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Conference Program Table of Contents Agenda 3 Conference Chairs 12 Moderators & Speakers 14 Our Partners 42 Exhibitors 44
AIMSE 2017 Fall Conference October 11–12 Princeton Club New York CONFERENCE PROGRAM TABLE OF CONTENTS AGENDA 3 CONFERENCE CHAIRS 12 MODERATORS & SPEAKERS 14 OUR PARTNERS 42 EXHIBITORS 44 As a participant in the CFA Institute Approved-Provider Program, AIMSE has determined that this program qualifies for 5 credit hours. If you are a CFA Institute member, credit for your participation in this program will automatically be recorded in your CE tracking tool. AGENDA OCTOBER 11, 2017 12:00 pm – 6:00 pm Registration 1:15 – 1:30 pm Welcome Remarks James Madison Room CONFERENCE CO-CHAIRS Tim Hill Vice President, Sales & Marketing Q- Emerging Markets Corp. Michael Gillis Senior Vice President, Business Development Greystone Managed Investments, Inc. AIMSE PRESIDENT Carolyn Patton, CFA Head of Distribution Americas First State Investments 1:30 – 2:10 pm What’s Going On? James Madison Room To kick off the conference we will hear from leading industry thinkers about the state of the industry today and where it is headed tomorrow. What are investors thinking given the ever-changing global investment landscape and how will that lead to changes in portfolio allocations? MODERATOR Bart Marchant Institutional Regional Director, Southeast WisdomTree Asset Management SPEAKERS Safia Mehta, CFA Senior Vice President, Portfolio Manager Progress Investment Management Company, LLC Timothy Ng Chief Investment Officer Clearbrook Timothy Taylor Senior Investment Officer, Global Equity Florida State Board of Administration Mark Yusko Chief Executive Officer & Chief Investment Officer Morgan Creek Capital Management 3 2:15 – 3:10 pm New York State of Mind James Madison Room With over a trillion dollars of investable assets in pension plans, endowments, foundations and family offices, the State of New York is home to one of the largest pools of capital available to investment managers. -
Managed Futures Outlook 2017
Choppy Currents or AlternaRCMt ves Smooth Sailing? Managed Futures Outlook 2017 621 South Plymouth Court | Chicago, IL 60605 | 855-726-0060 www.rcmalternatives.com | [email protected] RCM Alternatives: Managed Futures Outlook 2017 RCM Managed Futures 2017 Outlook This non correlated investment stuff sure can be frustrating, can’t it? Fig. 1: Asset Class Performance 2016 There you are in mid-February of last year thanking your lucky stars for diversifying into non correlated managed futures investments as they sat up 5% on the year while stocks were down -5%; only to finish the ASSET CLASS 2016 year like this: See fig. 1 U.S. Stocks 11.81% Yes, after a flat year in ’15, and despite some real value provided to Commodities 9.94% start the year - ’16 was pretty much a fail… with the SG Managed U.S. Real Estate 7.02% Futures Index down -2.66% after starting out so strongly. Beyond the World Stocks 4.31% index, bellwethers such as AQR – Managed Futures Strategy Fund Bonds 2.45% (-8.43%) and Aspect – Diversified Fund (-9.16%) couldn’t escape the Hedge Funds 0.70% down year, although there were winners in the alternative space, both Cash 0.15% amongst established names such as Quantitative Investment MGMT Managed Futures -2.66% (GIM) Global Program QIM (+16%) and in the emerging space with funds such as the Attain Relative Value Fund (+16%). And while the Past performance is not indicative of future results. absolute value wasn’t so bad, anyone can live with a small single digit *Source information can be found on pg. -
The Blow-Up Artist: Reporting & Essays: the New
