Defending First Amendment Freedoms – Part 3

Defending First Amendment Freedoms, Part 3

Gretchen Morgenson delivered the keynote address, titled “Why Financial Literacy Depends on Press Freedom,” at Financial Markets and the Economy – Financial Literacy Day III, the annual major conference that Cumberland sponsors at the University of South Florida Sarasota-Manatee (USFSM).

Morgenson is Senior Special Writer in the Investigations Unit at the Wall Street Journal. She is a Pulitzer Prize-winning journalist notable as the longtime writer of the Fair Game column for the New York Times. In November 2017 she moved from the Times to the Journal.

Following the conference, she signed copies of her book Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon at an event that benefited the Committee to Protect Journalists, an independent, nonprofit organization that promotes press freedom worldwide. The CPJ “defend[s] the right of journalists to report the news without fear of reprisal. around the world.” Learn more about the CPJ here: https://cpj.org/about/.

Here is a YouTube of Morgenson’s keynote: https://www.youtube.com/watch?v=SoFDUbQdsBo.

She then engaged with the audience in a Q&A session. Here is a YouTube: https://www.youtube.com/watch?v=bGNxZcSV3Ss.

Financial Literacy Day III was open to the public, and the auditorium was packed. Registration cost was just 50 bucks, which included lunch. Our partners for the event were USFSM, the Global Interdependence Center (GIC), and the Financial Planning Association of Florida (FPA).

We are proud supporters of all three partner organizations and were pleased to bring this high quality dialogue to the greater Florida Westcoast region and to the rest of the world via the event livestream. From our email flow we see that viewers responded from five of the seven continents – we are not sure about the Antipodean realm or Antarctica.

Part one of our Defending First Amendment Freedoms is here: https://www.cumber.com/cumberland-advisors-market-commentary-defending-first-amendment-freedoms/. Part two is here: https://www.cumber.com/cumberland-advisors-market-commentary-defending-first-amendment-freedoms-part-2/. For future GIC program plans see https://www.interdependence.org/events/.

We hope you found the conference and the First Amendment series worthwhile.

David R. Kotok
Chairman and Chief Investment Officer
Email | Bio


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

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Judith Monroe, MD of CDC Foundation, to speak during the “Health, Hunger, and Philanthropy” Panel

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Judith Monroe, MD - President & CEO CDC Foundation

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the Session II panel, “Health, Hunger, and Philanthropy” bringing together Judith Monroe MD, President and CEO, CDC Foundation, Erin McLeod, CEO, Friendship Centers, Sarasota, Lisa Marsh Ryerson, President, AARP Foundation, and Gabriel Hament of Cumberland Advisors. The moderator will be Lisa Shaw, CFP, CIMA, managing partner, Cygnus Asset Management, LLC.

The CDC Foundation Judith Monroe leads has a mission to help the Centers for Disease Control and Prevention (CDC) do more, faster by forging effective partnerships between CDC and philanthropic and private sector organizations and individuals to build public health programs that make our world healthier and safer. The Foundation has over 300 active programs across the U.S. and 85 countries.

Prior to joining the CDC Foundation, Monroe worked for six years as a CDC deputy director and served as director of the Office for State, Tribal, Local and Territorial Support (OSTLTS). At CDC, Monroe oversaw key activities and technical assistance supporting the nation’s health departments and the public health system.

Feel free to ask questions of our panelists and connect with Dr. Monroe during “Financial Markets and the Economy.” Watch this video from the summer of 2018 where she talks with David Kotok about The CDC Foundation and the Zika virus.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Defending First Amendment Freedoms – Part 2

Dear Readers,

I got praise and punishment on “Defending First Amendment Freedoms” part 1. As expected, the deep and intense political division in our nation showed itself again. And there was the usual “blowback” about my writing about something more than just market analysis. For those critics who are money-only focused, I’ll start this piece with a prefatory comment that applies directly to your wallet.
Cumberland Advisors Market Commentary by David Kotok
Just think for a minute. Without an unrestricted free press, would you be able to read Gretchen Morgenson’s story on insurance regulation in the WSJ? (“A State Investigator, the Financial-Adviser ‘Heir’ and an Elderly Client: How Lines Get Blurred in Insurance Regulation,” April 6, 2019: https://www.wsj.com/articles/a-state-investigator-the-financial-adviser-heir-and-an-elderly-client-how-lines-get-blurred-in-insurance-regulation-11554548401) Or could you find Heather Long’s reporting in the WAPO on Steve Moore? (“Trump’s Fed nominee Stephen Moore was found in contempt of court for failing to pay ex-wife more than $333,000,” April 5, 2019: https://www.washingtonpost.com/business/2019/04/06/trumps-fed-nominee-stephen-moore-was-found-contempt-court-failing-pay-ex-wife-more-than/?utm_term=.14176d11ed50)

