Thursday, June 19, 2008
EVENING: 5:30pm to 8:00pm
Join our CFAOC Summer Wine Tasting Networking Event. Sample an award winning international wine selection and tasty hors d’oeuvres at WineStyles.
* 5:30 - 6:00 Welcome/Registration
* 6:00 - 8:00 Networking Event
WineStyles
2646 Dupont Drive, Suite C-20
Irvine, CA 92612
(next to Daily Grill off Jamboree)
Members and their guests FREE with RSVP.
Please RSVP: by Tuesday, June 17
Reservations are required. Cancellations must be made 24 hrs in advance. "No-Shows" will be billed $25.
Registration open to non-members for a fee of $25.00 with RSVP.

Thursday, April 10, 2008
LUNCHEON: 11:30am to 1:30pm
Investors' usual assumptions about risk and outlier events are unrealistic. So-called 5-sigma or even 10-sigma events have been occurring not every 100-years, like the proverbial flood, but much more frequently. While we try to understand these events as perfect storms, the harsher truth is that the financial markets are, as Mandelbrot suggests, prone to extremes. I.e., we live in a fat-tail world, not a bell curve one. How can investors generate alpha and manage risk? Dr. Kirschner will discuss the types of hedge funds that weather violent financial storms.
Speaker: Dr. Sam Kirschner, co-founder and managing member of MayerCap, LLC, a fund-of-hedge-funds asset management firm. Among his responsibilities is to conduct and publish research on early stage and specialized hedge funds. Previously, his management consulting practice specialized in both public and closely-held financial service companies; clients included Sun Trust Bank, Computer Science Corp, and two Forbes 400 families. He has co-authored six books, including The Investor's Guide to Hedge Funds. Dr. Kirschner holds a PhD in Clinical Psychology from Adelphi University.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP by Tuesday April 10, 2008
Members with RSVP, $10
Non-Members $50 with RSVP - Valet parking included

Wednesday, March 26, 2008
LUNCHEON: 11:30am to 1:30pm
Will discuss the multiple players and current turmoil in the credit markets: excess liquidity, the Fed, mtg lenders, rating agencies, and homeowners; the "alphabet soup" of subprime and related structures; the effect of the dramatic de-levering of the "shadow banking system" and PIMCO's economic outlook and strategy.
Speaker: Mike Trovato, VP and account manager with a focus on institutional client servicing; joined PIMCO in 2001 and spent four years in PIMCO's Product Management group, focusing on global and emerging market debt. Previously at Sutro & Co. and mPower Advisors. He has ten years of investment experience, a business economics BA from UCSB and an MBA from USC Marshall School.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP by Monday March 24, 2008
Members with RSVP, $10
Non-Members $50 with RSVP - Valet parking included

Wednesday, February 27, 2008
LUNCHEON: 11:45am to 1:45pm
An overview and analysis of emerging securities markets and their financial infrastructure. This encompasses an assessment of strategic risk factors in evaluating emerging market investments and in determining the stage of development for emerging markets. The role of emerging markets in a diversified investment portfolio is included. Recent work on African, Middle Eastern, and Eastern European markets will be presented to illustrate the linkages between global markets and their regulatory structures as they apply to foreign investors. An analysis of regulatory issues related to foreign investments in the U.S. markets and international regulatory concerns of the U.S. SEC can also be included. (This would include dealing with regulatory issues under the Patriot Act, such as anti-money laundering.).
Speaker: Robert A. Clark, CFA, Dean, School of Business Administration, University of Evansville. Dr. Clark is dean and professor of finance and international business. Dr. Clark is dean and professor of finance and international business at the School of Business Administration at the University of Evansville. Besides academic appointments at Butler University, the University of Tampa, and the University of Vermont, he has served as a U.S. Army administrative officer, pension administrator, and controller. He holds a PhD in finance from Purdue University and an MBA, a BA in Spanish, and a BS in business administration from the University of Maine. Dr. Clark teaches corporate and managerial finance, derivatives, investments, and international business. He has published in the Journal of Finance, Quebec Studies, The Journal of International Financial Markets, Institutions & Money, and other publications. He is also author of Africa's Emerging Securities Markets: Developments in Financial Infrastructure, Quorum Books, 1998. Dr. Clark served as a Fulbright Scholar at the Norwegian School of Management and as a guest faculty member at the Business and Economics University in Vienna. He received international research grant funding from the Canadian government to explore securities market integration and venture capital formation. His research includes an analysis of developing financial markets, securities market microstructure, working capital management, the integration and linkages of global securities markets, international securities regulation, and ethics in global business. He is a CFA charterholder.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP by Febuary 25, 2008
Members with RSVP, $10
Non-Members $50 with RSVP - Valet parking included

