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CFA Institute's Enterprising Investor
Keith P. Ambachtsheer, long an outspoken advocate for pension reform, shared his latest prescription for change with delegates gathered in Montréal for the 69th CFA Institute Annual Conference.
Referencing his latest book, The Future of Pension Management, Ambachtsheer, who is the founder and director emeritus of the International Centre for Pension Management (ICPM) at the University of Toronto’s Rotman School of Management, gave a sober assessment of the state of the world’s workplace retirement plans, praising the relative strength of plans in northern Europe while declaring those in southern Europe to be a “disaster.”
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CFA Chicago
As part of this year's "Putting Investors First" initiative, CFA Society Chicago invites you to join us for a panel discussion focusing on regulatory issues and ethical mandates. This event will cover topics including regulatory trends, fraud prevention, ethical practices, determining ethical criteria and the relationship between ethics and investment choices.
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CFA Chicago
Hard skills, soft skills — what are they? Be a part of an interactive discussion around this subject and more. We will dive into topics such as your "social self" vs your "professional self", "outer focus" vs "inner" focus, "how to" vs "want to" and why these key distinctions make all the difference between rising to the top or being stuck in professional purgatory.
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With an online Master’s in Finance from Saint Xavier University, you receive a quality education from an AACSB accredited program with a curriculum built around the CFA exams. Learn how you can experience the rewards of a graduate finance degree in today’s big data world.
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CFA Chicago
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.
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Chicago Tribune
It's easier for startups to bring amateur investors into the fold under new federal rules that take effect — but does it make sense for Illinois companies?
Companies can now raise up to $1 million across state lines without prior approval from the Securities and Exchange Commission.
That gives nonaccredited investors another way to get a piece of the high-risk, high-return startup investments traditionally limited to professionals.
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Samsung for Business
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As businesses adopt mobile technology at an unprecedented pace, the need for best-in-class mobile devices, support and services is growing rapidly. Samsung Mobile is committed to supporting businesses' mobile-first initiatives, offering a comprehensive portfolio of enterprise solutions.
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Forbes
For years, retirees have left tens of thousands of dollars on the table by how and when they claimed Social Security. Some claimed too early, while others didn’t know of some of the other benefits involving spouses and survivors.
Mary Beth Franklin, a certified financial planner and author of “Maximizing Your Clients’ Social Security Benefits,” has been one of the few observers of the Social Security system who’s kept on top of every nuance and recent change.
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Chicago Sun-Times
Most of us don’t like to pay taxes, but it’s our legal and civic obligation in a democratic society.
It’s also galling in states like Illinois, where real estate, sales and gasoline taxes are among the highest in the country, and there’s too much waste, inefficiency and dishonesty in government to feel our money is being well spent. But the beat goes on.
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Bloomberg via Chicago Tribune
Gold climbed as assets in bullion-backed funds rose to the highest since December 2013 and Goldman Sachs raised its price forecasts.
Holdings in gold-backed exchange-traded funds rose 0.2 percent to 1,806.7 metric tons on Tuesday, the highest in more than two years and the 11th straight gain. While remaining bearish on the metal's prospects, Goldman increased its forecasts for bullion prices, scaling back its expectations of Federal Reserve interest rate increases over the next year. Higher rates reduce the appeal of gold, which doesn't pay interest or offer returns, unlike assets such as bonds or equities.
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Reuters
Bridgewater Associates, the world's largest hedge fund with around $150 billion in assets under management, has set up an investment management unit in Shanghai, according to a Chinese government website filing, signaling that the firm is looking to expand its bets on China.
The move comes as some hedge fund managers around the world including Jim Chanos and Kyle Bass have piled into short trades against Chinese assets, amid fears the country's overleveraged economy and ballooning bad bank loans are set to derail the world's second-largest economy.
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USA Today
Gannett Co., which owns USA Today and more than 100 local news properties nationwide, said Monday it raised its offer to buy Tribune Publishing Co. to $15 per share, dialing up the pressure after its earlier bid was rejected by Tribune’s board of directors despite some shareholders’ call for a negotiation.
The revised offer values Tribune, which owns the Los Angeles Times, Chicago Tribune and nine other dailies, at about $479 million. Gannett also offered to assume about $385 million of Tribune’s debt, valuing the total deal at about $864 million.
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Bloomberg via Chicago Tribune
Warren Buffett is said to be backing a group bidding for Yahoo's core assets after famously staying on the sidelines through two Internet booms. Have his views changed?
Not necessarily.
Buffett, 85, often says he doesn't buy web companies because he broadly avoids industries he doesn't understand. But depending on how the deal is structured, he might not be betting on a stock's performance, so much as the company's continued existence.
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Crain's Chicago Business
The Treasury Department's white paper on marketplace lenders like Chicago's own Avant, as well as LendingClub and On Deck Capital, was called a "welcome to the real world' moment" by analyst Ian Katz at Capital Alpha.
That's the logical takeaway from other observers as well — the notion that the industry was overdue for a critical look from regulators such as the Securities and Exchange Commission and the Consumer Financial Protection Bureau.
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Pensions & Investments
The impending fiduciary rule is looming over the money management industry, which experienced a mixed performance in the first quarter. Although the Department of Labor rule — which expands the definition of fiduciary investment advice but clarifies that plan sponsors can continue to provide education without triggering fiduciary duties — won't go into effect until next year, it was “one of the most, if not the most, popular topics on earnings calls,” said Christopher Shutler, a Chicago-based equity analyst with William Blair & Co., in an interview.
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Financial Times
On the face of it Rahm Emanuel, mayor of Chicago; the managers of India’s Tata Steel; and the U.K. retailing entrepreneur Sir Philip Green have precious little in common. Yet all, in one way or another, are hostage to pensions blight.
In Chicago, the former White House chief of staff is struggling with a $20 billion pension deficit. If half-decent pensions are to be paid, shared sacrifice is required between public employees, pensioners and taxpayers.
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