Event Detail

Entitlements, Austerity, Taxes, and the Mortgage Crisis (Ended)

Practical Solutions to Some of the Greatest Challenges Facing the World Economy

Date, Time, and Location:
Tuesday, November 29, 2011 (add this event to your Outlook Calendar)
4:00 pm
The Standard Club, 320 S Plymouth Ct, Chicago, IL  60604   (Driving Directions)


  • Michael S. Falk, CFA, Partnering Consultant, Focus Consulting Group, Inc. & Founder, MSF Asset Consulting
  • Lee Hayes, CFA, managing partner of Genesee Investments
  • Michael N. Lindh, CFA, CPA, senior trader at Nuveen Investments
  • Rawley Thomas, president of LifeCycle Returns, Inc.

Date, Time, and Location:
Tues., Nov. 29, 2011
4 - 6 pm
The Standard Club, 320 S. Plymouth Ct., Chicago, IL 60604

Program Description:
You'll hear practical solutions to some of the greatest challenges facing the world economy - based on the research of PDDARI, the Practitioner Demand Driven Academic Research Initiative of the Financial Management Association (FMA) as supported by CFA Society of Chicago.

Topics will include: Inefficient Market Theory to Replace Efficient Market Theory, Lessons from the Economic Meltdown, Investment Strategies, Associated Corporate Financial Strategic Policies, and Faith or Ethically Based Public Policy Decisions, like the relationship of sovereign growth, taxation, deficits and welfare.

Members - $45
Non-Members - $55
Student-Members - $20
(payable by cash, check, credit card or function ticket)*

CFA Institute Qualified Activity: Eligible for 1 credit hour

Business Casual

For Reservations:
Register online below, or by phone: 312-251-1301

4:00-4:30 - Registration and networking
4:30-5:30 - Panel Discussion and Audience Q&A
5:30-6:00 - Refreshments and networking


Michael S. Falk, CFA, is a partnering consultant with the Focus Consulting Group as well as the founder of MSF Asset Consulting. Apart from his consulting efforts, Falk is part of the CFA Institute’s Approved Speakers Program, a contributing member of the PDDARI group within the Financial Management Association (FMA), the Vice Chair of the Plan Sponsor Council of America’s Investment Committee, and an adjunct professor at DePaul University in their Certified Financial Planner (CFP) Certificate Program. He graduated from the University of Illinois with a B.S. in Finance. He is a CFA Charterholder, a member of the CFA Institute, and also holds the Certified Retirement Counselor (CRC) designation.

Lee Hayes, CFA, is managing partner of Genesee Investments, a Wealth Management Company. Prior experience includes 30 years in the computer industry in management, product marketing, sales and technical support. Over these 30 years, he worked at Kforce, Siemens, Source EDP, MassComp and Digital Equipment. Hayes holds an M.B.A from University of Pittsburgh 1974 and a B.S. in Mechanical Engineering from the University of Wisconsin 1971. He serves on the following CFA Society of Chicago groups: education, career management, book club and FMA PDDARI as supported by the CFA Society of Chicago. Hayes contributed a chapter to Cash-Loving Contrarians on portfolio strategy (Wiley, forthcoming 2012). In October 2011, he served on a special panel to discuss the above topics at the FMA annual meeting in Denver. He is affectionately known as the resident visionary for PDDARI.

Michael N. Lindh, CFA, CPA, has been a senior trader at Nuveen since 2007 and at Richards & Tierney from 2002-7. Prior to this, Lindh was a principal and senior quantitative research analyst at Harris Investment Management. During his 20 years of investment research management experience with the Harris Bank, he was involved in the development of quantitative risk models, portfolio construction, portfolio management, equity and fixed income analytical systems, and asset allocation strategies. Prior to this position, Lindh was responsible for investment accounting systems at Chicago Title & Trust Company. He earned a bachelor's degree in economics and accounting from Augustana College, and an MA in economics from Northwestern University. Lindh received an MBA from the University of Chicago. He is a former President of the CFA Society of Chicago.

Rawley Thomas is president of LifeCycle Returns, Inc, in St. Charles, Illinois. LifeCycle Returns supports investment funds, consulting firms and investment banks with process consulting and licensed platforms to create world-class capabilities in their use of value management principles. He served as Assistant Treasurer of SuperValu Stores, joined Callard, Madden in 1981, co-founded HOLT Planning in 1985, and directed Value Management research for The Boston Consulting Group for eleven years. Credit Suisse First Boston acquired the successor to HOLT Planning, HOLT Value, in early 2002. Thomas is VP Practitioner Services for the Financial Management Association International (FMA) and is Chairman of the FMA Practitioner Research Committee. Currently, he serves on the Northern Illinois Accountancy Board and chairs the FMA PDDARI supported by the CFA Society of Chicago. Thomas is the co-editor and contributing author of Wiley's The Valuation Handbook: Valuation Techniques from Today's Top Practitioners, published in October 2009. His second book to be published in 2012 by Wiley is Cash-Loving Contrarians: How to Achieve Higher Shareholder Returns with Lower Risk using the Automated Intrinsic Valuation Framework.

*Special Notes Regarding Fees:
Student rate only available to students approved as a Student-Member of CFA Chicago for 2011-2012. Regular and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card is required to guarantee ALL reservations except for ONLINE reservations using FUNCTION TICKETS. No day-of-event pre-registrations accepted (on-site only, if applicable and space available). There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, Nov. 23.

A Passport Event This is a "Passport Program." Members of any local CFA society may attend at the CFA Chicago member rate. If you are only a member of CFA Institute, you do not qualify for the society member rate.

This program qualifies for credit under the guidelines for the CFA Institute Continuing Education Program. Please click here if you would like more information.

Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.