Upcoming Events

CFA Exam Study Group

Earning a CFA charter is a challenging path that requires extraordinary discipline, dedication, and support from those around you. CFA Society Baltimore is excited to announce the creation of a bi-monthly in-person study group led by a CFASB member and charterholder to support your study journey. The group’s goal is to offer an in-person study group setting where you can attend, as needed, and seek additional answers to questions and/or topics of your choosing.   Please note: This study group is not sponsored by CFASB, nor is it an official CFASB study group, however we are happy to support it.     Study Group Details What:  In-person study group meetings with current and former CFA candidates who work through your questions with you.   Who:  Open to all CFA program candidates (register in advance to submit any questions you may have)   When: The study group will meet four times (bi-monthly for two months) before each exam window from 5:30 - 7:00 pm. Projected dates are:    Where:  In person at Ceremony Coffee Roasters Harbor Point     If you are interested in participating in this study group, please take a moment to complete the following Google Form: https://forms.gle/ vDcnqe9ZHBGdeVMx8 .    If you are unable to access the Google Form, please respond with the following information:   Name Email What level are you studying for?  What is your test date? Dates you plan to attend Specific questions/topics you would like covered   Thank you for your interest.

Breakfast Presentation: Alpha Generation in Fixed Income – Why Active Works

Join us on Tuesday, May 6, when we welcome Zach Winters, CFA, Portfolio Manager and Senior Fixed Income Research Analyst from Victory Income Investors, for a breakfast presentation.   Passive equities and passive fixed income are not equal, and there are risks to viewing them as such. This session highlights some of the challenges passive fixed-income management can present to investors and an in-depth analysis of how active managers use different methods to generate alpha. This presentation demonstrates why credit wins over time and why investors should use duration as a risk management tool versus an alpha generator.   Session Key Takeaways: Investing in passive fixed income should not be equated with investing in passive equities due to structural differences in index construction. Attendees will learn that these risks include issuer concentration risk, issuance-based index construction (which impacts issuer concentration and interest rate risk exposure), and a limited opportunity set as the most commonly used index (U.S. Bloomberg Aggregate) only represents ½ of the available U.S. fixed income market. Passive equity indices have different requirements, and inclusion is generally a function of fundamentals – the most commonly used index (S&P 500) represents about 80% of available market capitalization. Forecasting interest rate movements or making duration bets is well documented to be challenging and not a reliable returns generator as you either win your bet or lose. A study completed by the University of California, Berkeley shows that out of 16,559 forecasts of unemployment, inflation, and economic growth (the longest and most complete forecasting project, the Survey of Professional Forecasters), forecasters were only correct ~23% of the time. This presentation will also cover that the market also is not the best guide for future interest rate moves as in the past 5 years market pricing of the Federal Funds Interest Rate 1 year in the future has been incorrect from a magnitude standpoint and/or a directional standpoint.   The presentation will cover the basics of credit risk and how investors are compensated for taking on additional credit risk. Attendees will learn that historically, credit has excess returns over Treasury securities despite experiencing more price volatility and that this volatility declines over longer holding periods. The presentation will also cover how credit spreads can be used to gauge whether current compensation for taking on credit risk is appropriate and how investors can position portfolios that best meet their risk appetite.   Members - $25.00 Nonmembers - $45.00 Thank you to our sponsor, Victory Capital.

Women's Networking Happy Hour

Please join us Wednesday, May 21st, at 5:30 PM, for our annual Women's Networking Happy Hour on the patio at True Chesapeake in Clipper Mill. Enjoy a glass of wine, mingle with your professional peers, and network while you enjoy fresh oysters and other light bites. All women finance professionals are welcome to attend, so feel free to spread the word to your female colleagues and networks. Space is limited. Sponsor opportunities are available. Please contact Robyn Osten for additional information.   CFA Society Baltimore Members - $25 Nonmembers - $40

CFASB Year-End Happy Hour

Please join us for a CFA Society Baltimore Year-End Happy Hour. Thursday, May 29, 2025 5:30 - 7:30 PM   CeCe's of Roland Park  The Village of Cross Keys 10 Village Square,STE 10 Baltimore, MD 21210   Members: Free Non-members: $25   Heavy hors d'oeuvres and cocktails. Business Casual. Parking is available.

Virtual Class: Introduction to Python for Business and Finance

This is a two-day class. June 4th: 5:30 - 9:00 PM June 5th: 5:30 - 9:00 PM Python is a high-level, object-oriented programming language that is used in a variety of projects ranging from data science and machine learning to backend web development. In fact, it is one of the most in-demand programming languages today. Learning Python is a great entry point into the technical world as the syntax is much easier to learn compared to other programming languages. Because of its syntax simplicity, Python is a common first programming language for business and finance individuals. But, do not be misinformed though! Just because Python has easier syntax does not make it any less powerful compared to other languages. Many of the world’s tech majors use Python as part of their technical ecosystems. This one-day, hands-on introductory course teaches students foundational Python concepts and how to use Python’s popular libraries to complete various technical tasks. Students are presented with Python coding challenges throughout the day to test their understanding of the material. The course culminates with a challenging in-class coding project where students apply concepts taught in the course to create a game . This is Cognitir's standard one-day Intro to Python course (7 hours of instruction) and may be broken up into several days. What This Course Offers ●  A solid Python foundation ●  Hands-on Python programming experience ●  Overview of different development environments ●  Overview of popular Python libraries ●  Course notes, certificate of completion, and post-seminar email support for 1 year ●  An engaging and practical training approach with a qualified instructor with relevant technical, business, and educational experiences   Who Is This For This course is relevant for any professionals who want to gain a hands-on introduction to Python. Course and Contact Information   Level: Beginner Prerequisite: None Duration: 1 day (7 hours) [email protected] +1 908 505 5991 (US) www.cognitir.com

Virtual Event: Overview of the Global Investment Performance Standards (GIPS)

Come join Kim Cash, CFA, CAIA, CIPM, CSCP a specialist in GIPS compliance consulting, verification, and education as she breaks down the GIPS Standards portion of the Level I CFA Curriculum. If you’re a CFA Candidate looking for a better breakdown on Global Investment Performance Standards (GIPS®), or if you’re looking to learn how to best apply the GIPS Standards or get the most out of them for your firm and clients, then this event is for you. The GIPS Standards were referenced in the SEC’s marketing rule for investment advisors 26 times, and private fund presentations are now required by FINRA to show GIPS compliant capital funding ratios. With practical lessons for every skill level and expertise, this event offers an in-depth overview of the GIPS standards and helps participants master the fundamentals. This discussion will follow CFA Institute’s Learning Outcome Statements for 2025 Level I CFA Curriculum Volume 10, Module 4: Explain why the GIPS standards were created, who can claim Compliance, and who benefits from compliance Describe the key concepts of the GIPS Standards for Firms Explain the purpose of composites in performance reporting Describe the fundamentals of compliance, including the Recommendations of the GIPS standards with respect to the Definition of the firm and the firm’s definition of discretion Describe the concept of independent verification

2025 Golf Tournament

The CFA Society Baltimore Golf Tournament is back! Hold the date! Additional information will be released soon!