Annals of Finance: The Blow-Up Artist: Reporting & Essays: The New ... http://www.newyorker.com/reporting/2007/10/15/071015fa_fact_cassid... ANNALS OF FINANCE THE BLOW-UP ARTIST Can Victor Niederhoffer survive another market crisis? by John Cassidy OCTOBER 15, 2007 n a wall Niederhoffer’s approach is eclectic. His funds, a friend says, appeal “to people like him: self-made people who have a maverick streak.” O opposite Victor Niederhoffer’s desk is a large painting of the Essex, a Nantucket whaling ship that sank in the South Pacific in 1820, after being attacked by a giant sperm whale, and that later served as the inspiration for “Moby-Dick.” The Essex’s captain, George Pollard, Jr., survived, and persuaded his financial backers to give him another ship, but he sailed it for little more than a year before it foundered on a coral reef. Pollard was ruined, and he ended his days as a night watchman. The painting, which Niederhoffer, a sixty-three-year-old hedge-fund manager, acquired after losing all his clients’ money—and a good deal of his own—in the Thai stock market crash of 1997, serves as an admonition against the incaution to which he, a notorious risktaker, is prone, and as a reminder of the precariousness of his success. Niederhoffer has been a professional investor for nearly three decades, during which he has made and lost several fortunes—typically by relying on methods that other traders consider reckless or unorthodox or both. In the nineteen-seventies, he wrote one of the first software programs to identify profitable trades. -
Introduction
THE NEW YORK PUBLIC LIBRARY FOR THE PERFORMING ARTS THE OLIVE WONG PROJECT PERFORMANCE COSTUME DESIGN RESEARCH GUIDE INTRODUCTION COSTUME DESIGN AND PERFORMANCE WRITTEN AND EDITED BY AILEEN ABERCROMBIE The New York Public Library for the Perform- newspapers, sketches, lithographs, poster art ing Arts, located in Lincoln Center Plaza, is and photo- graphs. In this introduction, I will nestled between four of the most infuential share with you some of Olive’s selections from performing arts buildings in New York City: the NYPL collection. Avery Fisher Hall, Te Metropolitan Opera, the Vivian Beaumont Teater (home to the Lincoln There are typically two ways to discuss cos- Center Teater), and David H. Koch Teater. tume design: “manner of dress” and “the history Te library matches its illustrious location with of costume design”. “Manner of dress” contextu- one of the largest collections of material per- alizes the way people dress in their time period taining to the performing arts in the world. due to environment, gender, position, economic constraints and attitude. Tis is essentially the The library catalogs the history of the perform- anthropological approach to costume design. ing arts through collections acquired by notable Others study “the history of costume design”, photographers, directors, designers, perform- examining the way costume designers interpret ers, composers, and patrons. Here in NYC the the manner of dress in their time period: where so many artists live and work we have the history of the profession and the profession- an opportunity, through the library, to hear als. Tis discussion also talks about costume sound recording of early flms, to see shows designers’ backstory, their process, their that closed on Broadway years ago, and get to relationships and their work. -
Squash Program
Youth Squash Program What is Squash? According to an article published in Men’s Fitness Magazine: You'll need a racquet, an opponent, a ball, and an enclosed court—most colleges and large gyms have them. Alternate hitting the ball off the front wall until someone loses the point. This happens when you allow the ball to bounce twice, or when you whack it out of bounds—below the 19-inch strip of metal (the "tin") along the bottom of the front wall, or above the red line around the top of the court. First one to 11 points wins the game; best of three or five wins the match. It may sound simple, but Squash is a challenging and rewarding game. And no one in South Jersey does it better than Greate Bay Racquet and Fitness. Why should you choose Greate Bay Racquet and Fitness Squash program? Greate Bay Racquet and Fitness is South Jersey's premiere racquet sports facility. Our full-service Squash club features: Four Squash courts o Two International Singles Courts o Two North American Doubles Courts Coaching from our full-time Squash professional Access to our Squash pro shop Lessons and clinics A track-record of successful juniors programs The best amenities for proper training; Locker rooms, Steam Room, Sauna 1 Youth Squash Program Greg Park – Squash Professional Greg Park is the Head Squash Professional at Greate Bay Racquet & Fitness Club. He is a Touring Squash Professional who is currently ranked 10th in the World and 2nd in the United States by the SDA Pro Tour. -