Tuesday, January 29, 2008
LUNCHEON: 11:45am to 1:45pm
As emerging countries develop, global production will gravitate toward lower cost frontier countries in Asia, Europe, the Middle East, Africa and Latin America, whose stock markets are not in the developed and emerging market indexes. Mr. Speidell will discuss the challenges and opportunities for investing in frontier-country markets.
Speaker: Lawrence S. Speidell, CFA, founding partner and CIO of Ondine Asset Management, sponsor of the Frontier Market Select Fund. He spent 11 years as a Trustee at Batterymarch Financial Mgt where he was a portfolio manager for domestic and int'l strategies. Mr. Speidell is a Past President of BSAS.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP by January 21, 2008
Members with RSVP, $10
Non-Members $50 with RSVP - Valet parking included

Saturday, January 26, 2008 7:30am - 5pm<
Host: Dean Andrew Policano, The Paul Merage School of Business at UC Irvine
Speakers: *Pamela Adams
*Tom Hopper, BNY Mellon
*Jim Leese, Ferruzzo & Ferruzzo LLP
*Michael Ashley Schulman, CFA, Hollencrest Capital Management
*Doug Freeman, IFF Advisors
*Irving Katz, Katz Financial
*Camille Jayne, Matters at Hand
*Joseph Volz & Shirley Quackenbush, Merrill
*Joan Payden, Payden & Rygel
*Lupe Erwin, Wood Gutmann & Bogart
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP on the web or to register by phone, contact Cristina Surpless at (949) 824-6042.
The standard program fee of $395 includes a comprehensive program presentation binder, continental breakfast, Keynote luncheon, and late afternoon wine reception. The fee for additional members of the same family is just $200 per person. Early bird discount is available.

Wednesday, December 5, 2007
11:30pm to 1:30pm
...11:30pm Networking
...12:00pm Lunch and New CFA Charter Presentation
...12:30pm Stock Contest Results
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626

Saturday, Nov 17, 2007: 8am - 5pm
UCI will host a CFA Level I Mock Exam. The cost is $50 - pay by check at the door - and e-mail Bill Campbell to register. You do not have to be a student to take this exam.
Location
UCI University Extension Building A
Rooms 101 & 102,
Irvine, CA
To Register: email bill@riskmitigationassoc.com and let him know you want to take the mock exam.
Cost is $50

Click Here For Info
Nov 7, 2007: 8am - 3pm
(includes lunch)
The conference brings together some of So Cal’s premier growth companies to present to investors, including: Edison, Avery Dennison, & Beckman Coulter
The Island Hotel
690 Newport Center Drive
Newport Beach, CA 92660
To Register: email bud@californiastocks.com and let him know you are part of CFAOC.
CFAOC Members FREE.

Behavioral Finance Report (pdf)

