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Bloomberg
Chicago next year will see its smallest budget deficit since 2007, a boost for the nation’s third-largest city as it prepares to confront escalating pension bills.
The city is projecting a 2019 shortfall of $97.9 million, according to an annual financial analysis released.
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CFA Society Chicago
Tuesday, August 07, 2018
4:00 pm - 6:00 pm
33 N. LaSalle Street, Vault (Lower Level), Chicago, Illinois 60602
Program Description:
As the asset management continues to consolidate, charterholders will inevitably transition towards new roles. Hear insights from a senior member of a leading outplacement firm, as well as four charterholders who have recently transitioned to new jobs. All panelists will be available for an extended Q&A with the audience.
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CFA Society Chicago
Wednesday, August 08, 2018
11:30 am - 1:00 pm
The Standard Club, 320 S. Plymouth Court, Chicago, IL 60604
Program Description:
TBD
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CFA Society Chicago
Tuesday, August 14, 2018
12:00 pm - 1:30 pm
CFA Society Chicago, 33 N. LaSalle Street, Suite 910, Chicago, IL 60602
The Investment Exchange Forum is a stock-picking meeting held by CFA Society Chicago members. Each meeting features actionable ideas by presenting volunteers and a lively discussion of the topic at hand. The IEF is both an opportunity to learn how others present investment ideas concisely and a chance to practice stock pitches. In order to keep the quality of the stock picks as high as possible, we encourage attendance by members who are actively involved in investment management.
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American Inno
Holberg Financial, a Chicago startup that aims to provide financial advising as a work benefit, has raised $1 million in venture capital funding to help it expand.
The seed round, which closed this week, was led by West Loop Ventures, but also included Howard Tullman’s G2T3V Fund and an investment from Maggie Johnson, the vice president of education and university programs at Google, according to Holberg founder and CEO Joe Holberg.
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Reuters
Chicago is looking at the feasibility of bond financing as a way to stabilize funding for its four retirement systems, the city’s chief financial officer said on Thursday.
The city’s unfunded pension liability is $28 billion, down from $35 billion last year. That liability and chronic budget deficits have resulted in low credit ratings and high borrowing costs.
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Chicago Tribune
Mayor Rahm Emanuel’s financial team is considering borrowing billions of dollars to pour into Chicago’s ailing pension funds — a move they contend could save future taxpayers hundreds of millions of dollars but experts say comes with risk.
The idea is to issue bonds at relatively low interest rates and use the money to reduce the city’s $28 billion in pension debt.
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CNBC
After seeing headlines this week about a new tax proposal out of the Treasury Department, some investors might be wondering: Will I get to pay less?
Probably not.
Last month, Steven Mnuchin, the Treasury secretary, said he was considering whether his department had the power to permit Americans to factor in inflation in calculations of their capital gains taxes.
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CFA Institute Enterprising Investor
Do tax-loss harvesting strategies boost after-tax returns?
Many hypothetical, backtested performance claims imply that they do — and by a lot. But advisers should think twice before using these claims to set client expectations. The value added by such strategies depends on future market environments and an investor’s circumstances.
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The Wall Street Journal
For the past century, a public pension was an ironclad promise. Whatever else happened, retired policemen and firefighters and teachers would be paid.
That is no longer the case.
Many cities and states can no longer afford the unsustainable retirement promises made to millions of public workers over many years.
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Bond Buyer
Chicago will work to sell more than 200 investors Thursday on the evidence it says shows that its finances are on the mend, that its school district is on firmer fiscal and academic footing, and that it’s implementing strategies to combat violent crime.
The annual conference follows the release of fresh financial data that provides both a look back at 2017 in the comprehensive annual financial report published last month and ahead at 2019 and beyond in the 130-page annual financial analysis published Tuesday.
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The Savings Game via Baltimore Sun
Many readers are concerned about volatility in the stock market, as well as about receiving reliably consistent interest or dividends with their investments.
Although the stock market has performed well for more than five years, there is no guarantee that it will continue to show comparable positive returns. Many analysts anticipate that returns in the near term will be much lower, perhaps even negative.
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