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Crain's Chicago Business
Chicago entrepreneur Jimmy Odom, who co-founded local-delivery startup WeDeliver in 2012, has announced his next startup: BitCap, short for Bit Capital Group, which aims to expand access to a cryptocurrency practice called mining. Former Chicago Bear Israel Idonije is a partner and investor. Cryptocurrency miners build powerful computers that verify the validity of transactions made in currencies such as bitcoin and ethereum. Because the process helps strengthen the currency platforms, every successful validation earns its miner a service fee paid in cryptocurrency.
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CFA Society Chicago
Tuesday, December 19
4:00 pm - 5:30 pm
CFA Society Chicago, 33 N. LaSalle Street, Suite 910
Discuss: Undoing Project by Michael Lewis
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CFA Institute Enterprising Investor
How should we view markets? Are they efficient, irrational, or slightly biased? A recent, more integrative theory is the adaptive markets hypothesis (AMH), proposed by Andrew W. Lo, the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering.
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CFA Society Chicago
Thursday, January 11
3:30 pm - 5:00 pm
33 N. LaSalle Street, Lower Level (Vault)
History of MPL and the investment characteristics of the asset class
Online origination of consumer and small business loans has seen remarkable growth over the past 5 years. What was once a truly peer-to-peer market has transformed into an institutional asset class. Marketplace (MPL) lending originations have grown from under $1B in 2011, to ~$27B in 2016. While this represents tremendous compounded growth, it is still less than 3% of total household originations. Please join RiverNorth's Philip Bartow (lead-PM, Marketplace lending strategies) as he presents a brief history of MPL, the investment characteristics of the asset class, and his thoughts on risks & future opportunities.
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CFA Society Chicago
Wednesday, January 17
3:30 pm - 6:00 pm
The Chicago Club, 81 E. Van Buren Street
Blockchains are simultaneously feared as a disruptor and lauded as a technological panacea, often with little understanding of how they work and their possible uses. Further complicating matters is the failure to separate blockchains from the most visible implementation of the technology: bitcoin. Cryptocurrencies are only one possible application of this distributed ledger technology (DLT) that could have far reaching consequences in vast areas of banking and financial services, as well as elsewhere in society. In this event CFA Society Chicago will declutter the topic with a keynote presentation on what blockchains actually are followed by an expert industry panel to explain how blockchains are used and will be used in clearing and settlement, payments, custody, and regulation.
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Chicago Inno
Chicago tech had quite a year when it came to startup acquisitions. Exit sales serve as a finish line for many companies, and a big pay day for founders and seed investors. RXBAR had the most talked-about exit sale of the year when it was acquired by breakfast and snack food conglomerate Kellogg for $600 million in October, and served as evidence that food startups can not only survive in Chicago, but thrive. Other notable exits included footwear design startup Bucketfeet and Brad Keywell and Eric Lefkofsky’s Drivin. Here are 10 Chicago startups that were acquired in 2017.
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Financial News
The chairman and chief executive of Cboe Global Markets, which expanded this year by acquiring one of the world's biggest equities exchanges, has predicted more landmark deals ahead.
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The Huffington Post
A post co-authored by Chicago City Treasurer Kurt A. Summers, Jr. and Brad McConnell, CEO of Accion serving Illinois & Northwest Indiana, begins, “It’s difficult for most small businesses to obtain a loan. Just ask Margo Strotter, owner of Ain’t She Sweet Cafe, which now has two locations – one in Bronzeville and one in Beverly.”
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Investor's Business Daily
Chicago is in the throes of a New York-circa-1970s-style fiscal crisis. Abetted by Illinois' government, the Windy City is adopting one of the borrowing tools that helped New York get its finances in order: a complex municipal bond, structured to protect investors in a possible bankruptcy. But unlike New York, Chicago and Illinois are using this invention to delay reform.
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Bloomberg
Federal Reserve Bank of Chicago President Charles Evans said he dissented from this week’s decision to raise interest rates because he’s concerned about low inflation expectations, as price pressures continue to undershoot the U.S. central bank’s 2 percent target.
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Chicago Tribune
A rising tide does lift all boats -- but nowadays, in the U.S., not equally. Under both parties, recoveries have become increasingly lopsided. The current one has helped millions of people find work; it's also benefited asset-owners far more than people who trade their labor for a paycheck. Income distribution, already the most unequal in the developed world, is getting worse. And that's starting to influence everything from America's spending habits to its elections.
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