSBKimberly June Appapillai
Analyst
Citigroup GlobalSahar Maleki
Student
DePaul UniversityShaquitis Booker
Investment Assistant
Harris BankMichael P. Heneghan
Student
Indiana University Kelley School of BusinessChristopher J. Spiering (also Chicago recipient)
Analyst
Citigroup Global MarketsYou-yan Dianna Zhu (also Chicago recipient)
Associate Analyst
Credit Suisse First Boston
CFA Society of Chicago congratulates all the winners and we hope you make us proud in June! (Note: Scholarship applications for the December exam will be posted on our website later this summer.)
Gautam Dhingra, CFA and CFA Chicago Vice President-Academic Programs Division, was quoted in the Chicago Tribune on June 12, 2005, in an article about the intangible assets of companies. Click here to read the full article.
CFA Chicago 2004-2005 President, Nicholas Ronalds, CFA, authored this article featured in the Futures Industry Magazine (May-June, 2005 issue). Click here to read the article.
CFA Chicago member Carmen Heredia-Lopez, CFA quoted in this Chicago Sun Times article: http://www.suntimes.com/output/business/cst-fin-toigo09.html
Please click here to see the April 13 article "How Lifecycle Funds Ease Angst," written by CFA Chicago member/volunteer Michael Falk, CFA. If you would like to serve as a CFA Chicago contact for media inquiries, please contact communication@cfachicago.org.
300 investment professionals from around the Midwest attended the recent "Latest in Equity and Fixed Income Research Conference." Seven local societies joined CFA Chicago as co-sponsors of this event, which attracted top speakers and national media.
In December, 2004, CFA Chicago ran an ad in the Wall Street Journal to thank the sponsors of the 2004 Annual Dinner and to congratulate the new Charterholders and those who passed Level III of the CFA Exam. Click here to see the text of this ad.
Click here to see and hear the CFA Institute ads currently playing locally and around the globe.
By Kathleen A. Graham
It's the people behind the facts that make history interesting. The facts are that the very first investment analysts' society in the world started in Chicago when The Investment Analysts Club of Chicago (IACC) was founded in 1925.
Click here to read the entire article.
Wale Adeosun, CFA, has been named treasurer and chief information officer at Rensselaer Polytechnic Institute. The treasurer and chief investment officer, a newly created position at Rensselaer, will facilitate management of the Institute's assets and liabilities including managing endowment and pension plan investments and other financial capital assets, according to Virginia C. Gregg, vice president for finance and chief financial officer at Rensselaer. The treasurer and chief investment officer will work closely with the president, investment committee of the board of trustees, and the vice president for finance and chief financial officer.
Mr. Adeosun contributed greatly to the CFA Society of Chicago as an active member of the Board of Directors. Mr. Adeosun formerly served as the MacArthur Foundation's managing director for public equities and marketable alternatives.
Click here to read more about Mr. Adeosun's new position.
Members of AIMR have voted overwhelmingly in favor of a resolution that changes the organization's name to "CFA Institute". Click here to read more about this name change:
http://www.cfainstitute.org/aboutus/press/release/04releases/20040506_03.html
Effective January 1, 2005, Jeffrey Diermeier will become the CEO of the CFA Institute. Mr. Diermeier has been an active member of the CFA Society of Chicago (CFA Chicago) and served on the CFA Chicago Board of Directors from 1990-1992. Click here to read more about Mr. Diermeier's impressive career and contributions to AIMR:
http://www.cfainstitute.org/aboutus/press/release/04releases/20040506_02.html
Ben Bernanke, a member of the Federal Reserve Board of Governors, presented at an CFA Chicago luncheon program on April 15. More than 220 members, non-members and reporters attended the event. Read the summary of Mr. Bernanke's comments as reported by Reuters:
http://biz.yahoo.com/rf/040415/economy_fed_bernanke_3.html