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Bloomberg
Animal spirits are alive and kicking in a surprising corner of the American stock market.
Sure, you can view 2016 as the triumph of defensive industries, or a hunt for yield, or the year when low volatility ruled. But those hoping to use these trends as the basis for a bear case on the U.S. economy should be aware that a group of stocks that normally benefits from domestic growth — smaller ones — is also having a banner year.
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CFA Chicago
CFA Society Chicago is moving offices. Starting July 1st, visit us at our new home at: 33 N. LaSalle Street Suite 910 Chicago, IL 60602 CFA Society Chicago Board of Directors and staff invite you to our Open House on August 3rd from 4:00 pm - 6:00 pm at our new headquarters. Please join us for appetizers, drinks and a tour of our new home!
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CFA Chicago
Dr. David Kelly, CFA, is the Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Funds. With over 20 years of experience, David provides valuable insight and perspective on the economy and markets to thousands of financial advisors and their clients. Throughout his career, Kelly has developed a unique ability to explain complex economic and market issues in a language that financial advisors can use to communicate to their clients.
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To contact us: Sales@VestServe.com
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CFA Chicago
The Investment Exchange Forum is a stock-picking meeting of 10-15 CFA 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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CFA Institute's Enterprising Investor
Edward Altman says the benign credit cycle is in “extra innings,” but the metaphorical relief pitchers — central bankers — are running out of gas.
Altman reviewed the current states of four credit cycle indicators and his Z-score measure of financial worthiness, in a presentation at the CFA Institute 2016 Financial Analysts Seminar.
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Chicago Tribune
The city of Chicago's budget shortfall next year is expected to be the smallest in a decade, but the estimate doesn't account for billions of dollars owed to the city's largest pension fund — a debt expected to trigger another significant tax increase.
City financial officials conceded Friday that a new money stream of hundreds of millions of dollars each year will be needed for stepped-up contributions to the retirement fund for municipal workers.
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Reuters
Chicago's budget deficit could reach a 10-year low next year despite unresolved funding questions for its largest and most underfunded pension system, according to an annual financial analysis released by the city on Friday.
The report projected that fiscal 2017 expenditures will exceed revenues by $137.6 million, representing a 40 percent reduction from 2016 and the narrowest gap since 2007, when the city deficit stood at $64.5 million.
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With an online Master’s in Finance from Saint Xavier University, you receive a quality education from an AACSB accredited program with a curriculum built around the CFA exams. Learn how you can experience the rewards of a graduate finance degree in today’s big data world.
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Chicago Sun-Times
Chicago faces a $137.6 million budget shortfall in 2017 that does not factor in the steep cost of — and the tax increases required — to save the largest of four city employee pension funds.
Mayor Rahm Emanuel’s administration released a financial analysis Friday that projects the smallest gap in the city’s operating budget since 2007.
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Chicago Tribune
Fledgling financial tech startups face daunting hurdles when trying to make it into the big leagues: Tough regulations and steep costs can be enough to run a startup into the ground before it sees its first dollar.
For help, startups turn to FinTech Sandbox, a Boston-based nonprofit that provides data and resources. And now, Peeptrade has become the first Chicago company accepted into the program, which has worked with nearly 50 startups.
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Forbes
John Mauldin writes: In the NIRP-heavy world I foresee, a portfolio balanced between major equity and fixed-income will be lucky to break even. Poor returns will be a thorny problem for anyone who is contractually obligated to use portfolio returns to pay certain amounts on certain dates but hasn’t set aside funds to do it.
Defined-benefit pension plans are the primary example. Today these exist mainly for public-sector employees.
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Crain's Chicago Business
After a slow start, Chicago is lurching ahead in taxing the cloud.
Though thousands of companies could be affected, only about 200 took advantage of an amnesty program in which City Hall gave businesses the chance to pay the tax for last year and escape liability for previous years.
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