CFA Society of Jacksonville

2009 ANNUAL REPORT

OF THE

CFA SOCIETY

OF JACKSONVILLE

TABLE OF CONTENTS

Page
Report of the President / 1
Board of Directors / 2
Past Presidents / 3
Report of the Program Chair / 4
Report of the Treasurer / 5
Report of the Membership Director / 6
Report of the Education Director / 7
Report of the Job Placement Director / 8
Report of the Advocacy/Awareness Director / 9

CFA Society of Jacksonville

REPORT OF THE PRESIDENT

2008-2009

Dear Society Members,

As we wrap up another year, the CFA Society of Jacksonville continues to strive to deliver value to our members by fulfilling our mission of education and ethics. Promotion of “The Charter” through educational luncheons, employer outreach, university connectivity and utilizing all that the CFA Institute has to offer has never been greater.

We are please to announce that the CFA Institute and the six Societies in Florida have embarked on a new relationship to leverage the efforts of all. The Florida Collaborative Initiative has created an advisory board with representatives from each Florida Society, initially funded by the CFA Institute, to enhance the experience of all. Coordinating administrative activities, attracting top-notch speakers and leveraging resources in awareness activities are currently underway.

Here are the Florida Society Presidents celebrating the establishment of the FCI at the CFA Annual Conference, this year held in Orlando.

Next year we are planning to participate in the CFA Institute’s Global Investment Challenge, providing the opportunity of our local university students to become involved in the “CFA way” early in their careers. If you would like to help with this project, mentors, judges and volunteers will be needed.

Thank you for this opportunity to serve as President of your society this past year. With your continued support and the wonderful contributions of The Board and our employers 2009 – 2010 will be our best year ever.

David A. Furfine, CFA

President

CFA Society of Jacksonville

BOARD OF DIRECTORS

2008-2009

David A. Furfine, CFA / President
Joseph T. Janocko, CFA / Vice President
Fred Briggs, CFA / Treasurer & Secretary
Jeff Bernardo, CFA / Director- Job Placement
Carlos Herrero, CFA / Director- Education
Dale Hilken, CFA / Director- Public Awareness
Dimitri Kavalieros, CFA / Programs Director
June L. Lundy / Director-Career Development
Chris Rea, CFA / Director at Large

PAST PRESIDENTS

Allen C. Ewing 1963-1964
Anders F. Myhr 1964-1965
Allen C. Ewing 1965-1966
David K. MacCulley 1966-1967
Fontaine LeMaistre 1967-1968
Fontaine LeMaistre 1968-1969
Cyrus M. Norman 1969-1970
Jacqueline R. Lunsford, CFA 1969-1970
Thomas C. Duer 1970-1971
Charles M. Thompson 1971-1972
Jesse H. Webb Jr. 1972-1973
Thomas E. Weaver 1973-1974
J. Blaine Reeve Jr. 1974-1975
Roger E. King, CFA 1975-1976
Roger E. King, CFA 1976-1977
Marvin R. Edwards 1977-1978
Melvin V. Ridgway, CFA 1978-1979
Robert G. Jacobsen, CFA 1979-1980
Richard S. Birch III, CFA 1980-1981
Kathleen R. Manzella, CFA 1981-1982
Marshall F. Howell Jr. 1982-1983
Kenneth D. Menke 1983-1984
Clifford B. Baum 1984-1985
John Jay Burris 1985-1986
Pamela J. Rush, CFA 1986-1987
Marvin R. Edwards 1987-1988
Andrew M. Cantor, CFA 1987-1988
Robert Edward Christopher III, CFA 1988-1989
Andrew M. Cantor, CFA 1989-1990
Eugene A. Kelly, CFA 1992-1993
Susan B. Levine 1993-1994
Louis V. Walsh IV, CFA 1994-1995
Jacqueline R. Lunsford, CFA 1995-1996
Carl E. Waldrep, CFA 1996-1997
Andrew M. Cantor, CFA 1997-1998
Louis V. Walsh IV, CFA 1998-1999
J.R. Melikian, CFA 1999-2000
Timothy D. Cebulko, CFA 2000-2001
David Andrew Furfine, CFA 2001-2002
Daniel Doyce Payne, CFA 2002-2003
Julie Tilson, CFA 2003-2004
Eric P. Zarkovich, CFA 2004-2006
Joseph Janocko, CFA 2006-2008

REPORT OF THE PROGRAM CHAIR

2008-2009

CFA Society of Jacksonville completed another successful year for Programs. Along with the various luncheon programs, this year we also hosted a Holiday Mixer, our 3rd Annual Forecast dinner, and planned a CFA Day at the Ballpark Social.