Tuesday, November 6, 2007
LUNCHEON: 11:45am to 1:45pm
The problem with finance is that markets are almost rational, but not quite. Understanding our emotional instincts can help us to make better, more profitable investment decisions. We examine the latest research in behavioral finance, in the areas of self-deception, oversimplification and social interaction, including representativeness, self-attribution bias, overconfidence, empathy gap, myopic loss aversion, trust and committee behavior.
Speaker: Lawrence S. Speidell, CFA, General Partner, Ondine Asset Management, is a founding partner and co-chief investment officer of Ondine Asset Management, sponsor of the Frontier Market Select Fund. Previously, he was executive vice president at Laffer Associates, an investment management and economic research firm. Prior to joining Laffer, Mr. Speidell was a partner and director of global research and management at Nicholas Applegate, where he launched the firm's emerging markets products and developed and enhanced the firm's international and global quantitative disciplines. He also was a trustee at Batterymarch Financial Management, where he was a portfolio manager for domestic and international strategies, was responsible for one of the first equity funds in China, and worked on the development of a fund for Russia. Mr. Speidell was senior vice president and portfolio manager at Putnam Management Company, where he served as a member of the firm's Investment Policy Committee. He is a past president of the Boston Securities Analysts Society and a past director of the Investor Responsibility Research Center in Washington, D.C. Prior to working in the investment business, Mr. Speidell served as a submarine officer in the U.S. Navy and was an auditor with Arthur Anderson & Co. He holds a B.E. in mechanical engineering from Yale University and an MBA from Harvard University.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP by November 4, 2007
Members with RSVP, $10
Non-Members $25 with RSVP - Valet parking included

October 24, 2007
EVENING: 5:30pm - 8pm
A lively discussion about topics ranging from investment strategy, global trends, and the local economy
Panelists from multiple firms:
Donald Straszheim, Vice Chairman for ROTH Capital
Michael Ashley Schulman, CFA, Director/Senior Portfolio Manager, Hollencrest Capital Management
Jonathan Lansner, Business Columist OC Register
The Clubhouse Restaurant
South Coast Plaza
3333 Bristol Street, Suite 2802
Costa Mesa, CA 92626
Telephone (714) 708-2582
For Info and Registration: $90 cost

Thursday, September 27, 2007
EVENING: 5:30pm to 8:00pm
Join us for our Annual CFAOC Networking Wine Tasting Event. Sample an award winning international wine selection and tasty hors d’oeuvres at WineStyles.
* 5:30 - 6:30 Annual Meeting
* 6:30 - 8:00 Networking Event
WineStyles
2646 Dupont Drive, Suite C-20
Irvine, CA 92612
(next to Daily Grill off Jamboree)
Please RSVP: by Sunday, Sep. 22, 2007
Members FREE with RSVP.
Non-Members $25 with RSVP.
Reservation is required. Cancellations must be made 24 hrs in advance. "No-Shows" will be billed $25.

Thursday, August 9, 2007
LUNCHEON: 11:45am to 1:45pm
SAP, current and future strategies.
Speaker: Friderike Edelmann, SAP
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP:
Members FREE with RSVP, $10 @ door;
Non-Members $10 with RSVP, $20 @ door - Valet parking included
This event will qualify for 1.5 CE Credit

Friday, August 24, 2007
Pregame dinner: 5:30pm
Game time: 7:05pm
Organizer: Tim Stone, CFA
Angel Stadium of Anaheim
2000 Gene Autry Way
Anaheim, CA 92806
Please RSVP:
CFAOC will cover the cost of tickets, food, and drink for 2 people.
This event will qualify for no CE Credits; ...we tried.

Wednesday, June 27, 2007
LUNCHEON: 11:45am to 1:45pm
The search for investment talent focuses on People, Process and Philosophy to produce Performance. Ron describes advances in performance evaluation and attribution that set the talent barometer to each manager's unique approach; success evaluated relative to an appropriate goal: e.g., we evaluate Tiger Woods using golf criteria, not football or bowling. In this session we'll cover: a) The CFA Institute's recommendations; b) Alternatives to peer groups; c) Custom benchmarks; and d) Attribution.
Speaker: Ron Surz, CIMA President & CEO, PPCA, Inc. and Principal, RCG LLP.
Ron Surz has held senior positions in investment consulting and financial services industry 1972 and is President of PPCA Inc., a firm that provides complex investment monitoring, performance attribution and related analytic tools. Ron's original research has been published in the Journal of Investing, The Journal of Portfolio Management, The Financial Analysts Journal, The Journal of Performance Measurement, Pensions & Investments, Senior Consultant, IMCA Monitor, Pension Fund Investment Management, Portfolio & Investment Management, and the Handbook of Equity Style Management. Mr. Surz is also active with the Investment Management Consultants Association (IMCA) and has served as a member of its Board of Directors since 1998. He has also served IMCA as Chairman of its Standards of Practice Board, Editor of the IMCA Monitor, and is Co-Chairman of its Committee on Alternative Investment Strategies. Ron is also a member of the After-Tax Performance Reporting Standards Sub-committee for CFA Institute and Armies Investment Performance Council.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP:
Members FREE with RSVP, $10 @ door;
Non-Members $10 with RSVP, $20 @ door - Valet parking included

