Newsletter -  March 2018
  Issue #34


 
Directors:

President - 
Greg Filbeck, CFA,FRM,CAIA,CIPM,PRM

Vice President- 
George Emanuele, CFA

Treasurer - 
Joe Lantz, CFA,CAIA

Research Challenge- 
Josh Armstrong, CFA

Secretary-
Jim Herrington,CFA, CAIA

Programs & Media Relations- 
Lisa Brignoni, CFA

Membership Outreach - 
Cale Grove, CFA

Financial Literacy/University Outreach -
Gene Natali, CFA

Executive Administrator -
Caryn Loehr


President's Message:
 
Welcome  to the 34th issue of the CFA Society of Pittsburgh's Newsletter .
 
Hope everyone is having a great month!
 
Congratulations to University of Pittsburgh who won our regional CFA Research Challenge! We wish them the very best as they advance to the Americas competition in Boston later this month. A big thanks to Josh Armstrong and his army of volunteers who made the entire experience a complete success!
 
On March 7th, we were fortunate to host Paul Smith, CEO of the CFA Institute for a dinner meeting. Earlier in the day, Paul visited both PNC and Federated. Great presentation about the future direction of the CFA Institute!
 
Don't forget our next quarterly networking session will take place at Olive or Twist on March 27th from 5:00 to 8:00pm. These events are an excellent opportunity for casual conversations with old friends and chance to make some new ones!
 
Lisa Brignoni has highlighted recent events - and some exciting future luncheons forthcoming! The primary goals of the newsletter are to keep members and supporters of the Pittsburgh Society informed about the society's activities and foster greater community involvement by all members.

- Dr. Greg Filbeck, CFA, FRM, CAIA, CIPM, PRM 
President, CFA Society Pittsburgh

Putting Investors First

The CFA Society Pittsburgh site has added a link for Putting Investors First. This is an opportunity for all investment professionals to assert that they have an understanding of the 10 Investor Statement of Rights and pledge to adhere to these statements. Please join us in making investors aware of their rights and letting them know you hold yourself to the highest of standards.
Upcoming Events

CFA Society of Pittsburgh Networking Social

Join your fellow society members to catch up on the latest events. This event is free for members and drinks and appetizers are provided


When: March 27, 2018, 5:00 - 8:00 PM
Where: Olive or Twist, Downtown Pittsburgh
April Luncheon - Catherine Banat, Institutional Portfolio Manager, RBC Global Asset Management 


Catherine Banat will provide a definitional overview of economically targeted investments and ESG investing followed by specific Pennsylvania examples of ETI. She will share our ESG survey results and lead a discussion on why ETI/ESG is becoming increasingly relevant to you and your clients.

Catherine Banat is responsible for servicing the firm's impact investing clients and ensuring that investment solutions are implemented based on each client's customized impact requirements. Prior to joining RBC GAM, Catherine managed strategic initiatives, risk and compliance for The New York City Retirement Systems, a $150 billion public pension plan, where she also researched, developed and implemented the strategic plan for the Economically Targeted Investment (ETI) program. Previously, she served as Managing Director of C3 Capital LLC. Catherine has dedicated her entire career to the financial services industry and has held senior level positions at various firms including Paloma Partners, Goldman, Sachs & Co., JP Morgan and Lehman Brothers. She earned a BA in History and a BSE in Management from The University of Pennsylvania and the Wharton School, as well as an MBA in Finance from Columbia University. Catherine holds FINRA Series 7 and 63 licenses.


When: April 11, 2018 at 12:00 - 1:00 PM
Where: Rivers Club, Downtown Pittsburgh

In addition to our regular luncheon program, the winners of the Research Challenge and Financial Plan competitions will present to the group before our speaker.
May Luncheon - Sameer Somal, CFA, CFP®, CAIA, CFO of Blue Ocean Global Technology 


The Digital Revolution is accelerating our access to knowledge and revolutionizing how we communicate. Finance is grounded on quantifiable metrics and knowledge gained through the rigors of the CFA program. While a technical framework is required and fundamental to a successful career in finance, we overlook the importance of what we can only measure qualitatively, including networking. Success in life is a function of our interpersonal relationships.
 
Networking is a learned skill and does not require the personality of an extrovert. A memorable introductory conversation and exchange of business cards will increase relationship capital after applying a process for patient and purposeful follow-up. Creating a network of trusted friends and colleagues, who will provide information, introductions, mentoring and partnership, will expand your personal and professional opportunity set. Results follow planning, practice, and commitment.

