| Next Event: |
November 16th, 2009
Radisson Plaza Minneapolis
4-6pm |
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Member Ad: |
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Want to promote your firm through an ad like this? Click here. |
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New Monthly Feature: Monthly Member Missive Showcase your work!
We are looking for interesting relevant investment-related content that has been researched, written and published by local members holding the CFA designation to feature in this newsletter. Articles fitting this description will be included in our regular email broadcasts. If you have written something fitting, or would like to, please see details by clicking here or contact Maren Amdal for more information. |
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MENTORS WANTED! |
CFA Minnesota is looking for volunteers willing to mentor new members and candidates in the CFA program. This entails just a few hours of your time and helps introduce candidates to the Society. Please contact Josh Howard for more details. |
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Board Member Spotlight |
| Jacob M. Seltz
Chair, Education Comittee
Jake Seltz joined Wells Fargo in 1999 and is currently an equity analyst in its Wealth Management Group. Jake helps manage the group's internal equity investment process providing investment recommendations for Wells Fargo's Investment Managers. He also helps manage the group's proprietary large cap growth portfolio. Prior to his current role, Jake was an investment manager within Wells Fargo Wealth Management Group responsible for managing customized investment portfolios for high net worth individuals. Jake graduated with honors from Luther College with degrees in economics and mathematics/statistics. |
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Board of Directors Committee Updates |
Business/Financial Committee
Chair Jessica Murray would welcome new committee members.
Education Committee
Have an interest in supporting candidates or improving educational opportunities? Contact Chair Jake Seltz.
Employment Committee
Chair Kristine Mogollon is working to expand our current offerings to members seeking employment.
Membership Committee
This active committee is enhancing our new Mentor program. Contact Chair Jay Alexander with questions.
Programs Committee
Have you noticed the number of great programs we've offered recently? We always welcome suggestions. Send them to Chair Dan Aronson.
Public Awareness Committee
Coming to a TV near you: Look out for CFA MN spots on TPT! Want to help with this and other CFA MN outreach? Chair Karen Florez will be glad to chat.
Planning Committee
Vice President Robert Buss is helping oversee execution of the 2009-10 Annual Plan. |
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Welcome New Members! |
More than 80 new members joined CFA Minnesota in September. Welcome! |
Financial Funnies
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"I can't afford to retire on my planet, so I'm exploring other options." |
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New Monthly Feature: What'd I Miss? Summaries of past events
We hear from members every month who say "I just couldn't make that lunch last week on ________. What did I miss?" Starting this month, we'll summarize past events in our monthly newsletter. If you attended and want to add your two cents about an event, let Maren know! |
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Recommended Reading |
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Reading Minds and Markets: Minimizing Risk and Maximizing Returns in a Volatile Global Marketplace
 "Read Jack Ablin's 'five factor' approach to investing and you not only will sleep better at night, you'll be a smarter, wiser human being. Ablin takes you on his twenty-year journey toward a unified, rational approach to investing that can help you weather even the most turbulent financial storms. This book may be one of the best investments you will ever make." --John Callaway, Senior Correspondent, WTTW, Public Television
"This book is based on verifiable data trends and years of experience with a broad array of economic and market numbers. Regret over investment losses need not lead investors to disengage their brains or to be robbed again by schemes hawked as 'new and improved.' Reading Minds and Markets will help jump-start an honest investment dialogue that has been sidetracked by excesses of greed and fear." --Bill Barnhart, Former Financial Editor and Columnist for the Chicago Tribune
"The author has taken the complex world of investing and provided an extremely practical approach to success where others have failed miserably. His grasp of the financial markets makes him eminently qualified to develop an extremely sound and practical approach in order to protect and enhance wealth for investors." --Edward ("Ned") Riley, Jr., Former Chief Investment Officer for State Street Global Advisors and Chief Investment Officer, Riley Asset Management
"With nearly three decades of experience, Jack Ablin's superb intellectual thinking is reflected in Reading Minds and Markets. This is great reading for the motivated investor." --Professor Israel Shaked, Finance and Economics Department, Boston University, School of Management
You can do more to protect yourself from market risks and down markets. The secret: Understand the big picture and know when to shift money toward more promising industry groups, sectors, or asset classes. This strategy is called "global macro investing"--and, as Chief Investment Officer for Harris Private Bank, Jack Ablin has used it to deliver results for many of the world's wealthiest families and individuals. In Reading Minds and Markets, Ablin distills his techniques into a remarkably simple, commonsense five-step plan that any investor can use. You'll discover how to anticipate some of the more significant shifts in global markets and move investments toward areas that are more likely to grow. Equally important, you'll learn how to overcome bad habits that inevitably lead to failure--habits all too often reinforced by the financial media. In today's unforgiving markets, you need to make smarter high-level decisions and fewer mistakes: This book will help you do both.