Grant Trophy: January 13, 1945 the University Club, New York, NY
Grant Trophy: January 13, 1945 The University Club, New York, NY Canada 1 USA 10 Winner Scores Alastair Grant,Montreal,QC David McMullin,Philadelphia,PA USA 15-9,15-11,15-11 Sam Morrison,Montreal,QC William E.Slack,Philadelphia,PA T.Douglas Sinclair,Montreal,QC Clifford Sutter,New York,NY USA 15-10,15-5,15-6 George A.Roberts,Montreal,QC J.Bart.McGuire,Greenwich,CT Clarence Booth,Montreal,QC Neil J.Sullivan,Philadelphia,PA USA 15-8,10-15,15-9,15-6 Dwight Magee,Montreal,QC Roy R.Coffin,Philadelphia,PA Hugh McKay,Montreal,QC M.Donald Grant,New York,NY USA 16-13,15-7,15-4 Johnny Johnston,Montreal,QC John J.Smith,New York,NY George Rattee,Montreal,QC R.D.Jerry Day,Philadelphia,PA USA 15-4,15-5,17-14 Frank Fitzpatrick,Montreal,QC J.Watson Malone,Philadelphia,PA Ray Perrault,Montreal,QC Tevis Huhn,New York,NY USA 15-10,15-11,15-10 Peter Kenrick,Montreal,QC Williamson H.Pell,Jr,New York, Jules E.Lareau,Montreal,QC William E Lamble,Baltimore,MD CAN 15-9,18-17,7-15,15-12 Guy Lefaivre,Montreal,QC John J Morrison,Baltimore,MD Charles Passingham,Montreal,QC Harold S.Tenney,Greenwich,CT USA 15-7,15-6,15-9 Kurt Wiele,Montreal,QC D.Lee Norris,Cedarhurst,LI,NY Henry Johnson,Montreal,QC Seymour H.Knox,Buffalo,NY USA 8-15,18-15,15-11,11-15,15-7 C.A.(Dinny) Dinsmore,Montreal,QC Darwin P.Kingsley Philadelphia,PA Robert B.Bell,Montreal,QC Seymour H.Knox 3rd,Buffalo,NY USA 10-15,15-7,12-15,15-10,15-8 B.Anthony Mallon,Montreal,QC Darwin P.Kingsley 3rd,Philadelphia,PA A.Johnson,Montreal,QC Abraham M.(Sonny)Sonnabend,Boston,MA USA 15-9,17-18,15-12,15-7 R.Christopher -
Economic Warfare: Risks and Responses
Economic Warfare: Risks and Responses Analysis of Twenty-First Century Risks in Light of the Recent Market Collapse Kevin D. Freeman, CFA Cross Consulting and Services, LLC Originally published June 2009 The views and conclusions contained in this document are those of the author and should not be interpreted as necessarily representing the official policies, either expressed or implied, of the Government. The report was originally published under contractual arrangement with a sub- contractor of the Department of Defense Irregular Warfare Support Program (IWSP) per contractual arrangement between the sub-contractor and Cross Consulting and Services, LLC. Per that contract, ―IWS(P) may use the work product and reports in related government support efforts with proper attribution.‖ This copy is provided to IWSP with full permission to distribute to the Financial Crisis Inquiry Commission for their review and inquiry. The author and Cross Consulting and Services, LLC retain copyright and other intellectual property rights. Kevin D. Freeman, CFA Cross Consulting and Services, LLC Tel: 866-737-2728 Fax: 877-201-2637 E-mail: [email protected] Economic Warfare: Risks and Responses Executive Summary Serious risks to the global economic system were exposed by the crisis of 2008, raising legitimate questions regarding the cause of the turmoil. An estimated $50 trillion of global wealth evaporated in the crisis with more than a quarter of that loss suffered by the United States and her citizens. A number of potential causative factors exist, including sub-prime real estate loans, a housing bubble, excessive leverage, and a failed regulatory system. Beyond these, however, the risks of financial terrorism and/or economic warfare also must be considered. -
USCIS - H-1B Approved Petitioners Fis…
