NEWSLETTER

August 2019

The Forecast Dinner is time to do some

crystal ball gazing - and some reflection

too.

Join the light-hearted competition at the

21 October event and you could have the

honour of being 'Forecaster of the year' in

2020.

Jeff Stangl, CFA Society New Zealand Chair, gives an update on board

activities and the survey results

Dear members

There’s lots happening with the society. Three things we're focused on are:

• 21 October; the forecast dinner and masterclasses – please come along

• The new CPD offering on LinkedIn Learning – please sign-up; it’s free and very

worthwhile

• Starting a new comprehensive exam preparation programme – we’re working hard

to get this going and it will be a great benefit to candidates

Some updates from the board include:

• The board has adopted two new documents: [a board] Code of Conduct and an

Elections policy, including Nominations Committee. We will be appointing two new

board members at the AGM on 20 November.

• We’re investigating more activities and support for members outside Auckland. There

is a focus group in Wellington 14 October to get specific input from members.

• We want to work more proactively with members seeking to volunteer for the

society. This could take many forms, eg, a role on a committee or talking to local

candidates. Keep an eye out for information and please get involved if you’re

interested.

Survey results

We really appreciate the time members gave to complete the recent survey. Improved

understanding enables us to make society membership more valuable for members.

Over 70 members responded to the survey. Noah Schiltnecht, Makao Investments, Auckland

and Mike Gibbs-Harris, MGH Asset Management, Wellington, won tickets to attend the

Forecast Dinner and Masterclasses.

A few results/ graphs you may be interested in are:

1. The overall value CFA Society NZ provides members:

2. Members by region click here (this closely correlates with our database)

3. Current roles and what members aspire to next click here

Best regards

Dr Jeffrey Stangl, CFA

Have you delved into LinkedIn Learning yet?

Check out the 'Take 15' series

This is a collection of conversations with noted economists, best-selling authors,

leading researchers and successful practitioners on topics ranging from geopolitics

and whistle-blowing to irrationality and outlook. Click here for Take 15 if you've

already activated your membership

If you haven't joined up yet, email support@cfasociety.org.nz to get going

WHAT'S COMING UP

24 September, Auckland

Luncheon; Jean Brunel: Goals-

based wealth management and

asset allocation in practice

12-1.30pm, Northern Club, Auckland

We're pleased to welcome back Jean

Brunel, an engaging and interesting

speaker with a global insights and

extensive knowledge.

We've moved to a bigger room and there's

some places left, make sure you don't

miss out.

Find out more / register

19 September, Auckland

24 September, Wellington

INFINZ Derivatives masterclass

Hear from Kevin Morgan and enjoy the

INFINZ member rate

View flyer

24 September, Wellington

Serious Fraud Office perspective

on fraud in the financial sector

This event offered by Chartered

Accountants Australia NZ, may be of interest

to Wellington members. Julie Read, SFO

Chief Executive will present on trends and

methods of fraud, risk factors to consider,

and give high profile examples. 5.30-

6.30pm Find out more

5 October - still time to join!

Level 1 exam preparation

programme, Auckland

Candidates can purchase a

comprehensive package that includes 28

hours of live classroom instruction, Kaplan

Schweser study resources and other

benefits.

Classes start 5 October, but students

should sign up early to get access to the

materials. Find out more

14 October, Wellington

Wellington member focus group

Meet with Society Chair, Jeff Stangl after

work to share your ideas on future CFA

Society NZ activities in Wellington.

Date/time: From 5pm

Venue: To be advised

To attend email info@cfasociety.org.nz

15 October, Wellington

Luncheon; The rise of systemic

risk and the role of gold

Hear from Louis Boulanger, CFA

Date/time: 15 October 12-1.30pm

Venue: Jarden, Wellington

Price: Non-members $30 (GST incl)

Receive one CPD hour

Find out more / register

Thanks to Jarden for hosting this

event

21 October, Auckland

Gala Forecast Dinner

Early-bird pricing ends 13

September

Don't miss a great night out and the

opportunity to hear from a world

expert on behavioural finance.

