The CFA Society of Austin
presents its
8th Annual Forecast Dinner
Uncommon Sense for the Thoughtful Investor
followed by
JUST A SLOWDOWN, OR ARE THE BEARS BACK?
Thursday, January 26, 2011
AT&T Executive Education & Conference Center
Located on the University of Texas campus
1900 University Avenue
Austin, Texas 78705
Program Agenda
5:00 pm Registration and Cocktails
5:30 pm Keynote Presentation by Howard Marks
6:45 pm Dinner Begins
7:15 pm Opening Remarks and Panel Introduction
7:30 pm Speaker Panel and Q&A
9:00 pm Evening Concludes
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Keynote Speaker: Howard Marks
Howard Marks is chairman of Oaktree Capital Management, which he co-founded in 1995 and built into an elite alternative and non-traditional investment company with over $60 billion in assets under management. Marks had almost 20 years of experience in high-yield bonds and distressed debt when he and five associates established Oaktree, and today the firm has more than 550 employees and offices in 14 cities worldwide.
Marks graduated from the University of Pennsylvania’s Wharton School and earned an MBA from the University of Chicago’s Graduate School of Business. He is a CFA charterholder and a Chartered Investment Counselor. Marks serves as a trustee of the University of Pennsylvania and chairs its investment board.
After four decades in the investment industry during which his client memos have become legendary, Howard has for the first time distilled his wisdom into a single volume. In it he draws on these memos to spell out the keys to successful investment and the pitfalls that can destroy capital or ruin a career.
Marks expounds on such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Through a frank assessment of his own decisions ̶ and occasional missteps ̶ he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Applying a lifetime of insight to today's volatile markets, the book is part memoir and part creed with a number of broad takeaways for both the Wall Street veteran and the novice investor.
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Panelist Biographies
Robert C. Doll, Chief Equity Strategist, Blackrock
Bob Doll is BlackRock’s Chief Equity Strategist for Fundamental Equities. Mr. Doll is also the head of the US Large Cap Series equity team and has primary portfolio management responsibility for these products. As of 30 September 2011, BlackRock's assets under management total US$3.3 trillion across equity, fixed income, cash management, alternative investments and real estate strategies.
Mr. Doll’s service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, he served as the President and Chief Investment Officer and Senior Portfolio Manager of the Merrill Lynch Large Cap Series Funds.
Prior to joining MLIM, Mr. Doll served as the Chief Investment Officer of Oppenheimer Funds. He received a BS in Accounting and a BA in Economics from Lehigh University and an MBA from the Wharton School of the University of Pennsylvania. Mr. Doll is both a Certified Public Accountant and a Chartered Financial Analyst.
Click Here to view Mr. Doll's presentation.
Robert Arnott, Chairman & Founder, Research Affiliates
For 30 years Robert Arnott has worked to bridge the worlds of academic theorists and financial markets. He pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation and the Fundamental Index® approach to indexation. In 2002, he established Research Affiliates as a research-intensive asset management firm that explores novel approaches to active asset allocation, optimal portfolio construction, and more efficient forms of indexation.
Rob has published more than 100 articles in journals such as the Journal of Portfolio Management, the Harvard Business Review, and the Financial Analysts Journal, where he also served as editor in chief from 2002 through 2006.
Rob is an honors graduate of the University of California, Santa Barbara. He graduated summa cum laude from the University of California, Santa Barbara in 1977 in economics, applied mathematics, and computer science. He is co-author of The Fundamental Index: A Better Way to Invest (Wiley 2008).
Moderator: Charles Gasparino
Charles Gasparino is a senior correspondent for Fox Business Network. Prior to joining FBN, Gasparino was an on-air editor for CNBC where he was responsible for breaking some of the biggest stories affecting the financial markets during the recent financial crisis, including the first reports of AIG’s government bailout, details behind the collapse of Lehman Brothers and the shakeups at Merrill Lynch and Morgan Stanley.
Before joining CNBC, he was a senior writer at Newsweek where he broke major stories involving Wall Street and corporate America. Gasparino also served as a writer for the Wall Street Journal where he was nominated for the Pulitzer Prize in beat reporting in 2002 and won the New York Press Club award for best continuing coverage of the Wall Street research scandal.
He is a columnist for The Daily Beast and a frequent contributor to the New York Post, Forbes, and other publications. Previously, he was the on-air editor for CNBC and wrote for Newsweek and the Wall Street Journal.
He has won numerous business journalism awards and is the author of several bestselling books on Wall Street and financial markets including Blood on the Street, King of the Club, The Sellout, and his latest book, Bought and Paid For. He received a B.A. from Pace University and a Masters degree in journalism from the University of Missouri. He resides with his wife in New York City.
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