SM 2. Good Insight Into The Social Ecosystem
“Customers, employees, and suppliers are empowered” through social media, said Barbara Gray, CFA, Equity Analyst and Founder of Brady Capital Research, (BCR) and this fosters the growth of firms that behave responsibly to them. Her company actively promotes investment in companies with “positive social capital.” Gray was the second panellist (of four) to address the topic “The Impact of Social Media on the Investment Process” at a CFA Toronto Society gathering held in the gallery of the TMX Broadcast Centre on the evening of May 21, 2014. As an example of negative social capital, she cited a case of Air […]
SM 1. Don’t be afraid to share a joke
When it comes to social media, “a common misconception is that you have to be on all platforms,” said Jennifer Guo, Account Executive, Talent Solutions at LinkedIn. Instead, she advised, “decide which is your priority platform” and stick with that. Guo was the first of a four-member CFA Toronto Society panel speaking in the gallery of the TMX Broadcast Centre on the evening of May 21, 2014 on the topic “The Impact of Social Media on the Investment Process.” The event, sponsored by the Equity and Derivatives Committee of CFA Toronto, was introduced by Chris Sheridan, Senior VP, Institutional Sales […]
A Day in the Life: Risk Managers
Financial risk management is a stimulating and worthwhile livelihood, according to four panellists who convened on May 14, 2014, to describe their careers in the industry. A rainy afternoon did not discourage an audience of about sixty risk professionals and students from attending the meeting of the Toronto Chapter of the Global Association of Risk Professionals which was held in the new KPMG offices on Bay Street. Xiaobo Wang, Director of Credit Risk Audit at Scotiabank, acted as the evening’s moderator. He posed several questions to four panellists: the nature of their work, what is a “typical day,” and how […]
Risk Volunteers: Two Profiles
While attending the Toronto chapter of the Global Association of Risk Professionals meetings, we at TextMedic notice a few dedicated volunteers doing everything from handing out name badges to introducing guest speakers. Of course, that’s just the tip of the iceberg—these folks also do a lot of unseen labour such as holding organizational meetings and composing e-mail broadcasts and twisting arms of reticent (and busy) subject matter experts. Thanks to the local chapter, TextMedic has reported in the past on live events about things like pension plan risk, a low volatility equity strategy, and risk data aggregation and reporting. Since National […]
8 Things About a Winning Team
“Our firm is kind of like a teaching hospital,” said Kim Shannon, President, Founder and CIO of Sionna Investment Managers. The second part of her presentation to the CFA Society Toronto at the National Club on March 5, 2014, described what she looks for in her employees, and how the team works. Below are eight insights on selecting and retaining top talent. Grow their own – Shannon noticed early on that the most successful investment firms grew their own talent, namely, they hired junior employees and trained them over a period of years for senior positions. Greed is not good – […]
The Value Proposition
“I believe financial statements are as much marketing documents as statements of fact,” said Kim Shannon, President, Founder and Chief Investment Officer of Sionna Investment Managers. She was addressing a crowd of analysts and financial managers at a breakfast meeting organized by the CFA Society Toronto on March 5, 2014, in the historic National Club. The first part of Shannon’s presentation tied in directly with her new book, The Value Proposition. Shannon wrote 80 pages of the first draft, and then stopped while she established the company and guided it through the next decade (which included the 2008 financial crisis). Years […]
Pension Plan Risk, Old and New
“It’s not about volatility of returns; it’s about volatility of funded status,” said William da Silva, Senior Partner at AON Hewitt, a multinational company specializing in risk management and human resources. He was referring to financial risk management in the face of the developing pension crisis. He was the second of two speakers on the evening of January 30, 2014 at the GARP Toronto Chapter meeting held at First Canadian Place at King & Bay, Toronto. “It’s been a decade of pain,” da Silva said, noting that the median solvency ratio of pension plans had gone from a healthy 110 percent funded […]
A Low Volatility Equity Strategy
Despite conventional wisdom, “the returns on more volatile equities have not exceeded the historical returns on less volatile equities,” said Grant Wang, Senior Vice-President and Head of Research at Highstreet Asset Management in London, Canada. He was the first of two speakers at the GARP Toronto Chapter meeting held at First Canadian Place at King & Bay, Toronto on the evening of January 30, 2014. Wang began with a brief survey of the increased volatility in equity markets over the past several years: the 2001 tech bubble, the 2008 housing crash, and the 2011 European debt crisis. “VIX has posed […]
Exchange-Traded Funds: Beyond Beta?
“An ETF is a structure, not a strategy,” said Som Seif, founder of Claymore Investments, purchased in 2012 by BlackRock. He was addressing an afternoon roundtable on exchange-traded funds at the downtown offices of the CFA Society Toronto on November 28, 2013. ETFs are gaining attention nowadays, he said, because “lower fee investment management is the current trend.” Trained as an engineer, Seif noticed early on in his financial career that “indexing tended to win out,” net of fees. “I don’t believe markets are efficient,” he said, nor does he think that market capitalization is necessarily the best way to […]
Europe: Is the worst over? Part II.
“Deleveraging takes a long time, and it is painful,” said Philippe Ithurbide, Global Head of Research, Analysis and Strategy at Amundi Asset Management. In the second part of his presentation to the CFA Society Toronto on November 19, 2013, he discussed solutions to European financial difficulties. Deleveraging must be helped along in order to shorten the time and reduce negative socioeconomic impacts. “Never in history have we seen the deleveraging of all the players at the same time.” “Banking credit is faltering everywhere in the euro zone,” said Ithurbide. Euro zone bank credit is still highly fragmented by nation, with […]