Babson College Fund Rick Spillane, CFA October 21, 2013
Presentation Outline 1. My Background 2. BCF 2013/2014 3. Investment Philosophy 4. Recruiting Strategy 5. Q+A
My background RPI, Chemical Engineer; Harvard MBA Eaton Vance Management, 1977 -1987 Analyst and Portfolio Manager Fidelity Investments, 1988 -2007 Analyst and Portfolio Manager Director of Research Chief Investment Officer (US and Europe) Head of Strategic Advisers (Fidelity’s RIA) BABSON FACULTY 2007 -PRESENT
What is BCF? BCF runs a portion of the Babson Endowment 25 Students (undergrads and MBA’s) The objective is to beat the S+P 500 Long/ short portfolio of Equities Fully invested (market timing not allowed) Heavy Focus on investment analysis (stock picking) MEETINGS ARE MONDAY NIGHTS 6: 30 TO 9: 00 PM 6: 30 -7: 30 Coaching session with Exec in Residence 7: 30 -9: 00 Portfolio overview and Stock Pitches One Friday seminar per semester
Executives in Residence Warren Johnson, CFA Hugh Crowther Jim Spencer, CFA Rick Mace Charles Mangum Chris Stix Mike Dunn Pratima Abichandani Steve Petersen Bill Ebsworth
Investment Philosphy Market Timing High Impact On Return Style Timing Size Timing Sector Selection Stock Selection Low Probability Of Success High
Page 7 Annual data from 1986 through 2008
Sectors Executive Portfolio Managers Finance Consumer Basic Materials/Energy Industrials Healthcare Utilities/Telecom Technology Quantitative/Risk Management
What do you do? Follow your sector closely Buy and sell stocks in your sector Work in a team of 1 -3 other managers Write 3 research reports per semester Write a Semester Report/Sector Overview
Why you should do this You will learn a lot about fund management and stock analysis You are investing REAL MONEY You will work hard, but learn a lot This is as close to real world investment management as possible You earn class credits for two semesters Enhanced Job Prospects in the Investment Management Industry
Recruiting Approach Designed to “even out” the number of students on the fund during the year so everyone does not stop and start at the same time Fall: recruit 2 year MBA’s, Junior Undergrads with a December graduation date, Evening MBA’s Spring: Junior Undergrads with a May graduation date and Evening MBA’s Summer: One Year MBA’s/Evening MBA’s
Application Process Application on BCF Website http: //cutler. babson. edu/babsoncollegefund/BCFApply. a spx Send to Karl Honerlaw by Friday Nov. 22 nd by noon. Interviews on Monday December 2. You start immediately NOTE: You must take or have taken FIN 7503 (Equities) if you are an MBA student!!
Questions? ? ?
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