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Expect a blow-out year
Yahoo
It was the best year for the markets since 1997. The past year's 29.11 percent in the benchmark S&P 500 index certainly exceeded even some of the more optimistic expectations for the year.
What can we expect for 2014? David Rosenberg, chief economist at Gluskin Sheff, is one of the most widely-followed and respected economists today. He offers his three predictions on the economy in general and on the markets specifically to Talking Numbers.
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The ever-evolving private equity industry
CFA Chicago
T. Bondurant "Bon" French, CFA, is responsible for the management of Adams Street Partners and actively participates as an investment professional. French has been with Adams Street Partners and its predecessor organizations since 1980 and has been instrumental in the development of its private equity investment strategies, fund management and client service. Join CFA Chicago on Feb. 25 for the T. Bondurant "Bon" French Distinguished Speaker Series.
The brains behind Gluskin Sheff and Associates
CFA Chicago
Join CFA Chicago on Tuesday, April 29 from 12:00 - 1:00 p.m. for the Distinguished Speaker Series featuring David Rosenberg, Chief Economist and Strategist for Gluskin Sheff and Associates. Fees for members are $45 dollars, the student-members fee is $10, and non-members are welcome to join for $55. This series also qualifies for credit under the guidelines for the CFA Institute Professional Development Program.
Alternative thinking vs. alternative assets
CFA Institute's Enterprising Investor
If you’ve sat in on any presentations on alternative assets, or picked up any of the marketing materials, you will have heard all the reasons why financial advisers and portfolio managers should own alternatives.
The checklist of potential roles that alternatives play in a portfolio goes something like this: Low correlations, which lead to better diversification, great inflation hedge, capital protection in down markets, pure alpha (i.e., great return potential) and strategic allocations — or a dedicated "slice."
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FEATURED COMPANIES
Schweser is the most recognized, trusted name in CFA® review. Our efficient, effective study materials and expert instruction are designed for candidate success. MORE
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To find out how to feature your company in the CFA Society Chicago NewsBrief and other advertising opportunities, Contact James DeBois at 469-420-2618.
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Regulators ease new bank rule on leverage to aid economy
Chicago Tribune
Global banking regulators recently agreed to ease the way a new rule, meant to rein in risky balance sheets from 2018, is compiled to try to avoid crimping financing for the world's economy. The recent decisions were the latest sign of how regulators have become more willing to accommodate banks as the focus switches to helping economies recover. The relief to lenders may, however, be temporary as the regulators signaled there is still no agreement on the final level of the new leverage ratio, which measures how much capital a bank must hold against its loans and other assets.
Austan Goolsbee: Bravo for Bernanke and the QE era
The Wall Street Journal
Trouble has a way of finding Ben Bernanke. This time, it surrounded his trip to the American Economic Association meeting in Philadelphia to give a capstone speech summarizing his eight years as head of the Federal Reserve. A major snowstorm had hit the East Coast and a frigid polar vortex followed behind it. His speech's audience at the nation's largest gathering of economists looked even more comical than normal with their snow boots and hat-head, but they gave his remarks a standing ovation. It was quite different from the icy reception he has grown accustomed to from his critics (including several on this page) over the past 3½ years during what could be called the QE Era.
Apollo raises largest PE fund since financial crisis
Reuters via Chicago Tribune
Apollo Global Management LLC said it had completed fundraising for its latest flagship global private equity fund, amassing $17.5 billion from investors, the most any such fund has raised since the financial crisis. In their hunt for yield amid persistently low interest rates, investors who fell out of love with private equity and its debt-fueled excesses in the aftermath of the 2008 crisis are now increasing allocations to the asset class. Global private equity fundraising throughout 2013 totaled $431 billion, up 13 percent on 2012, market research firm Preqin said.
Financial firms seek startup solutions to trade better, faster
Chicago Tribune
Technology has already transformed financial trading, and emerging companies are still at work making options trading faster and more accessible than ever. With rising regulatory burdens, new technologies might make it safer to trade, too.
Options, largely traded on the Chicago Board Options Exchange, help traders secure the "option" to buy assets or commodities at future prices, which balances market risk by helping control prices overall.
You can already trade on apps. Is Google Glass next?
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Expect a blow-out year
Yahoo
It was the best year for the markets since 1997. The past year's 29.11 percent in the benchmark S&P 500 index certainly exceeded even some of the more optimistic expectations for the year.
What can we expect for 2014? David Rosenberg, chief economist at Gluskin Sheff, is one of the most widely-followed and respected economists today. He offers his three predictions on the economy in general and on the markets specifically to Talking Numbers.
|
|
Looking for positivity on the markets? Don't hold your breath
Morningstar
A high-profile weatherman in Chicago is well regarded in meteorology-geek circles, but he's also well known for being overly pessimistic in his forecasts. When this particular meteorologist is predicting a foot and a half of snow followed by negative temperatures, as he was recently, we know that we'll have a decent amount of snow and cold temps, but that the bad weather won't rise to the level of his gloomy forecasts.
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Millennials may be your practice's biggest advocate
Reuters
They don't care where you went to school or what certificates hang on your wall. But once you win them over, wealthy young clients may be your biggest advocates and your best customers. Financial industry professionals say Generation Y clients — the "millennials" born after 1982 — can be tough nuts to crack.
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Stanley Fischer saved Israel from the Great Recession — now Janet Yellen wants him to help save the US
The Washington Post
Every August, central bankers from across the globe, who collectively pull the levers of the world economy, descend on Grand Teton National Park in Wyoming. They enjoy a symposium of big economic ideas and strenuous afternoon hikes. At one of their dinners a few years ago, Federal Reserve Chairman Ben S. Bernanke looked around at some fellow titans of finance. “Do you know what everyone at this table has in common?” he mused. “They all had Stan Fischer as their thesis adviser.”
Stock-index trades rising at fastest pace in 6 years: Options
Bloomberg
Options trading in benchmark gauges such as the Standard & Poor’s 500 Index is growing at the fastest pace since 2007, spurred by investors seeking protection from widespread declines after the broadest rally on record. A record 385 million contracts on stock-indexes changed hands in 2013, 20 percent more than the previous year for the biggest increase in six years, according to data compiled by the Options Clearing Corp. Indexes accounted for 9.4 percent of total options trading, the largest proportion since 2007, data from the Chicago-based organization show.
Quinn budget office projects $4 billion hole by 2016
Crain's Chicago Business
Call it the opening shot in the looming war over whether to extend the "temporary" state income tax hike. In a recent little-noticed report, Gov. Pat Quinn's Office of Management and Budget released three-year financial projections about what will happen if the tax increase begins to sunset on Jan. 1, as now is scheduled. Crain’s Greg Hinz received his copy thanks to Voices for Illinois Children, an advocacy group that circulated the Jan. 1 report.
Missed last week's issue? See which articles your colleagues read most.
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