5/4/2010 USCIS - H-1B Approved Petitioners Fis… H-1B Approved Petitioners Fiscal Year 2009 The file below is a list of petitioners who received an approval in fiscal year 2009 (October 1, 2008 through September 30, 2009) of Form I-129, Petition for a Nonimmigrant Worker, requesting initial H- 1B status for the beneficiary, regardless of when the petition was filed with USCIS. Please note that approximately 3,000 initial H- 1B petitions are not accounted for on this list due to missing petitioner tax ID numbers. Related Files H-1B Approved Petitioners FY 2009 (1KB CSV) Last updated:01/22/2010 AILA InfoNet Doc. No. 10042060. (Posted 04/20/10) uscis.gov/…/menuitem.5af9bb95919f3… 1/1 5/4/2010 http://www.uscis.gov/USCIS/Resource… NUMBER OF H-1B PETITIONS APPROVED BY USCIS IN FY 2009 FOR INITIAL BENEFICIARIES, EMPLOYER,INITIAL BENEFICIARIES WIPRO LIMITED,"1,964" MICROSOFT CORP,"1,318" INTEL CORP,723 IBM INDIA PRIVATE LIMITED,695 PATNI AMERICAS INC,609 LARSEN & TOUBRO INFOTECH LIMITED,602 ERNST & YOUNG LLP,481 INFOSYS TECHNOLOGIES LIMITED,440 UST GLOBAL INC,344 DELOITTE CONSULTING LLP,328 QUALCOMM INCORPORATED,320 CISCO SYSTEMS INC,308 ACCENTURE TECHNOLOGY SOLUTIONS,287 KPMG LLP,287 ORACLE USA INC,272 POLARIS SOFTWARE LAB INDIA LTD,254 RITE AID CORPORATION,240 GOLDMAN SACHS & CO,236 DELOITTE & TOUCHE LLP,235 COGNIZANT TECH SOLUTIONS US CORP,233 MPHASIS CORPORATION,229 SATYAM COMPUTER SERVICES LIMITED,219 BLOOMBERG,217 MOTOROLA INC,213 GOOGLE INC,211 BALTIMORE CITY PUBLIC SCH SYSTEM,187 UNIVERSITY OF MARYLAND,185 UNIV OF MICHIGAN,183 YAHOO INC,183 -
Practical Speculation
nied_a01fm.qxd 1/24/03 10:40 AM Page i Practical Speculation VICTOR NIEDERHOFFER LAUREL KENNER John Wiley & Sons, Inc. nied_a01fm.qxd 1/24/03 10:40 AM Page i nied_a01fm.qxd 1/24/03 10:40 AM Page 1 More Praise for Practical Speculation “Practical Speculation distills an unusual breadth of hard-won (and costly) ex- perience and insight into an immensely readable and instructive book. Bulls and Bears are drawn and quartered alike by the authors’ exquisitely honed quantitative scalpel.” Stephen M. Stigler Professor of Statistics University of Chicago “In my judgment, Victor Niederhoffer is the single most insightful speculator in the world. This new book displays Victor’s unique gift for recognizing the subtle confluence of seemingly disparate events. Although this book is par- tially a guide on investment strategy, it is principally a remarkable explanation of market function.” Herbert London John M. Olin Professor of Humanities, New York University President, Hudson Institute “Whatever Victor Niederhoffer writes is worth reading—not once but at least twice. His analysis of markets is as brilliant as it is unorthodox. Readers will discover a host of nuggets in Practical Speculation that will stretch their minds and tease their imaginations.” Lawrence S. Ritter John M. Schiff Professor of Finance Emeritus New York University “Victor Niederhoffer outdoes himself beginning with the first paragraph of the introduction. Victor and Laurel uniquely see the interrelationships and de- pendencies among the complex factors that are daily life and are able to inter- pret observations in terms of how people will react to the sequences of events. -
Taleb Turned the Inevitability of Disaster Into an Investment Strategy
April 22 & 29, 2002 DEPARTMENT OF FINANCE Blowing Up How Nassim Taleb turned the inevitability of disaster into an investment strategy One day in 1996, a Wall Street trader named Nassim Nicholas Taleb went to see Victor Niederhoffer. Victor Niederhoffer was one of the most successful money managers in the country. He lived and worked out of a thirteen-acre compound in Fairfield County, Connecticut, and when Taleb drove up that day from his home in Larchmont he had to give his name at the gate, and then make his way down a long, curving driveway. Niederhoffer had a squash court and a tennis court and a swimming pool and a colossal, faux-alpine mansion in which virtually every square inch of space was covered with eighteenth- and nineteenth-century American folk art. In those days, he played tennis regularly with the billionaire financier George Soros. He had just written a best-selling book, "The Education of a Speculator," dedicated to his father, Artie Niederhoffer, a police officer from Coney Island. He had a huge and eclectic library and a seemingly insatiable desire for knowledge. When Niederhoffer went to Harvard as an undergraduate, he showed up for the very first squash practice and announced that he would someday be the best in that sport; and, sure enough, he soon beat the legendary Shariff Khan to win the U.S. Open squash championship. That was the kind of man Niederhoffer was. He had heard of Taleb's growing reputation in the esoteric field of options trading, and summoned him to Connecticut. -