Click here to for more information about this and other recomended reading available for purchase through our Amazon.com Store! Every time you shop at Amazon.com, you can support your local CFA Socity. Simply purchase through our Amazon.com portal - located on our home page. |
| Registering for Events |
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A note about event registration through our new website:
We are now taking advantage of the registration portal provided by CFA Institute. The new improved system includes attendance tracking, automatic application of CE credits, and an estimated savings for our society of more than $10,000 per year.
Using the system is simple. Each individual registrant must have a CFA Institute website log-in name and password. All that is required is first/last name and a valid email address. Unfortunately, at this time the new system does not allow guest registration in the same way our previous application allowed. Guests are welcome, but will need to have their own user name and password. As host, you are welcome to create this account for them. On-site registrations will be allowed as available, payable with check or by registering online on-site. |
| Networking |
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Join the CFA Minnesota Linkedin Group! |
| Social Networking |
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We have recently started a Facebook Group. Click here to begin networking with colleagues through this social networking utility. |
| Join Our List |
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Greetings!
Wow - What a whirlwind October! CFA MN hosted three events last month, culminating with our highly successful New Charterholders Dinner last Thursday. At our gala dinner and reception more than 120 people congratulated nearly 50 graduates and new Charterholders. Charters and certificates were handed out by CFA Institutes's CEO John Rogers and Board of Governors Chair, Tom Welch. While in the Twin Cities, CFA MN set up a series of meetings for John Rogers with CIO's and other local industry leaders. A big thanks to all those involved with setting up and attending these valuable meetings, especially our board volunteers.
This month, plan to attend our Monday afternoon event with State Street Global CIO, Rick Lacaille, on November 16th. From his office in London, and from his travels across the globe, Rick is uniquely qualified to comment on trends and issues in the world of investing. We hope this alternate day/time is accessible to many of you. We look forward to seeing you soon!
Sincerely,
Maren Amdal, Executive Director
CFA Society of Minnesota |
| FOOD FOR THOUGHT: Monthly Member Missive |
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Being Picky and Focused:
Why Cookie-cutter Investing Went Out With the 20th Century |
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 TealWood Reports
October, 2009
Tealwood Asset Management is an independent investment advisory firm that believes there are no short cuts to making sound investment decisions. For more than 20 years, the firm's seasoned professionals have utilized a value-based approach to investing. Tealwood management is disciplined in their research efforts to identify businesses from diverse industries whose shares are significantly under priced to their fundamentals. This investment approach has not waivered with time.
In the firm's most recent newsletter, Charlie Mahar, Tealwood's President and Chief Investment Officer, dispels the current cookie-cutter approach to investing which focuses on primarily household-name, large cap U.S. equities. This "good old days" approach, which worked well in the Golden Era from 1982 - 1999, may not benefit investors going forward. Mahar believes today's global market offers more attractive pockets of opportunity for focused investors.