The free press tells investors about a large aircraft maker in trouble or about a huge bank misbehaving or about an auto manufacturer’s misdeeds. First Amendment rights are the most basic underpinning of American life, our economy, and our financial markets.

Now let’s get started on free speech.


Defending First Amendment Freedoms

Part 2: Freedom of Speech

First Amendment rights are a big part of what has made America great; and yet, tragically, for most of their history the US government and the states have systematically and legally denied the fundamental rights of many of our citizens. Early American governance was white, land owning and male. Indeed, until the 14th Amendment was passed in 1868, African Americans were not even recognized as citizens; and citizenship was not extended to Native Americans until 1924. Remember that women’s suffrage was ratified as the 19th amendment in 1920, and we will celebrate its 100th anniversary next year in conjunction with the presidential election.

The yawning gulf between America’s aspirations as the Land of the Free and its political realities, especially with respect to race and religion, was so obvious that when, in 1935, the German National Socialist Party sought to codify the Third Reich’s race-based legal philosophy, it dispatched a team of 45 lawyers to the US, to gain “special insight into the workings of American legal and economic life through study and lectures.” The delegation was warmly received at a reception organized by the New York City Bar Association.

This disgraceful episode in our history is detailed in a November 2017 article in The Atlantic, entitled “What America Taught the Nazis,” by Ira Katznelson, a professor of political science and history at Columbia University. Katznelson focuses on the work of James Q. Whitman, Ford Foundation Professor of Comparative and Foreign Law at Yale Law School and author of the book Hitler’s American Model. Katznelson writes:

“Every day brings fresh reminders that liberal and illiberal democracy can entwine uncomfortably, a timely context for James Q. Whitman’s Hitler’s American Model, which examines how the Third Reich found sustenance for its race-based initiatives in American law.”

Let’s recall that even as the Nazis were relocating and then exterminating vast numbers of Jews and other ethnic and socially marginal populations in Europe, the US, under the guise of President Roosevelt’s Executive Order 9066, was stripping tens of thousands of American citizens of Japanese ancestry of their property and forcing them to relocate to internment camps (even as many of these loyal citizens enlisted in the US armed forces and went on to fight bravely against the Axis powers). Tom C. Clark, retired Associate Justice of the US Supreme Court wrote:

“The truth is – as this deplorable experience proves – that constitutions and laws are not sufficient; they must be given life through implementation and strict enforcement. Despite the unequivocal language of the Constitution of the United States that the writ of habeas corpus shall not be suspended, and despite the Fifth Amendment’s command that no person shall be deprived of life, liberty or property without due process of laws, both of these constitutional safeguards were denied under Executive Order 9066.”

And not just in shaky legal underpinnings has the US failed its citizens and given comfort and support to the forces of racial, political, and economic oppression; we have done so in the public arena as well. For instance, on February 20, 1939, 20,000 people filled Madison Square Garden to celebrate the rise of Nazism. This largely forgotten event is recounted in a documentary film titled A Night at The Garden, directed by Marshall Curry and produced by Laura Poitras and Charlotte Cook. The seven-minute film, which consists entirely of archival footage of the event, premiered at Sundance in 2018 and was nominated for the Academy Award for Best Documentary Short. The film can be viewed here: https://vimeo.com/237489146. See also https://rarehistoricalphotos.com/american-nazi-organization-rally-madison-square-garden-1939/.