Our Luncheon programs included a wide variety of speakers and topics, addressing many of the current concerns of our members. We used a variety of venues to create an enjoyable forum for our members to expand their knowledge base and meet other members of our financial community.

The 3rd Annual Forecast Dinner included a nationally recognized speaker panel and was widely attended by the membership. As always, the Board wishes to sincerely thank our dedicated sponsors, who purchased tables to help underwrite the event.

We are excited for the 2009-2010 year, and look forward to providing another interesting and relevant program year.

Program Summary

Date / Speaker / Firm / Topic
9/17/2008 / Top of Form
Paul Arendt
Bottom of Form / Top of Form
Barclays Global Investor Services / Top of Form
Institutional Exchange Traded Funds (ETFs)
10/22/2008 / Top of Form
Dean McQuiddy / Top of Form
Sawgrass Asset Management / Top of Form
Small Cap Stocks
12/2/2008 / Holiday Social
1/14/2009 / Top of Form
Jeffrey Smith / FedEx / Company Presentation
2/5/2009 / Forecast Dinner
3/11/2009 / Domenca Haas / Top of Form
Sanofi-Aventis / Company Presentation
Top of Form
4/2/2009 / Top of Form
Doug Gratz, CFA / Top of Form
Research Affiliates, LLC / Top of Form
Efficient Indexing in an Inefficient World
4/28/2009 / Mark Vitner / Wachovia / Economic Forecast
5/20/2009 / Top of Form
Tim Gaumer, CFA / Top of Form
StarMine / Top of Form
Applying earnings quality analysis
6/30/2009 / CFA Day at the Ballpark

REPORT OF THE TREASURER

2008-2009

Beginning Cash Balance: / $14,937
Fiscal Year 2007-2008 Items
CFAI Reimbursement: Awareness / $5,000
Luncheon / $894
Recognition / $169
Fiscal Year 2008-2009 Items
Annual Membership Dues Received in Prior Fiscal Year / $2,220
Beginning 2008-2009 Balance: / $8,780
Income:
Annual Membership Dues / $9,165
Revenue from Society Meetings and Events / $5,310
CFA Institute Reimbursements - Service Standards / $0
Total Income: / $14,475
Total Cash Available: / $23,255
Expenses:
Society Meetings & Events / $11,635
Administrative Expense & Misc. / $1,349
Society Awareness / $2,717
Society Leadership and Annual Conferences / $2,230
CFA Candidate Scholarships / $0
FloridaState Annual Registration / $70
Bank Fees / $20
Practice Exams - Net / -$27
Total Expense / $17,994
Forecast Ending Cash Balance: / $5,261
Fiscal Year End Receivables:
CFA Institute Reimbursements - Service Standards / $15,644
Net 2008/2009 Financial Position: / $20,905

Fred Briggs, CFA

Treasurer

REPORT OF THE MEMBERSHIP DIRECTOR

2008-2009

The Board is pleased to announce that the following individuals were approved as members of the CFA Society of Jacksonville during the 2008-2009 fiscal year:

NameType

BrianAtleeAffiliate

JohnBankoRegular

AlanHartleyRegular

AnthonyMarekRegular

Kerry McGovernAffiliate

JonathanNorfleetAffiliate

TerrySeierstadRegular

JonathanWallaceAffiliate

DarrenZinnAffiliate

The Society membership is currently at 129 members broken down by the following demographics:

Jeffrey E. Bernardo, CFA
Director, Membership

REPORT OF THE EDUCATION DIRECTOR

2008-2009

Exam Scholarships

Through the CFA Institute with a supplement from the CFA Society of Jacksonville we administered the CFA examination scholarships, which covered both the registration and examination fees. In addition to communicating the scholarship availability to all local candidates, we contacted several universities in the area. For the June 2009 exam, all 10 available scholarships were awarded to candidates in Jacksonville, Gainesville, and Tallahassee.

Text and Study Material

The CFA Institute makes available to each affiliate chapter a set of study materials for all three examination levels. This year, we donated out set to the Florida Agricultural and MechanicalUniversity, where a few local candidates are currently enrolled.

Practice Exams

The Boston Security Analyst Society, one of the largest local chapters, prepares practice exams that are available for distribution by other local chapters. These are designed to follow the question format, depth and time constraints of the CFA exams and are intended to be taken by candidates under simulated test conditions in a “real time” environment. The practice exams were made available to the CFA Society of Jacksonville, of which a total of 6 exams were purchased by local candidates.

Carlos E. Herrero, CFA

Director-Education Chair

REPORT OF THE JOB PLACEMENT DIRECTOR

2008-2009

REPORT OF THE ADVOCACY/AWARENESS DIRECTOR

2008-2009

1