About the Course and How to Apply
Designed as a two-semester progression, this course will give students valuable hands-on experience researching, analyzing, and managing a portfolio of small capitalization (small-cap) stocks. The fall course will begin with lectures that introduce equity research methods, including valuation, modeling, fundamental analysis, and cultivating resources. Then the student analysts, in teams, will complete an initiation-of-coverage research report on a firm that will require the team to talk to or meet with company management, visit company sites, and utilize various information sources including financial documents, trade associations, and competitors, customers, and suppliers of the firm. Each student will also learn to use Bloomberg, FactSet, Thomson Eikon, and other resources commonly used in the investment management industry. Based on the research reports and recommendations of the student teams, the members of the class, as the small-cap portfolio’s investment committee, will decide which firms to include in the portfolio. In the spring, one team of students will compete in the CFA Investment Research Challenge, while other student teams will complete another initiation-of-coverage research report.
Time: Mondays, 2:30-5:00pm, for a total of 16 weeks spread across the two semesters
Location: Hodges Financial Markets Center
Structure: The main emphasis is on out-of-class assignments supplemented by in-class discussion
and decision-making. Small-Cap I is a two-hour class held in the fall, which is intended to
be followed by Small-Cap II, a one-hour class, in the spring.
- Brandon Troegle, CFA®, is a Managing Director and Portfolio Manager with Hillcrest Asset Management, focusing on the firm’s securities selections across various strategies. Before joining Hillcrest, Brandon was an equity analyst at Morningstar. Prior to Morningstar, he worked for Luther King Capital Management and Bank of America.
- Wesley Wright, CFA®, is a Portfolio Manager at Hillcrest Asset Management focusing on the firm’s International Value Strategy. Prior to joining Hillcrest, Wesley was a Portfolio Manager at Dreman Value Management in New York where he managed the firm’s International Value product and U.S. All- Cap Value product.
How to Apply:Complete the online application at https://www.baylor.edu/business/financialmarkets/apply.
In addition to the usual contact and background information you will need to provide:
- A statement of why you wish to take the course
- Description(s) of any investment and/or finance-related experience
- Descriptions of three academic and/or personal achievements
- Uploaded copies of your current resume and current unofficial transcript
The deadline for submission is 5:00pm, Tuesday, March 20.
Enrollment is limited to 15 graduate and undergraduate business students with a minimum 3.2 GPA, a strong academic record, and an interest in investments. Applicants will be evaluated by a Finance faculty committee chaired by Dr. Bill Reichenstein, Professor of Finance and Chair of the Board of Trustees of the Investment Fund.