To learn, more read their latest newsletter which can be found on the Tealwood website, or by clicking here. |
| November Educational Event: 11/16/09 |
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Insights from a Global CIO
Rick Lacaille is the Chief Investment Officer of State Street Global Advisors overseeing the investment management function of a $1.6 trillion investment organization. From his office in London, and from his travels across the globe, Rick is uniquely qualified to comment on trends and issues in the world of investing. The tumult in the capital markets, the resultant policy responses, and the changing landscape of global capital markets have provided a wealth of topics to discuss. Inflation is one such topic with some market participants declaring that inflationary concerns are overstated, while others list inflation as a real concern that must be addressed. Rick will explore both sides of the issue and will discuss the potential range of investor responses. Next, the actions of policy-makers fighting to avoid a cataclysmic melt-down of the financial markets were effective, but the dollar has been battered as a result. Rick will discuss the role of the dollar in the changing global landscape and explore the question of whether currency is truly an asset class. Finally, Rick will introduce a framework for investors who are aware of the all too frequent occurrence of the 100 Year Storm that raises havoc on portfolios. The concept is divergent investing and it can take the form of numerous strategies, all of which lend a degree of resilience to portfolios.
This afternoon event will feature light hors' devoures and beverages following the presentation, which will begin promptly at 4pm.
Please note the day and time as different from our norm: Monday, November 16th, 2009
3:30pm - Registration opens
4:00pm - Presentation
5:00pm - Reception
Radisson Plaza Hotel Minneapolis
New Sweden Conference Room
35 South 7th St.
Minneapolis, MN 55402
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Annual Economic Dinner: 1/28/10 |
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Save the Date! Talk to your firm about sponsoring now!
CFA Minnesota is excited to announce American political and cultural commentator, and columnist for the New York Times, David Brooks as the Speaker at our upcoming Annual Economic Dinner! More information is coming soon, but be sure to mark your calendars now!
David Brooks' Op-Ed column in The New York Times started in September 2003. He has been a senior editor at The Weekly Standard, a contributing editor at Newsweek and the Atlantic Monthly, and he is currently a commentator on "The Newshour with Jim Lehrer." He is the author of "Bobos In Paradise: The New Upper Class and How They Got There" and "On Paradise Drive : How We Live Now (And Always Have) in the Future Tense," both published by Simon & Schuster.
Thursday, January 28th, 2010
Hyatt Regency Minneapolis
1300 Nicolett Mall
Minneapolis MN 55403
Registration will Open Soon
$95/Members, $135/Non-Members
Thanks to our Early Bird Sponsors!
Is your firm interested in Sponsoring this great event? The earlier you Sponsor, the more promotional benefit!Talk to your firm about sponsoring now!
Contact Maren for information
on Sponsoring this gala event!
Early-bird sponsoring specials available through December 15th |
| WHAT DID I MISS?: |
October Events Summary |
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| Financial Servies and the US Economy: 10/08/09 |
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 The panelists in the "Financial Services & the Economy" program, co-sponsored by CFA MN in cooperation with the University of St. Thomas School of Law: Law & Economics Society, provided a fascinating set of differing perspectives on the financial crisis. Bridget Sperl, Senior Vice-President of Ameriprise Financial, shared the insider's perspective on how a service-oriented financial advisor responded to the panic and radical breach in consumer trust towards the financial services industry in the wake of the market collapse of 2008. Dr. Heino Beckmann, Associate Professor of Finance at the University of St. Thomas, provided a global perspective, contrasting the Anglo-American and the Continental European approaches to the crisis. Michael Cavanaugh Blaes, Senior Legal Counsel for U.S. Bancorp, analyzed the Obama Administration's decision to impose stress tests on American financial institutions and the efficacy of the test they devised. Robert Schnell, Partner at Faegre & Benson, reviewed the evolution of the market-based approach to regulation that led to the crisis and gave his predictions for the changes in regulation that are most likely to emerge as a result of the failure of the historical mode of regulation. An interactive Q&A was moderated by UST Professor Elizabeth R. Schiltz. |
| Retail in the Details: 10/14/09 |
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Should I Stay or Should I Go Now?