Tuesday, June 12, 2007
EVENING: 5pm - 8pm
Celebrate being part of the global investment profession. CFA Day will bring community and members together in a collegial way to look at where we came from and talk about the future
Headline Speaker: Ex-UCLA Basketball Coach John Wooden John Wooden, creator of the Pyramid of Success and author of multiple books, is considered the greatest college basketball coach in history. In Coach Wooden's last twelve years as coach, UCLA won ten National Collegiate Athletic Association (NCAA) championships. In the 27 years he led the Bruins, they never had a losing season. Their record of 88 consecutive winning games will probably never be surpassed.
Panel speakers CFAOC Past Presidents
UCI Bren Events Center
(Intersection of) Mesa Rd. and West Peltason Dr.
Irvine, CA 92617
For Sponsorship Information

To RSVP

Monday, June 4, 2007
Day: 9:30am - 4:30pm
Agenda: Golf - Shotgun start - Box Lunch - Dinner, Awards and Prizes
Benefit: Proceeds benefit the CFA Society of Orange County Foundation and Financial Planning Association of Orange County student memberships
Panel speakers CFAOC Past Presidents
Marbella Country Club
30800 Golf Club Drive
San Juan Capistrano, CA 92675
949-248-3700
For details and registration form
Contact Dave Little at 714-738-0220 or davelittle(a)msn.com with questions. Hope to see you there!

May 23 and 24, 2007
EVENING Session #1: May 23, 4pm - 5pm
EVENING Session #2: May 24, 6pm - 7pm
CFAOC analysts and portfolio managers annually volunteer to judge the NIRI Annual Reports Contest.
Volunteers from multiple firms, local colleges and universities.
Roth Capital
24 Corporate Plaza Drive
Newport Beach, CA 92660

May 10, 6:30pm - 9pm
Exciting evening at the Mercedes Benz Classic Center in Irvine: enjoying excellent food, drinks and meeting new people. Panelists will share opinions on current investment trends and themes in their area of expertise.
Panelists from multiple firms:
Ivo A. Tjan, Chairman, President and CEO of CommerceWest Bank
Matthew Witte, Co-Founder and Managing Partner at Marwit Capital
Alex Hayden, Executive Director at Cushman & Wakefield
Michael Ashley Schulman, CFA, Director/Senior Portfolio Manager, Hollencrest Securities
Mercedes Benz Classic Center
9 Whatney
Irvine, CA 92618
Please RSVP:
$20 in advance; $25 @ door

Tuesday, May 1, 2007
LUNCHEON: 11:45am to 1:45pm
Evolution of beta strategies as vehicles to gain exposure to niche and esoteric asset classes. Beta approaches to US Micro Cap, Int'l Small Cap, Emerging & Frontier Markets are now within investor's grasp. Unconventional asset classes including Global RE, Timber & Infrastructure may also be accessed through beta strategies.
Speaker: Amy Schioldager Head of US Equity Indexing Products, Managing Director, Barclays Global Investors. Amy Schioldager is responsible for BGI's Index Products in the US for both Domestic and International Equities including portfolio management, research and strategy. Prior to Amy's current responsibilities, she managed the Domestic Equity Portfolio Management team for five years, Transition Management team for two years and the International Equity Portfolio Management Group for six years. She was responsible for the launch of the first ETF portfolios, WEBS, in 1996 and has been with BGI since 1989.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP: Members FREE with RSVP, $10 @ door;
Non-Members $10 with RSVP, $20 @ door - Valet parking included

