Dear Colleagues and Friends,![Tuugi Chuluun](https://wp.towson.edu/bbr/files/2018/01/Tuugi-1-21pypag-200x300.jpg)
It gives me great pleasure to share with you the ninth edition of the Baltimore Business Review, a product of an important and fruitful partnership between the CFA Society Baltimore and Towson University’s College of Business and Economics. We at the CFA Society Baltimore hope that this partnership continues to strengthen for many years to come. Many individuals have worked tirelessly on this edition. First, I want to thank all the contributors who wrote a variety of thought provoking and informative articles. I also would like to extend special thank you to the editorial team, Farhan Mustafa from CFA Society Baltimore and Jian Huang and Lijing Du from Towson University, and the design team, Rick Pallansch and Chris Komisar from the Towson University Creative Services.
“We at the CFA Society Baltimore work hard to create valuable educational and networking opportunities for our current and future members and continue to look for ways to engage our membership and broaden our reach.”
CFA Society Baltimore traces its history back to 1948 and has over 750 members today. The collective mission of CFA Society Baltimore and the CFA Institute is to lead the investment profession globally by promoting the highest standards of ethics, education and professional excellence for the utmost benefit of society. Participation and membership in the CFA Society Baltimore is open to all professionals who are dedicated to these high standards, and next to this message you can see a list of the top ten employers of our society’s members.
We at the CFA Society Baltimore work hard to create valuable educational and networking opportunities for our current and future members and continue to look for ways to engage our membership and broaden our reach. We hope to engage with you in conversations about timely topics and trends that are affecting the broader financial services industry ranging from gender diversity to the growth of passive investing. In addition to our frequent speaker events, we also organize a variety of events for our members to connect and build a community of like-minded professionals committed to professional excellence and ethics whether that is through a Baltimore Running Festival relay team or volunteering. We invite you to join us for an event in the near future.
Please enjoy this excellent publication. As always, we would love to hear any feedback you might have. To learn more about how CFA Society Baltimore can help support your career development and professional growth, please visit our website or find us on social media.
Tuugi Chuluun, CFA, PhD
President, CFA Society Baltimore
![CFA Society Baltimore](https://wp.towson.edu/bbr/files/2018/02/CFAlogo-01-wu3vkg-300x101.png)