Tuesday, 19 May 2020

8:00–9:00 a.m.

Coffee with Exhibitors

8:00 a.m.–4:45 p.m.

Exhibit Hall Open

9:15–10:15 a.m.

Power and Prediction: The Disruptive Economics of Artificial Intelligence

Ajay Agrawal
​Geoffrey Taber Chair in Entrepreneurship and Innovation
Founder and Academic Director of the Creative Destruction Lab
Rotman School of Management, University of Toronto

  • Many applications of AI enhance productivity by improving upon existing predictive analytics—such as banking applications in fraud detection, anti-money laundering, know your customer, credit scoring, and sanction screening—but some uses have a more profound effect: They shift power and can change market structure.
  • When AI simply improves upon existing predictive analytics, power structures do not change, so the strategic implications are limited. In these cases, success depends primarily on well-managed implementation; the objective is enhanced operational efficiency.
  • Decisions concerning when, where, and how to deploy AI to improve upon existing predictive analytics require oversight from the COO but not the CEO. These AIs are tactical, not strategic.
  • Learn about the wide-ranging work of the Creative Destruction Lab—the largest seed-stage program for massively scalable science-based programs.

10:45–11:45 a.m.

Investing in Disruptive Innovation: The Big Ideas of 2020

Investing in Disruptive Innovation: The Big Ideas of 2020
Catherine D. Wood
CEO and Chief Investment Officer
ARK Investment Management LLC

  • Three criteria used to identify transformational innovation platforms
  • Are we witnessing signs of a recession or a deflationary boom?
  • Investing in disruptive innovation to take advantage of market inefficiencies
  • Big ideas: The technological breakthroughs investors shouldn’t miss in 2020

11:45 a.m.–1:45 p.m.

Networking Lunch

12:45–1:30 p.m.

Sponsored Corporate Presentations with Dessert

Sponsored Corporate Presentations offer a range of best practices, strategies, tools, tactics, and insights for successful investment management and financial analysis from senior-thought leaders at leading financial services firms.

Extended Sessions

Extended Sessions allow for a deeper exploration of investing topics relevant to investment professionals.

1:45–3:15 p.m.

Private Investments for Private Clients: A Practical Approach

Steve Balaban, CFA
Founder and Chief Investment Officer, Mink Capital Inc.
Award-Winning Lecturer, University of Waterloo

  • Understanding current trends in private markets and the role of private assets in a diversified portfolio
  • How managers and advisers can best access private markets on behalf of their clients
  • How to beat the “minimums game,” handle capital calls, and address other challenges of private investing

Specialty Focus Area: Wealth Management

1:45–3:15 p.m.

Value This, You Must! A Jedi Guide to Valuation

Aswath Damodaran
Kerschner Family Chair Professor of Finance​
Stern School of Business, New York University

  • Big picture perspective on lessons on valuations with a review of the basics of valuation and how to convert tools and models into valuations
  • Accounting is not finance—a look at the divide between an accounting mindset and a valuation mindset
  • Just because you have a D and a CF does not mean that you have a DCF: Intrinsic value is about asking and answering questions about businesses and making consistent assumptions.
  • Valuation is not modeling; valuation is more than modeling, it is better to be accurate than precise, and accuracy is relative.
  • Precise models are not always accurate models, and the payoff to valuation is not determined by how accurate your valuation is but how accurate it is, relative to other people valuing the same asset—a look through the IPO valuation of Twitter.
  • Price is not value: The value process and the pricing process are driven by different determinants and often yield different numbers for the same asset.
  • Valuation is a craft: You have to keep working at it to get better, and investing takes faith; you have to have faith in your value (with no confirmation) and faith that the price will adjust to the value (with no proof). Both faiths will be tested, and most of us will be found wanting.

Specialty Focus Area: Capital Markets

1:45–3:15 p.m.

