TwitterFacebookLinkedInEmailRSS
logo

An editorial blog of CFA Society Minnesota

  • Home
  • About Us
  • Contact Us
    • Compensation Survey Contact Form
  • Subscribe to Blog via Email

Monthly Archives: March 2018

Changing Perceptions Interview with Joan Kampmeyer, CFA – Private Investor

9th March, 2018 · CFAMNEB · Leave a comment

Tell me a little about yourself 

I have a Bachelor’s degree in French from the University of Minnesota.  I went on to get my MBA from the Carlson School of Management at the University of Minnesota and earned my CFA Charter in 1986.

What sparked your interest in the investment industry and CFA Program?

I have always had an interest in business since graduate school. I started out in corporate treasury at a company called Jostens, which was a public company at that time. During my five years with the company, I became Assistant Treasurer with responsibilities that included oversight of external managers running the company’s pension fund. So, through that exposure, I met managers who had the CFA designation, and it intrigued me, though I didn’t really need it in my work at that time.  I thought the CFA was worth investigating, one thing led to another and three years later got my CFA Charter.  At that time, I worked for an investment banking unit that was part of what is now Wells Fargo. It really paid off when I moved to Ameriprise as a fixed income analyst where professionals were strongly encouraged to obtain a CFA.

Did you have a mentor who was instrumental in your career?

I never really had a mentor.  At that time there weren’t a lot of women in asset management; in fact, I can think of only one who was a senior portfolio manager. I think the critical element is not just having a mentor but also making sure you cultivate your network on a regular basis.  That way, when you are looking to make a change, you can tap your network.

The CFA Charter also helped me find a position in asset management.  I went to a CFA Society Minnesota monthly luncheon and sat next to a woman who worked at Ameriprise.  It was she who told me about a fixed income analyst opening.

What professional challenges have you experienced?

My challenge was how to stay in finance yet move my career in new directions. I went from working for a consumer-based company, Jostens, to working for a large banking institution, to working for an asset management firm, and finally a family office. Therefore, the challenge is how to navigate all the different choices out there without thinking of it as too much of a stretch.

What is the biggest risk you’ve taken in your career?

The biggest risk was to leave the corporate world and leap into investment banking.  The nature of work was completely different from what I had been doing at Jostens. In addition, it was a newly formed group with no track record and I was the only female professional.  Lastly, I took a small cut in salary but added bonus potential.

Do you have any advice for young professionals interested in a career similar to yours?

Follow your instincts and don’t be afraid to try new positions and industries. Every job is different, and there are a lot of opportunities in the world of finance and investments. You may have to take more of a zigzag path, but that can actually make it a lot more fun.

 

Student Interviewer

Francine Umumarungu is from Kigali, Rwanda, and a senior at Gustavus Adolphus College majoring in Financial Economics. Her plans after graduation are to take the CFA Level One Exam in December and apply for a job in the finance or investment field to gain work experience before embarking on the rest of the CFA Program.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
Posted in Local Charterholders | Tags: CFA Charter, CFA Society Minnesota, Changing Perceptions, female professional, finance and investments, investment banking, women in asset management |

Volunteerism is Currency that Appreciates

5th March, 2018 · Craig Popp, CFA
Craig Popp, CFA

People choose to volunteer for a variety of reasons. Some want to give back to their community or support a cause they’re passionate about. Others see it as a way to develop a new skill or build real-world experience. Volunteering is an excellent way to boost your career prospects. But for many, it’s because someone asked them.

Don’t believe me? I’ll offer you proof. According to PTO Today, the number one reason people say they don’t volunteer is because no one asked them. It’s worth noting the asking part requires a personal approach. I am the example. My participation on the CFA Society Minnesota (CFAMN) Membership Committee began with an email from your Society Vice President, Chris May, CFA.

Hey Craig,

I hope that you are doing well. I wanted to follow up on something that we talked about a while back – CFAMN participation. Would you still be open to being a little more involved if it could work with your schedule? I lead the Membership Committee which is responsible for a few things, but in reality our main function is to ‘add value to CFAMN members.’ We have plenty of freedom to execute that……..

We lost a committee member due to relocation, but were lucky enough to gain a new member quickly. However, I would like to have one or two more individuals and I thought of you……

In the past, I made false promises to myself about getting involved. First it was “After I pass Level III.” Then “I have to finish grad school.” I easily could have said no to Chris with a valid excuse—given that I live 100 miles west of Minneapolis. You can surmise that I said yes.

The experience has been fulfilling. Witnessing engagement ideas develop is one of the highlights for me. Do you like seeing the Membership Milestones on the monthly email from CFAMN? That was a Membership Committee idea. Personally, I suggested an individual who participated in the Industry Roundtable event held last fall. I was proud to make a contribution to that great event.

Being an outstate volunteer isn’t as difficult as I thought it would be. The committee meets four to six times per year. I have attended half the meetings in-person and the other half via teleconference. When I attend in-person, I typically spend the day in the metro area conducting client meetings or catching up with colleagues. The committee also tries to schedule our meetings to coincide with other society events such as the Society Social or luncheons.