Sameer Somal is the Chief Financial Officer at Blue Ocean Global Technology and Blue Ocean Global Wealth. Prior to co-founding Blue Ocean Global Wealth, he was a Senior Investment Analyst at The Bank of Nova Scotia and a Financial Advisor and Intermediary at Morgan Stanley and Merrill Lynch & Co. As part of the Investment Strategy Group at The Bank of Nova Scotia, Sameer delivered keynote presentations and fostered education partnerships nationally. Sameer is a CFA Charterholder, a CFP® professional, and a Chartered Alternative Investment AnalystSM. Sameer serves on the Financial Planning Association (FPA) National Diversity Committee and the Board of Directors of the Philadelphia/Tri-State FPA. A senior financial services leader on industry roundtable and panel discussions, Sameer serves on CFP Board's Council on Education and is a Women's Initiative (WIN) Advocate. He is an active member at CFA Institute, serves on the Advisory Executive Council of the Women Economic Forum (WEF), and is a Board Advisor at the iPlan Education Institute in New Delhi, India


When: May 9, 2018 at 12:00 - 1:00 PM
Where: TBD

Stay tuned for the calendar invite!

Boy and Girl Scouts Finance and Investment Merit Badges - May 5, 2018

Last year the Society sponsored a sold-out session for Boy Scout Personal Management. New for 2018, coursework in the Girl Scout Financial Literacy-series will be offered alongside the Boy Scout curriculum. 

In this co-ed class, young men and women in Junior and Senior High will learn how to budget and plan for a major purchase, in this case, the appropriate new car given life's realities (spouse, family size, budget). Attendees will track their spending habits for 13 weeks, and learn basic investment concepts such as: stocks, bonds, compound interest, borrowing, APR, credit cards, credit score, credit report, and of course buy low/sell high. Coursework also includes time management skills and behavioral finance issues, and will touch on charitable giving, of time and money, as well as one's potential future job.

CFA Society Pittsburgh Board members Jim Herrington, Gene Natali, and Lisa Brignoni, along
with Carmen Herrington will be the class facilitators. For registration information please contact ptm-scouts@his-here.com , or the PA Trolley Museum at Phone: (724) 228-9256. Last year's event sold out quickly, and despite a reserving a room twice as large, we anticipate May 5th will also sell out.
Highlights from Recent Events

2018 Investment Research Challenge     
    

Congratulations to the University of Pittsburgh team for winning this year's regional CFA Research Challenge. The team presented their valuation of Wesco and will advance to the Americas competition later this month in Boston.
  • Taha Ahmed 
  • Megan Vogel
  • Ethan McCarthy 
  • Jun Lin
  • Yuguang Li
We wish them the best of luck!

We'd also like to thank all of the participating teams for their hard work and dedication. All teams spent an incredible amount of time preparing their analyses, reports and presentation.
2018 Annual Stock Pickers' Contest


On February 14, 2018, we kicked off the annual stock pickers' contest with last year's winner, Malcolm Polley. Joining him this year are: Mark Rodgers, Nick Stone and Bob McGee. We'll follow their stock picks throughout the year and determine the winner with the highest returns as of December 31, 2018.
March Dinner with Paul Smith



March 7, 2018 we had the privilege of hosting Paul, CEO and President of the CFA Institute for a special dinner and networking event. Paul discussed both the history and future of the institute and profession.
CFA Society Pittsburgh Annual Act 48 accredited Financial Literacy Conference


Our 3rd  annual Financial Literacy Act 48 Program continuing education for High School educators was held on March 8th  in partnership with The Missing Semester and Allegheny Intermediate Unit. High School educators from forty one schools participated in the program - all of whom now have a copy of the 2018 CFA Society Pittsburgh "classroom poster" (picture below), and a classroom set of The Missing Semester.


The program was a success, and included presentations from Society members, Gene Natali, Reed Natali and Dina Muth and student members Jason Pettner, John McDermott and Ben Lowery - all from Penn State Behrend. Guest speakers included representatives from PHEAA and the Pennsylvania State Treasurers Office. This program continues to expand each year, and we have high expectations for the 2018-19 school year. We also continue to study the efficacy and impact of these efforts, and this year designed a school specific "fact sheet" helping individual educators measure the impact of their financial literacy teaching. This is in partnership with the research team of CFA Society President Greg Filbeck and his team. 

Annual Partner Sponsors

CFA Society Pittsburgh would like to thank its partnership sponsors for their support of the Society.


 

GOLD