At this gathering, Nazi Fritz Kuhn, a German-born, naturalized American citizen, calls for America, assuredly a nation of immigrants, to be controlled by only a subset of the myriad citizens who built and defended the country:

“Ladies and gentlemen, fellow Americans, American patriots, I am sure I do not come before you tonight as a complete stranger. You all have heard of me through the Jewish-controlled press as a creature with horns, a cloven hoof, and a long tail. We, with American ideals, demand that our government shall be returned to the American people who founded it. If you ask what we are actively fighting for under our charter, first, a socially just, white, Gentile-ruled United States. Second, Gentile-controlled labor unions, free from Jewish, Moscow-directed domination.”

There is something quite familiar today about this language of exclusion, this valorizing of one group paired with the systematic disparaging of others, including those who raise their voices to object. Do take the time to watch this short film. Then ponder this question: if American Nazis were to pack Madison Square Garden for a rally today, would their First Amendment right to free speech be protected? An article on History.com explains,

“The U.S. Supreme Court often has struggled to determine what types of speech is protected. Legally, material labeled as obscene has historically been excluded from First Amendment protection, for example, but deciding what qualifies as obscene has been problematic. Speech provoking actions that would harm others – true incitement and/or threats – is also not protected, but again determining what words have qualified as true incitement has been decided on a case-by-case basis.” (Source: https://www.history.com/topics/united-states-constitution/first-amendment#section_3)

We may get a sense of the current limits to free speech by examining the Unite the Right rally that was held in Charlottesville, VA, from August 11 to 12, 2017. According to Wikipedia (see https://en.wikipedia.org/wiki/Unite_the_Right_rally),

“Protesters were members of the far-right and included self-identified members of the alt-right, neo-Confederates, neo-fascists, white nationalists, neo-Nazis, Klansmen, and various militias. The marchers chanted racist and anti-semitic slogans, carried semi-automatic rifles, Nazi and neo-Nazi symbols (such as the swastika, Odal rune, Black Sun, and Iron Cross), the Valknut, Confederate battle flags, Deus Vult crosses, flags and other symbols of various past and present anti-Muslim and anti-Semitic groups.”

The march was allowed to proceed; but on the morning of August 12, Virginia governor Terry McAuliffe declared a state of emergency, stating that public safety could not be safeguarded. Then, within an hour, the Virginia State Police declared the rally to be an unlawful assembly. By then, however, the event had turned violent after protesters clashed with counter-protesters, leaving more than 30 injured. And a couple hours later, at around 1:45 PM, self-identified white supremacist James Alex Fields, Jr., deliberately drove his car into a crowd of counter-protesters about half a mile away from the rally site, killing one person and injuring nearly 40 others. Readers are invited to read the rest of the documentation of this recent history for themselves. There is much political debate from all sides about Charlottesville.

Fast forward, and on March 22, 2019, President Trump issued an executive order requiring colleges to certify that their policies support free speech as a condition of receiving federal research grants. The president had promised earlier in the month in an address to the Conservative Political Action Conference (CPAC) that he would do something about what he called a political climate on liberal college campuses that discourages discourse. His executive order makes research funding conditional on “compliance with the First Amendment” and directs federal agencies to ensure that institutions receiving federal research or education grants “promote free inquiry.” (Source: https://www.npr.org/2019/03/22/705739383/trump-and-universities-in-fight-over-free-speech-federal-research-funding)

Political posturing aside, we agree with President Trump’s use of the words “compliance with the First Amendment.”

It takes freedom of speech to defend the First Amendment and articulate why you are doing so. This essay is an example. And it takes freedom of the press to investigate and report. It takes a citizenry willing to think about issues and engage in civil debate for a democracy to succeed. If we, the public, are lazy or distracted, we end up with the government we deserve. History says we won’t like the government we get if most of us are passive about it.

I personally defend the rights of writers and media personalities, even when I disagree with them. I use their work in my time-consuming effort to sort out facts from opinions. At Cumberland, we constantly review all media in our daily effort to comprehend finance and economics. In the opinion category, we watch the pro-Republican Fox trio of Carlson, Hannity, and Ingraham and the pro-Democrat CNN trifecta of Cooper, Cuomo, and Lemon. We see or hear Maddow and Limbaugh. We can list many others. Watching or hearing or reading all of them is to get a more holistic view of the divided America we have become.