April 23-25, 2007
Regular registration rate is $2,795, the CFAOC discount rate is $1,995.
Members were emailed a discount code.
Multiple speakers
The Beverly Hilton
9876 Wilshire Blvd.
Beverly Hills, CA 90210
For Info and Registration

Tuesday, April 24, 2007 5pm - 7:30pm
This program will be of interest to members who wish to consider changing their attitudes toward investment, and possibly pursuing a more active or progressive stance towards their investments. It will be of benefit for those persons who have contact with the managers of investment assets, or those who want a higher level of contact. CFALA and the Applied Behavioral Finance Group have assembled a blue ribbon panel of professionals specializing in activist investing. Shareholder activism is a way in which shareholders can influence a corporation's behavior by exercising their rights as owners. Although shareholders don't run a company, there are ways for them to influence the board of directors and management. These can range from dialogue with management to voice their concerns about a particular issue to formal proposals that are voted on by all shareholders at a company's annual meetings.
Event Chair Holmes R. Osborne III, CFA
Speakers/Panels Michael McConnell manages Shamrock Capital's Activist Team. Shamrock, along with Stanley Gold and Roy Disney, were instrumental in instigating Michael Eisner's departure from Disney. Tim McCandless is a partner at Chapman Capital. Chapman Capital is a Los Angeles, CA based investment advisor focusing on takeover and turnaround investing. Over the past ten years, Chapman Capital has agitated successfully for the restructuring or sale of over twenty publicly-traded companies. Joe Huber was a managing director at Hotchkis & Wiley. Hotckis & Wiley takes positions of up to 15% in companies and votes proxies and meets with management. Frank Partnoy, professor of Law at the University of San Diego, has written an influential paper on activist investing and its benefits to the economy.
Omni Hotel
251 S. Olive St., Downtown Los Angeles
For directions call (213) 617-3300
Agenda, Registration and more info
$50.00 for CFAOC, otherwise $60. Valet parking $10

Thursday, April 19, 2007
LUNCHEON: 11:45am to 1:45pm
Performance attribution is relevant to most investment managers and has been widely used in the investment industry, but few are equipped to apply it:
- What performance attribution is?
- Why attribution is a critically important tool for the investment process?
- Contrasting the various types and optional approaches to attribution;
- A brief overview of equity and fixed income models.
Speaker: David Spaulding [click for Bio] Founder and President of The Spaulding Group, Inc.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP: Members $10 with RSVP, $20 @ door;
Non-Members $25 with RSVP, $35 @ door - Valet parking included

Tuesday, April 17, 2007 9:30am - 3:30pm
Pre-Register by April 5 is $50.00, otherwise $60.
Student discounts may apply.
Speakers, workshops & panels.
Omni Hotel in downtown Los Angeles
Agenda, Sponsorship, Registration and more info

March 20, 2007 - 10AM Pacific Time
Michael Stutzer webcast presentation on his Nov/Dec 2006 Financial Analysts Journal article. To forecast a typical future cumulative return, estimate the median future cumulative return rather than the mathematical expected cumulative return.
Visit cfawebcasts.org to listen.

Wednesday, March 14, 2007
11:45am to 1:45pm
Speaker: Dr. Cecil W. Jackson, CPA and Chartered Accountant, is Professor of Clinical Accounting at the Leventhal School of Accounting in USC's Marshall School of Business.
The Center Club
650 Town Center Drive
Costa Mesa, CA 92626
Please RSVP
RSVP $10; at door $20; Non-Members $25

March 4 - 7, 2007
Gratis for CFAOC members; regular registration rate is $750 to $1,700.
Discount info was emailed to members.
Multiple speakers:
Keynote speaker: Marvin Zonis, Professor Emeritus, from University of Chicago’s Graduate School of Business.
Hyatt Regency Huntington Beach Resort & Spa
21500 Pacific Coast Highway
Huntington Beach, California 92648
FREE for CFAOC members