CFA Society Chicago NewsBrief
Oct. 8, 2013

Is financial compliance a topic worth ignoring?
CFA Chicago
Fraud is one of the most devastating incidences to happen to the financial services sector. On Oct. 10, CFA is hosting a panel led by the industry's finest compliance experts — Come prepared with questions for a whistleblower, a former SEC examiner and other securities professionals as they discuss recent frauds within the industry.More

Managing your online presence: Make your profile endorsement-worthy
CFA Chicago
When it comes to managing social media practices within the financial services industry, career strategist Kathy Graham is the expert. Come with questions about developing your own interactive identity via LinkedIn, Facebook, and Twitter. Space is LIMITED — register for our Nov. 14 discussion with Graham before it's too late to fine-tune your social media presence.More

Perfect predictions: FiveThirtyEight is changing the game
CFA Chicago
Nate Silver has been called a "spreadsheet psychic" and "number-crunching prodigy" by New York Magazine — He uses his experience in baseball statistics to formulate incredible forecasting models for politics. CFA Society Chicago is proud to announce Nate Silver as the keynote speaker at the 27th Annual Dinner, the premier networking event of the year — register now to gain insight into Silver's incredible predictions and socialize with nearly 800 investment professionals.More

The retirement crisis: Is mandatory savings the way forward? Or a 'toxic' proposal?
CFA Institute's Enterprising Investor
Mandatory retirement savings accounts is a hot topic, as evidenced by buzz around Meir Statman’s recent article in the Financial Analysts Journal, as well as the number of recent articles and blog posts tackling the issue of pension security. While a number of people are calling for mandatory retirement savings for employees in the United States, there is vigorous debate as to whether this is the way forward.More

Analyst: Here are 3 reasons why stocks are still beautiful to us
Business Insider
The Dow is down -3.8 percent since it hit its all-time high on Sept. 18. The sell-off was exacerbated by the ongoing budget fiasco in Washington, which has forced the government to shutdown and the debt ceiling to inch closer. Policy analyst Greg Valliere says stocks will need to fall more to get Washington's attention. But ConvergEx chief market strategist Nicholas Colas thinks U.S. equities are still "beautiful."More

Big bank plum: Charter One in Chicago seeking a buyer
Crain's Chicago Business
One of Chicago's biggest retail banking franchises is going on the sales block. RBS Citizens Financial Group is moving to sell the Chicago operations of Charter One Bank in an auction that's expected to attract keen interest from both locally headquartered banks and out-of-town lenders looking to bulk up here, according to people familiar with the matter. More

New York or Chicago for startups? MentorMob compares both
Forbes
MentorMob is a rapidly growing startup in the B2C education technology space. The company was founded in Chicago in 2010, and was one of the first tenants of Catapult Chicago, a shared location facility for startups. In 2013, MentorMob relocated to New York City, to participate in the Techstars/Kaplan Ed Tech accelerator program. The company has had the unique experience of living in the two cities, both with growing startup ecosystems. More

Yield search can led to shark-tank investments
Financial Advisor
"The search for yield can lead to people adding little-understood investments to their portfolio, which can have disastrous results," said Chris Goolgasian, managing director at State Street Global Advisors. Goolgasian recently spoke at the Morningstar ETF Invest Conference in Chicago, speaking about how to take a multi-asset approach to generating income. More

Why investors need to read Nate Silver's book
Business Insider
What Nate Silver addresses more than anything in “The Signal and The Noise: Why So Many Predictions Fail — But Some Don’t” is how we know things — in particular how we use and misuse information to understand and make predictions about complex phenomena such as baseball performance, political outcomes, the weather, earthquakes, terrorist attacks, chess, Texas Hold ’em poker, climate change, the spread of infectious diseases, and financial markets. More

City Hall lobbyist Filan wearing one too many
Chicago Sun-Times
As the weather cools, we have many reminders that wearing two hats remains fashionable for all seasons at City Hall. There’s the chairman of the city’s election board — one of the people who determined that the current mayor was eligible to run for the office — who has reaped millions of dollars as a City Hall lobbyist and lawyer for city government. Then there’s the head of the City Council’s finance committee, with his long list of law clients who do business with the city.More

Case study: Virtual mentoring using LinkedIn
Associations Nows
Nowadays you can pay your bills, buy your groceries, get a degree, and even see a therapist online. So, it’s no wonder that mentoring can also now be done digitally. Electronic mentoring is a trend growing in the education industry, and several associations such as the Society of Petroleum Engineers and the American Society for Civil Engineers offer virtual mentoring programs to connect their members. More

Google chooses Chicago's 1871 for Tech Hub Network
Biz Journals
Google has announced that it is launching a Tech Hub Network in North America, starting with seven locations, one of which is the 1871 co-working center in Chicago. Preeti Upadhyaya of the Silicon Valley Business Journal reported that Google did not provide details of financial benefits to being part of the network.More

Is financial compliance a topic worth ignoring?
CFA Chicago
Fraud is one of the most devastating incidences to happen to the financial services sector. On Oct. 10, CFA is hosting a panel led by the industry's finest compliance experts — Come prepared with questions for a whistleblower, a former SEC examiner and other securities professionals as they discuss recent frauds within the industry.More

US Bank looks to break out of Chicago pack
Chicago Business
U.S. Bank, the nation's sixth-largest bank, is targeting Chicago as one of its best opportunities nationally for growth. The Minneapolis-based bank, with $353 billion in assets, has grown its local workforce by 13 percent in the past 18 months and is considering a substantial increase in spending on local marketing for next year. More

Quinn: No corporate tax breaks without pension overhaul
Chicago Tribune
Despite previously supporting millions of dollars in tax breaks to keep corporations in Illinois, Gov. Pat Quinn recently declared there will be no more special incentives for businesses until lawmakers send him a measure to overhaul the state's public employee retirement system.More

CBOE new product: Short-term volatility index
The Street
Chicago Board Options Exchange (CBOE) rolled out a new volatility index recently at the Second Annual European CBOE Risk Management Conference in Sintra, Portugal. The CBOE S&P 500 Short-Term Volatility Index (VXST) is a measure of the nine-day version of the CBOE Volatility Index (VIX). The VXST level is determined using the same industry standard methodology used to calculate VIX. More