Only a vigorous defense of the US Constitution, and the First Amendment in particular, stands between our repeating history and suffering further tragic outcomes. That is why freedom of speech and of the press are so important. George Santayana’s famous dictum applies: “Those who cannot remember the past are condemned to repeat it.”

On April 11, 2019, Pulitzer Prize winning journalist, Gretchen Morgenson, is the keynote speaker at Cumberland Advisors’ “Financial Markets and the Economy – Financial Literacy Day III” event in Sarasota, Fla. Gretchen champions the free press; it’s not a left-right issue. Pertaining to her Fannie Mae investigative reporting, she cited the secrecy at the Obama White House as yet another sign of a pattern that Margaret Sullivan (public editor at The New York Times) identified as the administration’s “unprecedented secrecy and attacks on a free press.”
FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Keynote Gretchen Morgenson (Book - Reckless Endangerment)
We encourage you to join us April 11th at the Selby Auditorium of the University of South Florida Sarasota-Manatee and hear Gretchen Morgenson’s accounts of exercising our cherished First Amendment to uncover truth at the highest levels of government and business. Details below.


Update (04/12/2019): Gretchen Morgenson’s keynote address and Q&A session from the conference are posted here. Enjoy!

Gretchen Morgenson’s Keynote Address

Gretchen Morgenson’s Q&A with audience


Cumberland Advisors’ “Financial Markets and the Economy – Financial Literacy Day III” event, was held April 11, 2019, at the Selby Auditorium of the University of South Florida Sarasota-Manatee.

The focus was “Financial Markets and the Economy”, featuring:

Panels-
•    The Stock Market
•    Health Hunger and Philanthropy
•    How the World Looks to Me – A Global Economic Outlook

Special Presentations-
•    A Conversation with Susan Harper, Canada’s Consul Gen in Fla, on Trade/World Affairs
•    Keynote by Gretchen Morgenson, Senior Special Writer in the Investigations Unit at The Wall Street Journal and Former Business and Financial Editor for the New York Times.

We welcome and encourage the participation of our friends, colleagues, and clients.

Learn more: https://www.cumber.com/financial-literacy-day/


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

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Gabriel Hament of Cumberland Advisors, to speak during the “Health, Hunger, and Philanthropy” Panel

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Gabriel Hament, Charitable & Foundation Accounts

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the Session II panel, “Health, Hunger, and Philanthropy” bringing together Judith Monroe, President and CEO, CDC Foundation, Erin McLeod, CEO, Friendship Centers, Sarasota, Lisa Marsh Ryerson, President, AARP Foundation, and Gabriel Hament of Cumberland Advisors. The moderator will be Lisa Shaw, CFP, CIMA, managing partner, Cygnus Asset Management, LLC.

Gabriel Hament is an Investment Advisor Representative who handles individual investment portfolios and charitable and foundation accounts for Cumberland Advisors. Gabriel works closely with the management teams and boards of directors of nonprofit institutions to design investment allocations in alignment with organizations’ mission and unique objectives.

Gabriel is a graduate of the Connect Florida Institute of Leadership Florida and was previously a political consultant in the Sarasota region, where he supervised and coordinated campaign messaging, fundraising, and field outreach programs. He is a member of the Programming Committee of the Sarasota Tiger Bay Club, which promotes community understanding of current political and social issues through public discourse and the free exchange of ideas. The Sarasota Tiger Bay Club is a nonpartisan political organization established in 1982.

In 2017 Gabriel was appointed by the Sarasota County School Board to serve as a member of the Financial Advisory Committee (FAC). The FAC was created to provide citizens’ oversight of the district’s use of operating funds from the 1-mill locally voted referendum that was originally approved in 2002 and most recently reauthorized in 2018. The FAC provides oversight for the use of capital funding generated by the district’s share of a one-percent county sales tax. The FAC also monitors the District’s investment accounts ($50 million core portfolio).

Feel free to ask questions of our panelists and connect with Gabriel during “Financial Markets and the Economy.” He welcomes the opportunity to share thoughts and ideas on good governance and best practices for nonprofits, small and large. A recent commentary by Gabriel can be found at the following link and offers a window into his thinking on best practices:  Buffett’s 2018 Letter / Fees Matter When Investing “Forever” / Clear Your Calendar for April 11th

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Erin McLeod President & CEO of Friendship Centers Sarasota, to speak at Financial Markets and the Economy Event

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Erin McLeod president and CEO of the Friendship Centers Sarasota

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the Session II panel, “Health, Hunger, and Philanthropy” bringing together Judith Monroe, Erin McLeod, Lisa Marsh Ryerson, and Gabriel Hament. The moderator will be Lisa Shaw.