How to Lose Money in Derivatives: Examples from Hedge Funds and Bank Trading Departments Sebastien Lleo William T
How to Lose Money in Derivatives: Examples From Hedge Funds and Bank Trading Departments Sebastien Lleo William T. Ziemba SRC Special Paper No 2 May 2014 ISSN 2055-0375 Abstract What makes futures hedge funds fail? The common ingredient is over betting and not being diversified in some bad scenarios that can lead to disaster. Once troubles arise, it is difficult to take the necessary actions that eliminate the problem. Moreover, many hedge fund operators tend not to make decisions to minimize losses but rather tend to bet more doubling up hoping to exit the problem with a profit. Incentives, including large fees on gains and minimal penalties for losses, push managers into such risky and reckless behavior. We discuss some specific ways losses occur. To illustrate, we discuss the specific cases of Long Term Capital Management, Niederhoffer’s hedge fund, Amaranth and Société Genéralé. In some cases, the failures lead to contagion in other hedge funds and financial institutions. We also list other hedge fund and bank trading failures with brief comments on them. JEL classification: G01, G21, G23, G33 Keywords: hedge fund trading disasters, over betting, Long Term Capital Management, Amarath and Société Genéralé This paper is published as part of the Systemic Risk Centre’s Special Paper Series. The support of the Economic and Social Research Council (ESRC) in funding the SRC is gratefully acknowledged [grant number ES/K002309/1]. Sebastien Lleo is Associate Professor of Finance at NEOMA Business School William T. Ziemba is Alumni Professor (Emeritus) of Financial Modeling and Stochastic Optimization at the Sauder School of Business, University of British Columbia and Research Associate, Systemic Risk Centre, London School of Economics and Political Science Published by Systemic Risk Centre The London School of Economics and Political Science Houghton Street London WC2A 2AE All rights reserved. -
Hemsing Associates Hemsing Associates
Hemsing Associates, Inc. 401 East 80th Street, Suite 14H New York, NY 10021-0650 Tel.: 212/772-1132 Fax: 212/628-4255 [email protected] HEMSING ASSOCIATES Public Relations for the Arts Josephine Hemsing Managing Director Dan Cameron Managing Director Martin Wittenberg Publicity Associate Claire Arkin Publicity Associate Joanna Malinowska Graphics Designer www.hemsingpr.com FOR IMMEDIATE RELEASE NEW YORK CITY OPERA BOARD SIGNS AGREEMENT TO TRANSFER ITS NAME AND INTELLECTUAL PROPERTY TO NYCO RENAISSANCE, LTD. TO REVIVE COMPANY UNDER NEW LEADERSHIP WITH A RETURN TO LINCOLN CENTER Major Philanthropists At NYCO Renaissance Helm: Investment Manager Roy Niederhoffer , Chairman Financier Jeffrey Laikind, President Roy Niederhoffer Spearheads Effort With $1Million+ Pledge; New Board Pledges $2.6Million New Board Appoints Michael Capasso as General Director #newNYCO December 8, 2014, New York City—In an historic turnaround, the Board of Directors of New York City Opera, which filed for Chapter 11 in October of 2013, voted to recommend to the U.S. Bankruptcy Court a sale of the New York City Opera name, related intellectual property, and the New York City Opera Thrift Shop to NYCO Renaissance, Ltd—a new and independent 501(c) 3 tax-exempt organization. New York City Opera has signed an Asset Purchase Agreement with NYCO Renaissance, Ltd. with respect to these assets, which remains subject to Bankruptcy Court approval. With these assets, NYCO Renaissance, Ltd. intends to bring about the rebirth of New York City Opera under new leadership and return the company to Lincoln Center. NYCO Renaissance is delighted to restore an operatic tradition beloved by audiences not only in New York but throughout the world.