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Power network draws rich families to Chicago banker Byron Trott
Bloomberg
Carol Bernick, executive chairman of Alberto-Culver Co., was facing the decision of a lifetime. She was going to sell the Melrose Park, Illinois–based shampoo maker her father had started in 1955 or she was going to plunge into foreign markets — Japan and Brazil — to keep up with competitors. To help make her choice, she called just one banker: Byron Trott, chief executive officer and chairman of BDT Capital Partners LLC in Chicago.
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What can you do for your community?
CFA Chicago
Family Focus helps Chicago-area families living in low-income communities give their children the best possible start in life. By offering customized classes, support groups and referral services in a welcoming and caring environment, Family Focus helps families help themselves while building a relationship based on equality and respect. On Thursday, Aug. 14, CFA Chicago is hosting a Summer Networking Reception at Hotel Palomar (Fresco Terrace) to support Family Focus.
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Incorporating energy in investing portfolios
CFA Chicago
While fracking has captured much of the popular press attention lately, there is a much more pervasive shift in the global energy power balance taking place that has near and long term implications at both macroeconomic and individual company levels. The U.S. is now the second largest producer of crude oil in the world, sandwiched between Saudi Arabia and Russia. US oil exports now exceed agricultural exports. Join us on September 23 at 2:30 p.m. as we discuss the macro-economic and geopolitical implications of the energy revolution, and identify sector-specific impacts.
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International perspective with Herro
CFA Chicago
David Herro is the Chief Investment Officer-International Equities at Harris Associates L.P. and serves as the Portfolio Manager of The Oakmark International Fund, The Oakmark International Small Cap Fund, and The Oakmark Global Select Fund. Herro has been managing international portfolios since 1986, previously managing international portfolios for The State of Wisconsin Investment Board and The Principal Financial Group. Join CFA Chicago on Sept. 24 at The Standard Club for the Distinguished Speaker Series featuring Herro.
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Does selling theoretical performance put investors first?
CFA Institute's Enterprising Investor
An investment adviser touts the performance of a proprietary trading strategy that he claims posted solid returns over the past decade and suffered minimal losses during the last market swoon. It sounds impressive, but after reading the marketing materials’ fine print, you discover that the results shown are theoretical and reflect the outcome of a backtest rather than a real client account. Confused, you ask an important question: “Am I looking at this correctly?”
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Angling to solve the wage-growth riddle, financial campers come up empty
Reuters via MoneyNews
Federal Reserve chief Janet Yellen is worried U.S. workers aren't seeing wage gains as the world's largest economy gathers steam. But if a debate among financiers during a recent fishing trip in Maine is any sign, she hasn't quite won over the business world to her view. The debate was more than just academic: The answer to the wage inflation puzzle could hold the key to when the Yellen Fed agrees the time is right to raise interest rates from near zero, where they've been stuck for nearly six years.
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CME raises margin requirement for swaps
The Wall Street Journal
CME Group Inc. is raising margin requirements for most customers using its interest-rate swaps-clearing services, the latest sign of financial institutions girding for possible rate increases over the next year. The adjustments mean that clients whose portfolios call for more margin under the new parameters will have to put up additional cash and securities to back their trades. Such shifts are routine but are closely watched in markets.
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Regulators reject 'living wills' of banks
Chicago Tribune
Eleven of the biggest U.S. banks have no viable plan for unwinding their businesses without rattling the economy, federal regulators said, ordering the firms to address their shortcomings by July 2015 or face tougher rules. The sweeping rejection shows that regulators are intent on avoiding a repeat of the 2008 financial crisis, when the government stepped in to prop up ailing institutions at taxpayers' expense. In the aftermath, the Dodd-Frank financial overhaul law forced banks to provide regulators with a blueprint for resolving their operations without harming the financial system. But regulators say the plans they have received are riddled with problems.
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Energy: Investing essentials
The Motley Fool
There isn't a more basic commodity than energy. Even things such as food, minerals and materials all require energy before we can consume them. It is the building block of life, civilization, and for some investors, their portfolios. With companies and individuals spending trillions of dollars every year on energy, it is a great place for investors who like to put their money in for the long term and check back once every couple of years without a care in the world. Let's take a quick look at the energy industry and why investors should definitely consider making energy a part of his or her portfolio.
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Walgreen CEO: Leaving US wasn't in best interest of shareholders
Chicago Tribune
Walgreen has exercised its option to buy the remaining 55 percent of European pharmacy retailer and wholesaler Alliance Boots in a $15.26 billion deal that will keep its corporate tax headquarters in the United States. The company that will emerge from the cash-and-stock transaction, Walgreens Boots Alliance, will be based in the Chicago area and include a mix of executives from both companies, Walgreen said. The deal is expected to close by the end of March.
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2 Northwestern startups win awards and 1871 memberships
Chicago Business Journal
Two Northwestern University student-run startups were among nine grand prize winners in the Chicago College Startup competition launched by Chicago tech incubator 1871, in conjunction with Chicago Mayor Rahm Emanuel and Illinois Gov. Pat Quinn. Both Emanuel and Quinn have identified young business owners, especially those run by students at colleges around the nation, as a key group to attract and retain in Chicago, which is looking to establish itself as an important hub for tech businesses.
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Global market valuations and expected returns
Guru Focus
In January 2014, the U.S. stock market benchmark S&P 500 lost 3.36 percent after the excellent 2013. The enthusiasm went back as the market gained 4.31 percent over February. In March, it went up only 0.69 percent. In April, it was about even for the whole month. In May, the market gained 2.10 percent and in June, the market benchmark S&P 500 went up 1.91 percent. However, in July, the market went down by 1.51 percent. What is the situation in the other parts of the world?
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Power network draws rich families to Chicago banker Byron Trott
Bloomberg
Carol Bernick, executive chairman of Alberto-Culver Co., was facing the decision of a lifetime. She was going to sell the Melrose Park, Illinois–based shampoo maker her father had started in 1955 or she was going to plunge into foreign markets — Japan and Brazil — to keep up with competitors.

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CBOE to cut costs amid weak trading volumes
Chicago Tribune
CBOE Holdings Inc. recently became the second exchange operator to say it will cut expenses in the face of declining trading volumes that are eating into profits. Chicago-based CBOE, which runs the largest U.S. stock-options market, reduced its outlook for core operating expenses in 2014 to a range of $186 million to $190 million, from a previous range of $191 million to $196 million.

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Chicago's day of reckoning over pensions delayed
Chicago Tribune
Mayor Rahm Emanuel and aldermen won't grapple this fall with the financial reckoning the city faces over its underfunded police and fire pension systems, budget officials recently acknowledged. Instead, the Emanuel administration plans to take advantage of a state law that gives it until December 2015 to decide to make changes to its property tax levy.

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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    CBOE to cut costs amid weak trading volumes (Chicago Tribune)
Chicago's day of reckoning over pensions delayed (Chicago Tribune)
Surviving the global pension crisis (CFA Institute's Enterprising Investor)
Wintrust makes move to historic LaSalle St. edifice (Crain's Chicago Business)
The impact of oil and energy (CFA Chicago)

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