Erin McLeod is president and CEO of the Friendship Centers of Sarasota, FL, a regional nonprofit with a $17M+ annual budget that has served seniors, families, caregivers and promoted health, dignity and quality of life throughout the journey of aging since 1973. Erin has been a Sarasota resident for 36 years and initially joined the Friendship Centers in 2004 as their director of communications. She became chief operating officer in 2006, Senior VP in 2012, and president and CEO in January 2016.

Erin has broad experience in consulting, healthcare, hospitality, public speaking, and the nonprofit arena. McLeod currently serves as a trustee on the Florida Council on Aging board, as a board member of the Southwest Florida Planned Giving Council, and on the advisory boards of Visit Sarasota and the Junior League of Sarasota County.

Come interact and connect with Erin during the Financial Markets and the Economy event at USF Sarasota-Manatee and hear how the Friendship Centers launched a pilot project seeking to make a dent in the local housing crunch by matching elders with space to spare and workers trying to make ends meet along with other leadership positions in the nonprofit arena.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Lisa Marsh Ryerson, President AARP Foundation, to speak at Financial Markets and the Economy Event

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Lisa Marsh Ryerson, President AARP Foundation

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the Session II panel, “Health, Hunger, and Philanthropy” bringing together Judith Monroe, Erin McLeod, Lisa Marsh Ryerson, and Gabriel Hament. The moderator will be Lisa Shaw.

Lisa Marsh Ryerson, is President of the AARP Foundation, the charitable affiliate of AARP. Lisa sets the Foundation’s strategic direction and steers its efforts to realize an audacious vision: a country free of poverty, where no older person feels vulnerable. Ms. Ryerson will share her perspectives as a philanthropic leader and her history of spearheading innovative partnerships with other organizations, including The Root Cause Coalition, co-founded by AARP Foundation and ProMedica, which brings the full power of health care to bear in the collective fight to address the root causes of health disparities by focusing on hunger and other social determinants of health. The Foundation’s newest collaborative effort, Connect2Affect, draws together aging, volunteer, and health-care organizations to help end isolation and build the social connections older adults need to thrive.

During her tenure, the Foundation has launched initiatives that include Age Strong, the Summer of Service to Seniors ℠, Work for Yourself@50+, the Aging in Place $50K Challenge, and evidence-based grantmaking. The Foundation also brought Experience Corps under its umbrella and expanded the reach and outcomes of its workforce programs including its longstanding sponsorship of the Senior Community Service Employment Program (SCSEP).

She also has served on the boards of numerous higher education and nonprofit organizations, both at the local and national level. These include the National Association of Independent Colleges & Universities, Southern New Hampshire University, the Congressional Hunger Center, the Root Cause Coalition, and L.A. Kitchen.

Come listen and connect with Lisa during the Financial Markets and the Economy event at USF Sarasota-Manatee and hear how the AARP Foundation endeavors to end senior poverty by helping older adults build economic opportunity & social connectedness.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Leland Miller, CEO China Beige Book International, to speak at Financial Markets and the Economy Event

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Leland Miller, CEO China Beige Book International

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the Session III panel, “How the World Looks to Me,” a discussion of the world geo-politically, politically, from an investor’s point of view, and from the perspective of Leland Miller, CEO China Beige Book International.

According to Leland, his firm operates “the largest private in-country data-collection network ever developed to track the Chinese marketplace, gathering real-time economic data from thousands of firms across all of China’s regions, sectors, and 34 discrete industries.” These data points are what the China Beige Book team uses to guide their clients in doing business with the world’s second-largest economy and Leland will be in town to participate and share his knowledge during the Financial Markets and the Economy event at USF Sarasota-Manatee.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Susan Harper, Canadian Consul General in Miami, to speak at Financial Markets and the Economy Event

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Conversation with Susan Harper

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including a conversation with Canada’s Consul General in Florida, Susan Harper.

