Baylor has two student-managed investment funds: A large-cap stock fund currently valued at approximately $11.6 million, and a small-cap stock fund currently valued at approximately $1 million. Students in the Portfolio Practicum courses are directly responsible for managing the portfolios, while learning the techniques used by professionals to analyze and select individual stocks. Each student will also learn how to use Bloomberg, FactSet, Thomson Eikon and other resources commonly used in the investment management industry.
Small-Cap: Mondays, 2:30-5:00pm, for a total of 16 weeks spread across both the Fall and Spring semesters
Large-Cap: Mondays, 5:00-7:30pm, for the Fall Semester only
Location: Hodges Financial Markets Center and/or online, depending on the COVID-19 requirements
Structure: Designed after the format of a funds management firm and built around student participation.
Designed to cover two-semesters, the Small-Cap Practicum gives students experience researching, analyzing, and managing a portfolio of small capitalization (small-cap) stocks. The Fall course introduces equity research methods, including valuation, modeling, fundamental analysis, and cultivating resources. Student analysts, in teams, complete an initiation-of-coverage research report on a firm. Their research may require the team to talk to company management and to utilize various information sources including financial documents, trade associations, and competitors, customers, and suppliers of the firm. In the Spring, one team will compete in the CFA Investment Research Challenge, while other student teams will continue to research and present new opportunities for the portfolio.
The Large Cap Practicum is a one-semester course. The class structure is designed after the operational format of a funds management firm and is built around student participation. Specifically, two-person teams are assigned to cover each sector of the S&P 500. Although there are course readings, the course primarily consists of teams preparing and presenting to the class detailed reports on stocks in their sector. Every class member is involved in a discussion of each stock. Following the presentation and discussion, the team makes a recommendation on each stock. The class votes and the recommendations of the class are implemented.
For a better understanding of either course, you are welcome to attend all or part of a Zoom class session this semester! To get the Zoom link, please email Professor Brandon Troegle at brandon_troegle and let him know which class or classes you want to attend. Both classes are on Monday. The Small-Cap class begins this semester at 3:45 and the Large-Cap class begins at 5:00. The available Mondays this semester are March 15, 22, and 29.
- Brandon Troegle, CFA®, CAIA® is a Managing Director and portfolio manager with Hillcrest Asset Management, focusing on the firm’s securities selection and portfolio construction across various strategies. Before joining Hillcrest, Brandon held analyst roles at Morningstar and Bank of America.
- David Morehead, CFA®, currently serves as Baylor’s Co-Chief Investment Officer. Previously, he spent nearly 20 years investing across a wide range of securities including bank loans and high yield/distressed investments, equity and equity-linked products, commodities, and derivatives. He has both sell-side and buy-side experience from his time at Highview Capital, Ritchie Capital, William Blair, Bank of America, and First Trust Advisors.
How to Apply:
Complete the online application at https://www.baylor.edu/business/financialmarkets/apply. The application will be open beginning at 8am on Thursday, March 11.
In addition to the usual grades, contact, and background information you will need to provide:
- Statements of why you wish to take the course and your career plans/goals
- Description(s) of any investment and/or finance-related experience
- Uploaded copies of your current resume and current unofficial transcript
The deadline for submission is Midnight, Wednesday, March 31.
Enrollment for each course 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.
For More Information go to: http://www.baylor.edu/business/financial_markets,