I’ve learned that involvement is a great way to meet people, and I’ve been able to develop relationships with other committee members. Attending society events is also more enjoyable—predominately because I know more people. Have you ever attended a Society Social and felt awkward that you didn’t know anyone? These events are littered with Society volunteers.

Volunteering is good for you—for your health, your career, your self-esteem and enhances your Curriculum Vitae. I’ll simply conclude by following the lead of Chris May and ask you to get involved with CFAMN. Many of your society committees are looking for help. If that’s not for you, CFAMN is always looking for volunteers to help with things such as the mentoring program, CFA Institute Research Challenge, or simply to have coffee with someone who wants to learn more about the CFA Program.

 

Bio/Disclosures

Craig Popp, CFA is a Financial Advisor with Raymond James Financial Services, Inc. Member FINRA/SIPC located at 115 Litchfield Ave SE, Willmar, MN. Craig Popp can be contacted at 320-235-1416 or craig.popp@raymondjames.com. Any opinions are those of Craig Popp and not necessarily those of RJFS or Raymond James. Expressions of opinion areas of this date and are subject to change without notice. Investment Advisory services offered through Raymond James Financial Services Advisors, Inc. Raymond James is not affiliated with CFA Society Minnesota.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
Posted in Hot Topic Commentary | Tags: CFA Institute Research Challenge, CFA Program, CFA Society Minnesota, Committees, luncheon, Membership Committee, mentoring program, outstate volunteer, Society Social, Volunteer |

CFA Institute Research Challenge: Upper Midwest Finals

2nd March, 2018 · Craig Popp, CFA
Craig Popp, CFA

On February 15, 2018, CFA Society Minnesota hosted a local finals for the CFA Institute Research Challenge at the Thrivent Auditorium in downtown Minneapolis.

If you’re not familiar with the Research Challenge, below is a bit of information courtesy of CFA Institute. Complete details can be found on the CFA Institute site.

The CFA Institute Research Challenge is a global competition that tests the equity research and valuation, investment report writing, and presentation skills of university students. The first Research Challenge competition was hosted by the New York Society of Security Analysts in 2002 and involved just five teams from the New York area. Since then, the competition has grown to involve thousands of students from over 1,000 universities in more than 75 countries.

Prior to the local finals round, 13 university teams submitted written reports as part of our society’s local competition. Those reports were graded by CFA Society Minnesota volunteers based upon the following criteria:

  • Business Description
  • Industry Overview & Competitive Positioning
  • Investment Summary
  • Valuation
  • Financial Analysis
  • Investment Risks
  • Corporate Governance

Out of the papers submitted, five were selected to advance to the local finals. This year’s finalists were Bethel University, University of Minnesota (undergrad), Gustavus Adolphus (team #2), North Dakota State University, and University of Minnesota Duluth. Each team had ten minutes to present their analysis which was followed by ten minutes of question and answer from the judges. Volunteer judges scored the presentation according to the following criteria:

  • Financial Analysis: How thorough was their analysis of the industry, company, and competitors?
  • Valuation: Were the valuation methodologies appropriate and detailed?
  • Presentation: How effective/convincing was their presentation? Was it logical and did the facts support the recommendation?
  • Question & Answer: Were they able to answer the questions effectively and with confidence?
  • Team Involvement: Team involvement in the presentation/questions and answers.
  • Materials: Quality of slides.

Congratulations to University of Minnesota Duluth on their win. They will move onto the Americas Regional competition being held in Boston March 19-20.

This was my first time attending a Research Challenge event. I did so mostly out of curiosity, but was also on a scouting mission as I’ve contemplated volunteering to support this event. Below are a few of my observations.

A Strong Competition

While UMD won, two teams tied for second place. Without the benefit the seeing the final scores, I’m guessing the top three were close. “Keeping score” on my own, I thought two teams were relatively equal. Forced to choose, I would have given the nod to the eventual winner.

Presentation Skills Matter

An area where the UMD students separated themselves was their presentation delivery.

Their stage presence was noticeable—speaking with powerful voices and working the stage. This team conveyed the highest confidence of their analysis. That was particularly apparent during the Q&A when one judge asked about the team’s opinion of company management (a question given to all teams). All teams gave a formidable answer. However, most began with the phrase “We think” or “We believe.” UMD provided the following answer: “They are the perfect management team to run this company, because….”

One might consider this a bit of gamesmanship, or maybe my observation is splitting hairs. With that said, when the difference between competitors is small, it’s the little things that make the difference.

This is your Competition

I’m stealing this line from Patrick O’Shaughnessy’s Invest Like the Best podcast. Each judge noted how much farther ahead these students are compared to when they themselves were undergraduate students. I would echo that comment. Experienced professionals might not be running scared. However, if you are a graduating college student and these individuals are your competition, you should be worried.

Duluth Dynasty

UMD has won the Upper Midwest Finals three of the past four years (2018, 2017, & 2015). If this were football, the term dynasty might get used. Their success seems to have created a sense of pride among alumni as they had a large following from the audience.