This panel discussion with the two top rated Retail analysts provided a thorough overview of the critical Back-To-School season and the outlook for Holiday sales. Deborah Weinswig leads the Retailing/Broadlines, Food & Drug, and Home Improvement team at Citi Investment Research. Jeff Klinefelter, a managing director and senior research analyst on the consumer team at Piper Jaffray focusing on specialty retailing, youth/teens; mass merchandising; and apparel and footwear brands. They both provided excellent insight on their top picks, with a lot of detail and "why" they liked their chioces. |
| New Charterholders Dinner: 10/28/09 |
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Congratulations New Charterholders!!
Nearly fifty honorees were recognized at a gala dinner attended by more than a hundred CFA MN members, friends, family and colleagues last Thursday night. President Leyla Kassem, CFA welcomed CFA Institute Board of Governors Chair Tom Welch, CFA and CEO John Rogers, CFA.
2009 Charterholders Dinner Honorees |
| ACG MN: November Luncheon 11/17/09 |
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 Monthly Meeting
Speaker, Richard Davis
President, US Bank
Tuesday, October 17th, 2009
11:30am - 1:15pm
Marquette Hotel
Minneapolis, MN
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| FPA MN: Symposium 2009 11/17/09 |
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Investing in a Restructuring Global Economy
The world is on a new path, attempting to reform itself after the recent turmoil. Please join Andrew Barker, Senior Portfolio Manager of the International Equity Strategies at Artio Global Management as he presents "Investing in a Restructuring Global Economy." Andrew will review the macroeconomic factors that contributed to growing instability in the world economy over the last decade. He will review the roles played by China and the Asian emerging markets in their pursuit of growth as well as the economic and trade policies of the US and Europe. Lastly, Andrew will draw some conclusions that may help investors trying to understand the impact of recent economic and market events.
Golden Vallye Country Club
November 17th, 2009 7:00-10:00am
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New Monthly Feature: Job Board Spotlight
Attention employers, recruiters and HR Personnell
Each day, more than 100 unique visitors review positions posted on our Job Board. To raise even greater awareness of your position posting, we're excited to offer this new monthly newsletter feature. For more information on being spotlighted, click here. |
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Your Open Position Here! |
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Employer: Your Firm
Location: Minneapolis, MN
Direct highly-qualified applicants to your position description by highlighting your firm's opening here. Our newsletter is distributed to nearly 3500 industry professionals - your target market. Contact Maren Amdal for more information.
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| Scholarship Application Deadline: Dec. 31 |
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CFA Minnesota will distribute scholarships for June exams. Apply Now!
 CFA Minnesota is pleased to offer scholarships to candidates taking the CFA exams. Society scholars pay only $220; all other exam registration costs are reimbursed. The deadline to apply for scholarships for June 2010 is December 31st, 2009.
Click here for more information and application material for CFA Minnesota Scholarships. |
| BSAS Practice Exam - only $50 |
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CFA Minnesota will again make available these high-quality exam prep aids. Order yours Now!
 CFA Minnesota is pleased to offer two options for exam study support through BSAS. Click here for more information and to order your copy today! |
| December Level 1 Candidate Study Group |
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Are you looking for a study group for Level 1?
 CFA Minnesota is working with member volunteer Travis Hoium to coordinate a study group for Level 1 candidates. Please contact Travis if you'd like to be involved with a study group! |
| Education Committee: |
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Get involved with your society!
With a new Chair and a full agenda, the education committee is ready for volunteers to help tackle a wide range of initiatives. The next committee meeting has been scheduled for 3:00pm on Wednesday November 11th. To learn more about volunteering with the education committee, contact Jake Seltz today. |
We're always striving to provide the best value to our members. Pricing events is always tricky as we try to break even financially while providing high value to members. We're considering a price change on our events to be more in allignment with our peer-organizations like CFPMN, CPAMN and ACG. Please take a moment to respond to this breif 3-question poll about event pricing.
Click here to let us know! |
Poll results from last Month:
In October, we asked you if you thought the exams have gotten more difficult. %36 of you said "No" and 43% said "About the Same", while 21% beleive the exams have indeed gotten more difficult over time.
Thank you for your feedback!
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