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Chicago Tribune
Tumult in China triggered the worst opening week for U.S. stocks in history, and this week investors could get plenty more to worry about.
Profits are expected to drop at U.S. companies.
Again.
Earnings for companies in the Standard and Poor's 500 index are forecast to drop for the second straight quarter, a rare occurrence outside a recession. Despite a rebounding jobs market, the U.S. did not grow fast enough to boost profits, and once surging developing economies that helped lift foreign sales slowed dramatically.
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CFA Chicago
Jason Trennert is the Managing Partner of Strategas Research Partners LLC and the Chairman and Chief Executive Officer of the firm's broker-dealer subsidiary, Strategas Securities, LLC. Mr. Trennert is known as one of Wall Street's top thought leaders on the subject of markets and economic policy. His research pieces are read by leading institutional investors and corporate executives across the globe.
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CFA Chicago
Kyle Bass is the principal of Hayman Capital Management L.P. (Hayman). Hayman, formed in December 2005, serves as the investment manager to private funds focused on global event-driven opportunities, including funds focused specifically on Japan and the pharmaceutical industry. Previously, Bass co-managed private funds with strategies focused on sub-prime credit. Bass is a member of the Board of Directors of The University of Texas Investment Management Co., which has aggregate managed assets in excess of $35 billion.
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Chicago's only business school within a technological university, the Illinois Institute of Technology Stuart School of Business, offers graduate degrees and certificate programs with flexible part-time and evening scheduling options. Learn more about how Stuart’s strategically competitive programs can give you the skills needed for success in the next economy.
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CFA Institute's Enterprising Investor
There are many brilliant books on stock picking, from simple beginners’ guides to classic textbooks like Ben Graham’s Security Analysis and The Intelligent Investor. I could find only one credible book on mutual funds: John Bogle’s Common Sense on Mutual Funds.
Bogle’s advice? Investors should put their money in index funds. A number of finance luminaries — Warren Buffett, Charles D. Ellis, and David Swensen, among them — also recommend sticking to index funds. If they are all correct, then there would seem to be little need for funds research.
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CFA Chicago
Individuals are more likely to hire or refer people they know, like and trust. Just as companies invest in marketing to build the brands of their products, today individuals are finding value in marketing themselves. The product is YOU. Volvo is known for safety and engineering design. Nike communicates best-in-class sports performance. What are you known for? It is more important than ever that your "personal brand" communicate your expertise, qualifications and how you create value for your current or future company.
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Crain's Chicago Business
Chicago private-equity firm Thoma Bravo is trying to raise a $7 billion fund, potentially the biggest in the city's history. And for the first time, the firm will focus exclusively on acquiring software and technology firms, underscoring the growing role of its San Francisco office.
Firm founder Carl Thoma, 67, and Managing Partner Lee Mitchell, 72, continue to co-lead the business from Chicago.
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Chicago Tribune
Mayor Rahm Emanuel will ask the City Council Finance Committee to endorse plans to borrow up to $2.65 billion over the next three years to keep the city financially afloat, pay for long-term construction projects and further cull risky variable rate borrowing deals from the city’s loan portfolio.
The most controversial element is $335 million in scoop-and-toss borrowing over the next three years.
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Forbes
These three little letters — POB — can be a pox on your portfolio if you own them or were pressured into buying them. Pension obligation bonds do not belong in your portfolio. The reasons are simple. These taxable municipal bonds are issued by state or local governments for payment of obligation to their employee pension fund. Issuing such bonds allow the state or local government that cannot make its payments to the pension fund to borrow the money, then invest it in the stock, bond, private equity or real estate markets.
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Chicago Tribune
Most Americans don't have the money to handle common emergencies like a car breakdown or a trip to the emergency room for a broken bone.
In a national survey by Bankrate.com, 63 percent of people said they don't have the savings to cover a $500 car repair or a $1,000 medical or dental bill. Only 4 in 10 Americans would be able to rely on savings to cover anything beyond their usual bills.
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Chicago Sun-Times
The cash-strapped city of Chicago paid $74.7 million in fees last year to banks, law firms and other businesses that helped it borrow money — a record tab that will rise as more fees get tallied and one that comes as the city pays higher costs to dig itself out of its deep financial hole.
Altogether, City Hall borrowed $4.6 billion through the municipal bond market in 2015, with firms that worked on those deals netting $28.3 million in fees, a Chicago Sun-Times examination of city records found.
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NPR
A couple of years ago, University of Chicago professor Harold Pollack did an online video chat with personal finance writer Helaine Olen. The topic was how regular people get steered into bad investments by financial advisers.
Pollack said that the best personal finance advice "can fit on a 3-by-5 index card, and is available for free in the library — so if you're paying someone for advice, almost by definition, you're probably getting the wrong advice, because the correct advice is so straightforward."
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Reuters
Chicago will head to the municipal bond market next week with a $500 million bond issue amid uncertain pension funding requirements and political turmoil.
The general obligation refunding bonds are scheduled to be priced through Citigroup on Jan. 12, according to bond sale documents released late on Tuesday. The sale comes as state legislative fixes to address Chicago's $20 billion unfunded pension liability remain up in the air and Mayor Rahm Emanuel struggles with political fallout from controversial police shootings, including calls for his resignation.
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