If you would like another perspective about the Research Challenge, I would suggest reading Tom Brakke’s Freezing Assets post. He was a judge for the 2017 Americas finals and offers a great synopsis of the experience—and some advice for future competitors. If you would like to get involved with the Research Challenge, there are multiple volunteer opportunities as your society needs help in the form of industry mentors, report graders, and presentation judges.

 

Bio/Disclosures

Craig Popp, CFA is a Financial Advisor with Raymond James Financial Services, Inc. Member FINRA/SIPC located at 115 Litchfield Ave SE, Willmar, MN. Craig Popp can be contacted at 320-235-1416 or craig.popp@raymondjames.com. Any opinions are those of Craig Popp and not necessarily those of RJFS or Raymond James. Expressions of opinion areas of this date and are subject to change without notice. Investment Advisory services offered through Raymond James Financial Services Advisors, Inc. Raymond James is not affiliated with CFA Society Minnesota.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
Posted in Hot Topic Commentary | Tags: Americas Regional competition, CFA Institute Research Challenge, CFA Society Minnesota, equity research and valuation, global competition, investment report writing, University of Minnesota Duluth, university students, Upper Midwest Finals, Volunteers |
Previous Posts

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

  • Important Minnesota Financial Literacy Legislation Update 03/20/2023
  • New Financial Literacy Effort Launched for Minnesota Communities and Schools 09/30/2022
  • End of an Era 07/26/2022
  • Starting my Midwestern Goodbye 04/05/2022
  • Face-Off 10/18/2021

Submit your inquiry here

Categories

  • Compliance (3)
  • Department of Labor Fiduciary Rule (1)
  • Ethics (7)
    • Ask the Ethicist (2)
  • Freezing Assets Shout Out (34)
  • Hot Topic Commentary (177)
  • Intellisight (1)
  • Local Charterholders (88)
  • Member Spotlight (4)
  • Society President Letters (15)
  • Spotlight on MN Companies (1)
  • Valuation (2)
  • Weekly Credit Wrap (35)

Archives

  • March 2023 (1)
  • September 2022 (1)
  • July 2022 (1)
  • April 2022 (1)
  • October 2021 (1)
  • August 2021 (1)
  • May 2021 (1)
  • February 2021 (1)
  • January 2021 (2)
  • October 2020 (2)
  • September 2020 (2)
  • August 2020 (1)
  • June 2020 (1)
  • February 2020 (1)
  • December 2019 (1)
  • November 2019 (2)
  • October 2019 (1)
  • September 2019 (1)
  • August 2019 (1)
  • July 2019 (2)
  • June 2019 (1)
  • April 2019 (3)
  • March 2019 (2)
  • February 2019 (1)
  • January 2019 (2)
  • December 2018 (1)
  • November 2018 (2)
  • October 2018 (3)
  • September 2018 (1)
  • April 2018 (3)
  • March 2018 (8)
  • February 2018 (3)
  • January 2018 (1)
  • November 2017 (5)
  • September 2017 (1)
  • August 2017 (3)
  • July 2017 (1)
  • June 2017 (1)
  • May 2017 (1)
  • April 2017 (2)
  • March 2017 (1)
  • December 2016 (2)
  • November 2016 (2)
  • October 2016 (1)
  • September 2016 (1)
  • August 2016 (1)
  • July 2016 (2)
  • June 2016 (5)
  • May 2016 (2)
  • April 2016 (2)
  • February 2016 (5)
  • January 2016 (3)
  • December 2015 (1)
  • November 2015 (4)
  • October 2015 (6)
  • September 2015 (1)
  • July 2015 (1)
  • June 2015 (6)
  • April 2015 (2)
  • March 2015 (4)
  • February 2015 (2)
  • December 2014 (2)
  • November 2014 (7)
  • October 2014 (10)
  • September 2014 (3)
  • August 2014 (5)
  • July 2014 (2)
  • June 2014 (5)
  • May 2014 (9)
  • April 2014 (9)
  • March 2014 (8)
  • February 2014 (7)
  • January 2014 (8)
  • December 2013 (6)
  • November 2013 (7)
  • October 2013 (13)
  • September 2013 (4)
  • August 2013 (2)

Popular Tags

#memberspotlight 2015 Compensation Survey A Day in the Life BlackRock Board of Directors Carlson School of Management CFA CFA Charter CFA Charterholder CFA Charterholders CFA Institute CFA Institute Research Challenge CFA Minnesota CFAMN CFA Program CFA Society Minnesota CFA Society MN Changing Perceptions Chartered Financial Analyst charterholders Compensation Survey Diversity ESG ethics freezing assets shout out interest rates investment management Josh Howard Joshua M. Howard Member Engagement Minnesota non-GAAP earnings North Dakota Nuveen Asset Management President's Letter SEC Society President South Dakota Susanna Gibbons University of Minnesota Volunteer Volunteering Volunteers Weekly Credit Wrap women in finance
© 2021 CFAMN Freezing Assets - Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFAMN, FreezingAssets.org or CFA Institute.
  • Home
  • Log In
  • RSS Feed