Chicago Quantitative Alliance

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July 2023


July Newsletter

Keep up to date on the latest CQA news.

CQA Updates:

This edition marks our one year anniversary of the CQA monthly newsletter. When we started we knew it would be a "work in progress". Our hope is that this will become the primary communication tool for the CQA, as opposed to our regular emails. PLEASE give us feedback on what else you would like to see in the newsletters, or any recommendations on how they can be improved. 

In the last few months we witnessed the passing of three former CQA speakers who were giants in their respective fields. Please see the links below for more background on Sam Zell, Harry Markowitz and Daniel Ellsberg. Sam Zell was our keynote speaker at our very first conference in 1994. Harry was the featured speaker in our second Chicago meeting in 1995, and Daniel Ellsberg gave a presentation in Chicago in 2016.

At the Academic Review session on July 6th we selected the Academic Competition finalists for the September conference. Thanks to all of  the members who helped out in the selection process! We are in the process of confirming the availability of the speakers and they will be profiled in the August newsletter.

Chicago is always busy in September, so make sure to make your hotel reservations as soon as possible to avoid being shut out of the room block.

Dan Cardell
European Finance Association
Amsterdam, Netherlands - August 16-18
The EFA will hold their annual meeting in Amsterdam next month. In past years the CQA and NASDAQ have co-sponsored the Doctoral Colloquium at the EFA, where the winner was offered a speaking slot at the September CQA meeting. Going forward we have decided to open up the "CQA Prize" to any speaker at the conference. Several CQA members attend the event each year and we encourage you to check it out. With only 700 or so participants, it is much smaller than the ASSA meetings in the U.S., and the host cities are known for their excellent hospitality.

EFA 2023 Highlights:

To celebrate the 50th Annual Meeting, there will be two special events:

  1. Nobel Laureates Panel: Three Nobel laureates will be present at the EFA to discuss the next 50 years of research in financial economics.  
  2. Finance+Humor Program: This program features two rising-star stand-up comedians from California who both have strong academic backgrounds. There are two activities:
    1. “Using Humor To Communicate Finance Ideas” workshop (Wednesday, 4:30-6:15)
    2. “Finance Meets Comedy: A talk show" (Saturday, 1:30-3:30)
Keynote Speaker

The Editor of the Journal of Finance, Professor Antoinette Schoar (MIT),  will give the keynote speech on Friday afternoon.

Networking Events

Participants can catch up with one another and broaden their network during the social events in the evening.

  • On Wednesday, EFA 2023 opens with a Welcome Reception at the Vrije Universiteit Amsterdam.
  • On Thursday, there is a Get Together reception at the local modern-art museum (Stedelijk), where you will also have private access to a new  exhibition: MODERN — Van GoghRietveldLéger, and others.
  • On Friday, there is a Conference Dinner at the iconic Muziekgebouw.
Register Now!
Speaker Showcase

Dorian Abbot will be speaking at this year's September Conference. He is a distinguished scientist and mathematician known for his groundbreaking work in the field of climate and exoplanet research. Through the use of mathematics and computational models, he has made significant contributions to our understanding of climate dynamics, habitability, ice formations, and the study of exoplanets.

Dr. Abbot's research spans a wide range of topics, including the examination of ancient climates on Earth and the exploration of climates and potential life on planets beyond our solar system. His expertise lies in employing rigorous mathematical and computational techniques to analyze complex climate systems and to simulate planetary environments, shedding light on the factors that determine habitability and the potential existence of life on other worlds.

Abbot has received prestigious fellowships from institutions such as the Canadian Institute for Advanced Research, the University of Chicago, the National Science Foundation, and the U.S. Department of Defense. In 2021, he was honored as a Hero of Intellectual Freedom by the American Council of Trustees and Alumni.

CQA Fall 2023 Conference
Join us in Chicago September 20-21 for the CQA Fall 2023 Conference. The conference will be held on the 5th floor of the Gleacher Center in Downtown Chicago.

Registration is now open.
Register Now!
To get our rate of $289 per night at the Fairmont Chicago, please use the link below.
Reserve Hotel
Remembering Legends
In remembrance of three remarkable individuals, we pay tribute to the late Daniel Ellsberg, famous for the Pentagon Papers, Harry Markowitz, the Nobel laureate who revolutionized portfolio theory, and Sam Zell, the legendary investor and real estate tycoon. As former CQA speakers, their profound contributions have left an indelible mark on us, inspiring generations to strive for knowledge and excellence. May their legacies continue to guide and inspire.
Daniel Ellsberg
"The Ellsberg Urns and CQA"
CQA member Gib Bassett gives some personal insight into what Daniel Ellsberg was like.

"Daniel Ellsberg, Who Leaked the Pentagon Papers, Is Dead at 92"
Deeply disturbed by the accounting of American deceit in Vietnam, he approached The New York Times. The disclosures that followed rocked the nation.
Harry Markowitz
"Harry Markowitz, Nobel laureate, UC San Diego professor who revolutionized investing, dies at 95"
Harry Markowitz won the 1990 Nobel Prize in economics. Without his groundbreaking work, index funds and 401(k) investing as we know it wouldn’t exist.

"In Memory of Harry Markowitz"
PMR highlights Professor Markowitz's notable accomplishments, and invites members to revisit his significant works.

"A Tribute to Harry Markowitz: In Memoriam of a Finance Legend"
A tribute to Markowitz from IFA.
Sam Zell
"Remembering Sam Zell"
Wall Street Week remembers his legacy in real estate and energy investing.
Recommended Reads
"Back to the 1980s or Not? The Drivers of Inflation and Real Risks in Treasury Bonds"
In this study Carolin Pflueger provides insights on the relationship between nominal and real bond risks, shedding light on the informational content and impact of various factors on bond-stock betas.
Read / View Slides from AFA Inflation Panel
"Investing in Deflation, Inflation, and Stagflation Regimes"
This study analyzes asset class and factor premiums during different inflationary regimes, highlighting the benefits of moderate inflation, attractive real returns during deflation, and positive factor premiums during high inflation and stagflation.
"An Intuitive Guide to Relevance-Based Prediction"
A new data-driven forecasting approach that outperforms linear regression and machine learning, utilizing relevance, fit, and codependence as its core principles.
"Using GPT-4 for Financial Advice"
Text-based AI tool provides suitable financial advice by suggesting customized investment portfolios based on individual circumstances, showcasing competitive risk-adjusted performance and potential use as a back-office tool for financial advisors.
Upcoming Events
Inquire-Europe Autumn Seminar
Bergisch Gladbach, Germany - September 24-26
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