Find out more / register

21 October, Auckland

Masterclass seminars

Four masterclasses will be held on the

day of the forecast dinner. Each topic will

have a panel of experts.

Masterclass one; The acceleration of

New Zealand venture capital industry

ambitions

12.10-1.20pm

Masterclass two; Is private equity

challenging the public markets?

1.30-2.40pm

Masterclass three; Hedge funds/ fund

of funds; Alpha generation in a low

interest rate environment

3.00-4.10pm

Masterclass 4, Real assets; a class of

their own?

4.20-5.30pm

Find out more / register

Thanks to ANZ for hosting the

masterclasses

13 & 14 November, Auckland

Fraud Film Festival - sponsored

by CFA Society NZ

ASB Waterfront Theatre

The aim of the festival is to increase public

awareness about fraud and foster cross-

industry collaboration in the fight against

it. Members will be able to purchase tickets

on both days (the first day is by invite) to

view films and documentaries about fraud

and its prevention, followed by live

discussions, to inspire awareness and

debate around these issues. More info will

follow.

20 November, Auckland

AGM, followed by Charterholder

Graduation

From 5.30pm

Northern Club, Auckland

- save the date -

23 November, Auckland

Live mock exams

Auckland and Wellington

Kaplan Schweser materials, exam

conditions

$50 (incl GST)

WHAT'S BEEN HAPPENING

Wellington members ditch the gym/couch/kitchen for the Churchill

It was great that so many Wellington members came out on a wintery night for a drink and

catch-up while the Auckland board members were in town.

MEMBER PROFILE

Lisa Dudson

Director, Saturn Advice

Lisa is an Associate Member of

CFA Society New Zealand

What are some of your career highlights so far?

I made my first investment when I was 16 and in my late 20s I turned my hobby of

investing into a career. I am fortunate that it has proven to be very rewarding and allows

me to live a very fulfilled and interesting life. For someone who immensely disliked English

at school it’s pretty cool that I have now written 10 books on personal finance and property

investing. The wonderful thing about this is, as its certainly not about the money, it is how

you can help educate people about money and investing.

What do you like most about your job/industry?

Freedom of choice has always been my motivator and I have found that it is similar for my

clients and money allows this. Through my writing, speaking and over 20 years in my

businesses in financial services it has been amazing to be able to help people grow their

wealth so that they have more choices in life to do the things they want. I regularly have

people tell me what a difference I have made in their lives and very few things top that!

What are your interests outside work?

I have travelled to over 80 countries and spend a few months overseas each year. I also

love yoga, the gym and am a pretty good cook which my partner and friends love.

Make a prediction for 2024

I have never been one for predictions as I tend to focus more on the here and now - the

things you can control today. Themes are likely to be: financial advisors will need to be

more holistic in their approach and not just focus on markets, increasing demand for

independence and transparency, with these in mind I am proud to be a director and

shareholder of Saturn Advice. Our advisers are on fixed incomes having no product

interest so we are well positioned for this.

SELECTIONS

The latest educational

content from CFA

Institute

August 2019

STRATEGIC INSIGHTS AND THOUGHT LEADERSHIP

The Behavioral Investor: Where the Mind Meets the Markets

Daniel Crosby ǀ Take 15 interview ǀ 0.25 CE

Four Headwinds to Economic Growth, Says Dallas Fed Chief

Paul McCaffrey ǀ Enterprising Investor blog

Indexing: Out with Tradition?

