Monday 25 November 2019

08:45-08:50

Chair’s Opening Comments

Paul Gordon, Team Leader, Western European Central Banks, Bloomberg News

08:50-08:55

Welcome Remarks from CFA Society Spain

Enrique Marazuela, CFA, President CFA Society Spain

08:55-09:10

Welcome Remarks

09:10–10:00

Venture Capital Opportunities in Europe

Bernardo Hernandez, Venture Partner, e.Ventures; CEO, President, Verse Inc

  • Identifying and evaluating startups in Europe
  • Who is investing and what kind of returns do they achieve?
  • The role of venture capital firms in the European technology startup ecosystem

10:00-10:50

Modern Monetary Theory’s Take on Fiscal Policy

Stephanie Kelton, Professor of Economics and Public Policy, Stony Brook University

  • Challenging established economic theories
  • New ways of thinking about solutions to policy problems
  • Modern Monetary Theory in European politics

10:50-11:20

Break

11:20-12:10

Workshop Streams

These sessions will run concurrently on Monday from 11:20 to 12:10 and will repeat from 12:20 to 13:10.

11:20-12:10

Stream 1: The Quantum Computing Revolution in Capital Markets

Mark Jackson, Scientific Lead of Business Development, Cambridge Quantum Computing

  • Opportunities and threats in quantum computing encryption and security
  • The new frontiers of pattern discovery made possible with quantum technology
  • Potential paths for development and applications

11:20-12:10

Stream 2: Gender Diversity as a Driver of Returns

Anne Tolmunen, CFA, Lead Portfolio Manager on the AXA WF Women Empowerment Fund, AXA Investment Managers

  • The case for investing in companies with greater gender diversity
  • Incorporating non-traditional criteria into investment decisions
  • How can investors drive change?

11:20-12:10

Stream 3: Valuation: Common Sense and Common Errors

Pablo Fernandez, Professor of Finance, IESE Business School

  • A closer look at assumptions in valuation models; discerning between facts, opinions and theories
  • Problems with calculated betas
  • How can common errors be corrected?

11:20-12:10

Stream 4: Two Divergent Stories on Investing in Latin America

Speaker: Santiago Fernández Valbuena: Partner, Investtech, Deputy Chairman, EBN Banco

Moderator: Alicia Rubi, CFA, COO, Findango Finance

  • Geopolitics and economics in the region
  • What sets private equity opportunities apart in Latin America?
  • Why is Brazil different?

12:10–12:20

Transition Break

13:10–14:10

Lunch

14:10–15:00

Workshop Streams

These sessions will run concurrently on Monday from 14:10 to 15:00 and will repeat from 15:10 to 16:00.

14:10–15:00

Stream 1: Alternative Solutions to ESG Data Challenges

Julia Meigh, Senior Analyst, Neudata

  • An overview of most common ESG data issues
  • Generating a more objective ESG risk signal
  • Using alternative data to measure ESG intangibles

14:10–15:00

Stream 2: The Problem with Liquid Markets

Rishi Ganti, CFA, Partner, Orthogon Investments

  • How do markets work to eliminate alpha?
  • Returns in traded vs. non-traded assets
  • Moving beyond zero-sum investment games

14:10–15:00

Stream 3: Developing the Mind of a Leader in a Disrupted Environment

Sylvia Sonnendrucker, CFA, Managing Partner at Millennial Quest

  • Why is it important to train the mind?
  • Simple ways to improve decision-making
  • Applications for the corporate environment

14:10–15:00

Stream 4: The Economic Fallout from the US-China Confrontation

Diana Choyleva, Chief Economist, Enodo Economics

  • Tectonic shifts in US-China relations
  • Understanding what’s at stake
  • Quantifying the economic and political costs of the trade war

15:00-15:10

Transition Break

16:00-16:30

Break

16:30-17:20

The Journey from an Activist Investor to a Wanted Man in Russia

Bill Browder, CEO, Hermitage Capital; Head, Global Magnitsky Justice Campaign; Author of Red Notice

  • The rewards and costs of activist investing in emerging markets
  • Russian influence on global politics and the effects of the Magnitsky Act
  • Uncovering money laundering schemes around the world

 

Tuesday 26 November 2019

09:00–09:05

Chair’s Comments

Paul Gordon, Team Leader, Western European Central Banks, Bloomberg News

09:05-09:55

The State of Europe

Yanis Varoufakis, Former Minister of Finance of Greece

  • How are globalization, wealth inequality, and populism impacting Europe’s political and economic future?
  • The most pressing economic risks for the Eurozone
  • Technological innovations changing the global economy

09:55-10:05

Break

10:05-10:55

Workshop Streams

These sessions will run concurrently on Tuesday from 10:05 to 10:55 and will repeat from 11:25 to 12:15

10:05-10:55

Stream 1: Distributed Ledger Technology in Mutual Fund Trades

Kate Webber, Managing Director, Head of Product Development, Calastone

  • Understanding the hype behind distributed ledger technology
  • How is distributed ledger technology transforming the asset management industry?
  • Lessons from Calastone’s migration of clients to distributed ledger technology

10:05-10:55

Stream 3: Using Financial Engineering to Alleviate the Pension Crisis

Lionel Martellini, Director, EDHEC-Risk Institute, Professor of Finance, EDHEC Business School

  • The looming pension crisis
  • An overview of currently available retirement products
  • Flexicure retirement solutions

10:05-10:55

Stream 4: Debunking the Nudge Program

Magda Osman, Reader of Experimental Psychology, Queen Mary University of London.

  • How new are nudges?
  • Analyzing the quality of evidence supporting nudge programs
  • The influence of nudges on policy and other practical implications

10:55-11:25

Break

12:15-12:25

Transition Break

12:25-13:05

Factfulness: Using Statistics and Facts to Challenge Misconceptions

Olof Gränström, Political Scientist and Economist, Novus

  • Facts vs. instincts
  • Applying slow thinking to understand the world and to avoid being guided by fast thinking
  • An assessment of global development and projections on where it’s heading

13:05–13:10

Closing remarks

Gary Baker, CFA, Managing Director of Europe, the Middle East, and Africa (EMEA), CFA Institute

 

 

13:10–14:00

Lunch