1
Introduction
This media guide is designed to assist members of the Dallas media community in
reaching and working with educated, knowledgeable investment professionals who are
committed to sharing their investment knowledge with the media, the public, and
others.
We in the Dallas Society of Financial Analysts, or “DSFA,” want to do all we can
to help you as you research and report on matters related to financial analysis,
investing, and related topics. As you will see in the Media Contact section of this
guide, we are a diverse group of investment and financial professionals, all of whom
are actively involved in supporting the local chapter of the Association for Investment
Management and Research® (“AIMR”), the DSFA, and all of whom share an important
credential, our CFA®.
The next two sections of this guide describe AIMR® and the CFA® designation.
We hope that you will feel free to contact any of the members of our society who
have volunteered to serve as media contacts, or to contact any of the members of the
DSFA Board of Directors, should you have questions, need assistance or information
related to financial or investment issues, or have suggestions to offer us.
Sincerely,
Matt L. Peden, CFA®
President, DSFA
Julia Cunningham, CFA®
Public Awareness Chair, DSFA
A special thank you goes to Deloitte & Touche for assistance in preparing this guide.
1
2
About the Association for
Investment Management and
Research®
The Association for Investment Management and Research® (“AIMR”) is a nonprofit association of more than 60,000 financial analysts, portfolio managers, and
other investment professionals from more than 100 countries.
AIMR®’s mission is to serve its members and investors as a global leader in
educating and examining investment professionals and sustaining high standards of
professional conduct.
AIMR® sets the highest standards for investment professionals worldwide
through, among other activities, its Code of Ethics and Standards of Professional
Conduct to which all CFA® charterholders and other AIMR® members – as well as all
CFA® candidates – commit to adhere. In addition, AIMR® is internationally renowned
for its leadership in developing Global Investment Performance Standards® (“GIPS®”),
establishing the global Investment Performance Council, and for developing AIMRPPS® standards, which, like GIPS®, investment firms use to document and report
investment results.
AIMR® is active throughout the world, with membership around the globe,
including 127 local societies and chapters in 46 countries. With its headquarters in
Charlottesville, Virginia, USA, AIMR® also has staff in Hong Kong and London.
The Research Foundation of AIMR® sponsors practitioner-oriented research
through funding and publishing a diverse assortment of monographs, tutorials, and
research papers to broaden investment professionals’ knowledge and understanding.
More information on AIMR® and its programs and services is available by calling 800-247-8132 or
434-951-5499 or by visiting www.aimr.org.
2
3
The CFA® Designation and Program
The CFA® (Chartered Financial Analyst®) Program is a graduate-level, self-study
curriculum and examination program for investment specialists, especially securities
analysts, money managers, and investment advisors. Established in 1962, the CFA®
Program sets the global standard for investment knowledge, standards, and ethics.
Earning a CFA® charter tells clients, employers, and colleagues that the
charterholder has mastered a rigorous curriculum covering a broad range of investment
topics and is committed to the highest ethical standards for the profession.
To earn the CFA® designation, a candidate must pass three sequential, six-hour
examinations over at least three years, work as an investment professional for at least
three years, commit to abide by the AIMR® Code of Ethics and Standards of
Professional Conduct, and reaffirm this commitment annually.
Some CFA® Facts
CFA® candidates enrolled in 2003
Number of current CFA® charterholders worldwide
Gender of current charterholders
Nations of residence of current CFA® charterholders
Exam sites worldwide in 2003
First year CFA® exam was administered and charters were awarded
111,476
50,355
19% - Women
81% - Men
115
more than 260
1963
Number of candidates who sat for the exam in 1963
284
Number of charters awarded in 1963
268
Minimum number of years required to earn the CFA® charter
Average number of years candidates take to earn the CFA® charter
Length of each of the three exams
Average number of hours candidates study for each exam
3
4+
6 hours
250+
3
Subjects Tested
•
Ethical and professional standards
•
Securities analysis
•
Financial accounting
•
Quantitative analysis
•
Economics
•
Portfolio management
Questions Include
•
Problems
•
Cases
•
Essays
•
Multiple-choice
•
“Item set”
4
4
About the DSFA
The DSFA (“Dallas Society of Financial Analysts”), formerly the Dallas
Association of Investment Analysts, was founded to provide interchange between
investment managers; promote good fellowship among those whose primary
occupation was investment analysis; improve analytical procedures and techniques;
promote a broader understanding of the investment management profession; and
encourage and support the CFA® professional accreditation.
