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WBBM-TV
The City of Chicago is considering a plan to address unfunded pension liabilities by borrowing $10 billion in bonds, according to the Illinois Policy Institute.
Crain’s Chicago Business reports that during an investor’s conference on Aug. 2, the city’s Chief Financial Officer Carole Brown and a prominent backer of Mayor Rahm Emanuel – Michael Sacks – suggested the city issue billions in obligation bonds.
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CFA Society Chicago
Monday, August 27, 2018
5:30 pm - 7:00 pm
190 S. LaSalle Street, Chicago, IL 60603
Program Description:
Special situations are corporate actions which could reveal an undervalued security and hence an investment opportunity. Some examples of Special Situations are spinoffs, liquidations, tender offers, restructurings, bankruptcy exits etc. In the Special Situations Research Forum we will discuss an investment situation decided 3 weeks in advance. Every participant in the Forum is expected to research the topic before attending the meeting.
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CFA Society Chicago
Thursday, September 06, 2018
11:30 am - 1:00 pm
The Chicago Club, 81 E. Van Buren Street, Chicago, IL 60605
Program Description:
President Schapiro is among the nation’s leading authorities on the economics of higher education, with particular expertise in college financing and affordability. He has testified before U.S. Senate and House committees on economic and educational issues and has written more than 100 articles and written or edited nine books. In 2010 he was elected a fellow of the American Academy of Arts and Sciences, and in 2017 he was elected to the National Academy of Education.
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CFA Society Chicago
Monday, September 10, 2018
3:30 pm - 5:00 pm
33 N. LaSalle Street, Vault (Lower Level), Chicago, IL 60602
Program Description:
Real Estate's importance as an important asset within an institutional real estate portfolio has continued to gain momentum in spite of declining absolute yields. Specific key factors have influenced this increase in real estate investment. These factors include, technological advances, legislative mandates, and capital market developments.
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Crain's Chicago Business
When Chicago issued half a billion dollars in new bonds late last year, some investors balked, though the offering was designed to protect them by guaranteeing that they would be paid with tax revenues that Illinois sends to its biggest city. “It’s an untested model,” the research head at Gurtin, a municipal bond firm, said of the offering — Chicago’s first under a new state law.
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The Associated Press via Chicago Tribune
Warren Buffett is still finding new places to invest decades after he started, even though his basic approach of finding businesses selling for less than they are worth hasn't changed much.
Buffett resisted investing in tech companies for years because he didn't think he could pick which ones would be enduring winners, but now his Berkshire Hathaway conglomerate is a major Apple shareholder because he views Apple as a consumer products company with loyal customers.
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Bloomberg
GAM Holding AG should be applauded for moving swiftly to resolve the crisis engulfing its 7.3 billion Swiss francs ($7.3 billion) of unconstrained absolute return bond funds. But investors are about to learn how easy – or hard – it is to find buyers for such a large group of investments at acceptable prices. It could deliver a costly lesson in the risks of chasing returns in the current less-than-liquid environment.
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WBBM-TV
Amid heavy public scrutiny over their handling of private information and data mining scandals, Facebook is reportedly doubling down with their latest information request: your bank records.
According to a new report in the Wall Street Journal, the social media giant has asked several U.S. banks “to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users.”
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USA Today
Like many young adults, Jen Holmes of Chicago sometimes looked to her mom for financial help. However, the roles reversed a couple of years ago when the 34-year-old public relations executive’s income increased and her 70-year-old mom retired.
“It transitioned from me asking to borrow money to her asking to borrow money,” Holmes says.
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Bond Buyer
Chicago should tread cautiously as it explores selling up to $10 billion of pension obligation bonds to increase low funded ratios and ease funding spikes that threaten its efforts to lift its ratings and cut borrowing costs.
That was the advice from some analysts and market participants who attended the city’s annual investors conference during which the city disclosed it was mulling some form of pension financing.
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Kiplinger
Even with this year’s surging corporate profits, the Standard & Poor’s 500-stock index is trading at historically sky-high price-to-earnings ratios. Many “experts” seem to agree that the stock market is monstrously overpriced.
But maybe it’s not. Let’s look at P/E ratios and see where we really are. Price-to-earnings, for the uninitiated, is simply a stock’s share price divided by its earnings per share.
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Forbes
If you’re lucky, by the time you’re in your 50s or 60s, you’ve amassed a retirement fund to tide you through the next few decades. So you now might be seeking ways to simplify your life and finances. If money and investing aren't top priorities, there are a few ways to streamline the tasks to manage your investments.
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