Susan’s expertise is wide and varied, with a focus on international trade in Canada, the US and Latin America, as well as the breadth of the Canada-Florida connection, in the context of the special relationship and common border Canada and the United States share. We’ll discuss with her the Canadian footprint in Florida, the new USMCA agreement, tariffs, and more.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Gretchen Morgenson to Keynote at Financial Markets and the Economy – Financial Literacy Day III

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Keynote Gretchen Morgenson

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including the keynote speaker, Gretchen Morgenson, Senior Special Writer in the Investigations Unit at The Wall Street Journal.

The WSJ says of Morgenson:

“Following a stint on Wall Street, she began covering the financial markets in 1986 at Forbes. In 2002, she won a Pulitzer Prize for her “trenchant and incisive” reporting on Wall Street for The New York Times. She has also won three Gerald Loeb Awards and is a co-author of Reckless Endangerment, a bestselling 2011 book about the origins of the 2008 financial crisis.”

See our write-up about Gretchen’s “Don’t Blink, or You’ll Miss another Bailout” 2013 article where she focused on secretive decision making at the NY Fed. Part of the greatness of America includes the constitutional right of a free press and we’re pleased Gretchen Morgenson is among them.

Ms. Morgenson will have a reception at the conclusion of her talk and her book, Reckless Endangerment, will be available for those who wish it.


Update (04/12/2019): Gretchen Morgenson’s keynote address and Q&A session from the conference are posted here. Enjoy!

Gretchen Morgenson’s Keynote Address

Gretchen Morgenson’s Q&A with audience


Cumberland Advisors’ “Financial Markets and the Economy – Financial Literacy Day III” event, was held April 11, 2019, at the Selby Auditorium of the University of South Florida Sarasota-Manatee.

The focus was “Financial Markets and the Economy”, featuring:

Panels-
• The Stock Market
• Health Hunger and Philanthropy
• How the World Looks to Me – A Global Economic Outlook

Special Presentations-
A Conversation with Susan Harper, Canada’s Consul Gen in Fla, on Trade/World Affairs
Keynote by Gretchen Morgenson, Senior Special Writer in the Investigations Unit at The Wall Street Journal and Former Business and Financial Editor for the New York Times.

We welcome and encourage the participation of our friends, colleagues, and clients.

Learn more: https://www.cumber.com/financial-literacy-day/

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Keynote Gretchen Morgenson (Book - Reckless Endangerment)

Read some of Gretchen’s current work at the Wall Street Journal.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.




Stock Market Panelist Richard Hoey featured at Financial Literacy Day III

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center invite you to our third annual Financial Literacy Day, to be held April 11, 2019, from 8:30 AM to 4 PM in the Selby Auditorium of the USFSM campus.

The theme this year is “Financial Markets and the Economy,” and the event will feature a number of panel discussions and special presentations, including:

The first session of the day, “The Stock Market,” will bring together Richard Hoey, Tripp Zimmerman, and Matt McAleer. The moderator will be Maryanne Waldman.

Richard Hoey is Senior Economic Advisor to BNY Mellon Wealth Management. He is responsible for monitoring all aspects of the economic environment including the global economy, the US economy, and the financial markets. He is a member of the Investment Strategy Committee of BNY Mellon Wealth Management and works closely with investment teams across the firm.

Richard has been an investment professional for over five decades, acting as a chief economist, equity portfolio manager, investment strategist and director of equity research.

FINANCIAL MARKETS & THE ECONOMY Financial Literacy Day III Richard HoeyPhoto: Richard Hoey

He has been chief economist of a number of financial firms, including BNY Mellon, Mellon Financial, Dreyfus, Drexel Burnham Lambert, Prudential-Bache and Warburg Paribas Becker.

Mr. Hoey graduated from Yale College where he earned a B.A. degree in politics and economics and from New York University Graduate School of Business Administration where he earned an M.B.A. in investments.

Financial Literacy Day welcomes the participation of the general public. The cost is only $50 to register, and coffee, pastries, and lunch are included. Please reserve your spot soon – we expect to have a full auditorium. You can make your reservation online and learn more at http://USFSM.edu/FinancialLiteracy.