Nicolas Rabener ǀ Enterprising Investor blog

Short- and Long-Term Risk, Measurement, and Technology

Jon Danielsson ǀ Webcast ǀ 72nd CFA Institute Annual Conference ǀ 0.75 CE

Tontines: A Practitioner’s Guide to Mortality-Pooled Investments

Richard K. Fullmer, CFA ǀ CFA Institute Research Foundation Brief ǀ 1.25 CE

How Client Engagement Is Being Disrupted

Julie Littlechild ǀ Webcast ǀ CFA Institute Wealth Management Conference ǀ 1 CE

The Global Markets: Disruptions, Opportunities, and Risks

Mohamed A. El-Erian ǀ Webcast ǀ 72nd CFA Institute Annual Conference ǀ 1 CE

The Impact of Volatility Targeting (Digest Summary)

Campbell R. Harvey, Edward Hoyle, Russell Korgaonkar, Sandy Rattray, Matthew Sargaison, and Otto Van

Hemert ǀ Journal of Portfolio Management ǀ Summarized in CFA Digest ǀ 0.25 CE

INDUSTRY TRENDS, RESEARCH, AND COMMENTARY

Fabozzi: Finance Must Modernize or Face Irrelevancy

Paul Kovarsky, CFA ǀ Enterprising Investor blog

The Near-Term Forward Yield Spread as a Leading Indicator: A Less Distorted Mirror (Original Research Article)

Eric C. Engstrom and Steven A. Sharpe ǀ CFA Institute Financial Analysts Journal® ǀ 1 CE

The Near-Term Forward Yield Spread as a Leading Indicator: A Less Distorted Mirror (In Practice)

Phil Davis ǀ Financial Analysts Journal ǀ 0.25 CE

India: “The World’s Future Investment Hub”?

Paul McCaffrey ǀ Enterprising Investor blog

ESG Integration and Analysis in Asia Pacific: Markets, Practices, and Data

CFA Institute and Principles of Responsible Investment (PRI) ǀ Report ǀ 5 CE

Keep It Simple: 11 Rules for Equity Valuations

Paul McCaffrey ǀ Enterprising Investor blog

India's Demonetization and Digital Transactions

Sundar Balakrishna ǀ CFA Institute Asia-Pacific Research Exchange ǀ 0.5 CE

Challenging the Conventional Wisdom on Active Management: A Review of the Past 20 Years of Academic

Literature on Actively Managed Mutual Funds

K.J. Martijn Cremers, Jon A. Fulkerson, and Timothy B. Riley, CFA ǀ Financial Analysts Journal ǀ 0.5 CE

Geraldine Sundstrom: Navigating the “Recession Moment”

Julie Hammond, CFA ǀ Enterprising Investor blog

WEALTH MANAGEMENT, ETHICS, CAREER

Global Private Wealth Management

Philip Marcovici ǀ Webcast ǀ 72nd CFA Institute Annual Conference ǀ 1.75 CE

Ethics in Practice: Corporate Bond Trading. Case and Analysis

Jon Stokes ǀ CFA Institute Market Integrity Insights blog

Work and Leadership: Going It Alone

Barbara Stewart, CFA ǀ Enterprising Investor blog

Understanding the Secrets to Perfect Timing with Daniel Pink

Cheryl L. Evans ǀ 72nd CFA Institute Annual Conference blog

Crafting Compelling CVs and Resumes

Eleanor Anderson ǀ Interview ǀ Career Conversations ǀ 0.25 CE

UPCOMING CONFERENCES

23rd Annual GIPS® Standards Conference

Hosted by CFA Institute and CFA Society Phoenix ǀ 11–12 September 2019 ǀ Scottsdale, Arizona, USA

Women in Investment Management 2019: Opening Doors

Hosted by CFA Institute and CFA Montréal ǀ 18–19 September 2019 ǀ Montréal, QC, Canada

Fixed-Income Management 2019

Hosted by CFA Institute and CFA Society Boston ǀ 17–18 October 2019 ǀ Boston, Massachusetts, USA

Equity Research and Valuation 2019

Hosted by CFA Institute and CFA Society New York ǀ 14–15 November 2019 ǀ New York City, New York, USA

European Investment Conference

Hosted by CFA Institute and CFA Society Spain ǀ 25–26 November 2019 ǀ Madrid, Spain