Cultural Fluency: The Art of Connecting in Global Business

Jane Hyun
​​Founder and President, Hyun & Associates​
Global Leadership Strategist and Author

  • The globally connected workplace demands more agility in our ability to understand differences in motivations, values, and communication patterns.
  • Culture affects interpersonal dynamics, including styles of communication; how you relate to clients, colleagues, and team members; and our approach to critical business problems.
  • Without navigation tools, you may neglect culture issues, leading to disengagement, attrition, or delayed innovation.
  • Discover what it means to be a “fluent leader,” the skill of “flexing,” and how to understand the unwritten “code” for navigating differences and strengthening relationships with others.

Specialty Focus Area: Career Development

1:45–3:15 p.m.

#DeFi – The World of Decentralized Finance

Campbell R. Harvey
​Professor of Finance, Duke University
Partner and Senior Advisor, Research Affiliates, LLC

  • Leveraging decentralized networks to create new financial products without intermediaries
  • What the world looks like without traditional banks
  • Stablecoins and new barter systems

Specialty Focus Area: Tech

1:45–3:15 p.m.

Investing through Booms and Busts—An Unconventional Approach

Vikram Mansharamani
Lecturer
Harvard University

  • A discussion of the rising risks from growing nationalism, increasing protectionism, and unconventional monetary policies
  • An exploration of opportunities identified when navigating the cross-currents of global economic, financial, and political developments
  • A demonstration of how to apply an analytical framework to current conditions to forecast potential future outcomes, drawing on examples from art markets, architecture, and popular culture, as well as economics and politics

Specialty Focus Area: Investment Strategies

3:45–4:30 p.m.

Concurrent Sessions

Concurrent Sessions provide analysis and commentary on topics such as alternative investing, capital markets, tech developments, career skills, psychology and decision making, and sustainable investing.

3:45–4:30 p.m.

Marijuana in Markets: The Dos and Don’ts of Cannabis Investing

Steve Hawkins
President and CEO
Horizons ETFs Management (Canada) Inc.

  • From the world’s first listings to the US Safe Banking Act, how the investing history of cannabis has transformed
  • The do’s and don’ts and other lessons learned about cannabis investing, one year after Canada’s legalization
  • The globalization of cannabis: What worldwide legalization and acceptance could mean for tomorrow’s marijuana markets

Specialty Focus Area: Alternative Investing

3:45–4:30 p.m.

Active Fixed-Income Investing Late Cycle: Opportunity and Risk

Marc P. Seidner, CFA
​Chief Investment Officer of Nontraditional Strategies, Managing Director, and Head of Portfolio Management, New York​​
PIMCO

  • Adjusting portfolios and levels of risk taking to align with the current stage of the market cycle
  • The importance of valuation analysis and knowing whether risks are being adequately compensated for
  • Being prepared for the future: Stress testing for multiple states of market outcomes, considering alternative risk premiums, maintaining liquidity, and ensuring diversification
  • Fixed-income strategies to produce positive returns in a more uncertain environment—bottom-up security selection, focus on relative value, capitalizing on market disruption, and more

Specialty Focus Area: Capital Markets

3:45–4:30 p.m.

Seven Mistakes Every Investor Makes (and How to Avoid Them)

Joachim Klement, CFA
Independent Investment Strategist

  • Every investor makes mistakes, but some mistakes are common among professional investors and may sometimes even be considered best practice.
  • An overview of some common investment practices, and a look at the empirical evidence of how and why these practices lead to lower performance.
  • Gain tips and tools to remedy the negative effect of practices that can hurt your investment performance.

Specialty Focus Area: Capital Markets

3:45–4:30 p.m.

The Ultimate Success Formula: Leadership Presence and Emotional Intelligence

Christiane St-Amour
​Executive Coach and Leadership Development Specialist

  • What can leadership presence and emotional intelligence do for your career?
  • Emotional intelligence: The critical element to your success
  • What is leadership presence, and how can you build personal influence in your organization?

Specialty Focus Area: Career Development

4:30–4:45 p.m.

Transition Break

4:45–5:45 p.m.

Mastering the Market Cycle—Getting the Odds on Your Side

Howard S. Marks, CFA
Co-Chairman
Oaktree Capital Management

  • Looking for market patterns: Why do cycles occur?
  • What do bull markets have in common?
  • When are the odds or our side?
  • What does where we stand in the cycle imply about what’s coming next?