Of equal importance has been its mission to promote high standards of
professional conduct among its members. For approximately 50 years, these
objectives have guided the society and its membership, and the society now plays a
vital role within the North Texas investment community.
The DSFA is now among the largest of the more than 125 FAF/AIMR® member societies and
affiliates, and its members serve as leaders in the AIMR® and the FAF.
Our Website, www.dsfa.net, provides additional information about the society.
5
5
DSFA Officers and Directors
Officers
President
Vice President - Membership
Vice President - Programs
Vice President - Scholarship/University Liaison
Matt L. Peden, CFA®
mpeden@absbc.org
Shawn D. Howard, CFA®
showard@frontierinvest.com
Lyndon J. E. Westerberg, CFA®
lyndon.westerberg@jpmorgan.com
Gary G. Walsh, CFA®
gwalsh@lkcm.com
Secretary
William C. Ketterer, CFA®
william.ketterer@bankofamerica.com
Treasurer
Sharon L. Criswell, CFA®
scriswell@almfirst.com
Past Presidents
Royce W. Medlin, CFA®
Scott L. Miller, CFA®
David B. Ackerman, CFA®, CFP
Daniel S. Meader, CFA®, CPA
David W. Wiley, CFA®
Board Members
Academic Liaison
Dr. Larry J. Lockwood, CFA®
l.lockwood@tcu.edu
AIMR® Liaison/Newsletter
David V. Ekstrom, CFA®
dekstrom@jke.com
Director
Sukhi Jolly, CFA®, CPA
ssj@jollycapital.com
6
Director
David W. Wiley, CFA®
davewiley@alumni.duke.edu
Director
John W. Winslow, CFA®
jwwinslow@aol.com
Job Placement/Career Development
Newsletter
Public Awareness
Technology
Paul Olschwanger
pfo@osearch.org
Kevin Hardage, CFA®
rkhardage@ustrust.com
Julia C. Cunningham, CFA®
jnccunningham@yahoo.net
Richard C. Knocke, CFA®
craig.knocke@bbh.com
University Liaison
David W. Aler, CFA®, CPA
daler@graniteprop.com
Volunteer Coordinator/Social Events
David V. Lewis, CFA®
david_lewis@fcminvest.com
7
6
Media Contacts
David Ackerman, CFA®, CFP
david@ackermancapital.com
Market strategy and commentary, asset allocation,
portfolio management, mutual fund investing, and retirement planning
214-361-5383 (office)
214-528-5295 (home)
David Aler, CFA®, CPA
daler@graniteprop.com
Real estate, investment, financial modeling
and reporting, hedging, and credit analysis
972-731-2320 (office)
972-731-2362 (fax)
Dan Meader, CFA®, CPA
dan@trinityadvisors.net
Equity valuation, accounting, and private equity
972-918-9533 (office)
Royce Medlin, CFA®
rmedlin@belmonttrust.com
www.belmonttrust.com
www.belmontasset.com
Individual security valuation/analysis, investment management,
portfolio management, and diversification strategies
214-559-9951 (office)
214-559-9075 (fax)
214-363-0101 (home)
214-923-5756 (cell)
Scott Miller, CFA®
scottmiller@millerglobalinvestments.com
Global investing in developed markets
(United States, Europe, and Japan)
214-665-6930 (office)
David Wiley, CFA®
davewiley@alumni.duke.edu
All areas of CFA® examination preparation - materials
and seminars
817-862-1231 (office)
817-862-1210 (fax)
Joe Wells, CFA®, CPA, Ph.D.
jowells@deloitte.com
Valuation of business corporations and securities
and decisionmaking financial analysis
214-840-7676 (office)
214-840-7677 (fax)
8
DALLAS SOCIETY OF
FINANCIAL ANALYSTS
DALLAS CHAPTER OF THE ASSOCIATION FOR INVESTMENT
MANAGEMENT AND RESEARCH
2003-2004 MEDIA GUIDE
CONTACT INFORMATION
AND