AIM class provides hands-on experience

first_imgNotre Dame’s Applied Investment Management course (AIM) is true to its name: It allows students to directly apply their knowledge of equity evaluation and research through the management of a live portfolio of University funds. The handpicked students in the class, comprised of undergraduate seniors in the fall and MBA students in the spring, manage approximately $6 million of the University’s endowment fund through the buying and selling of stocks. Executive-in-Residence Jerry Langley, one of the faculty members that oversee AIM, said Notre Dame created the course in 1995 with the intent of teaching students how to evaluate U.S. stocks and manage a live portfolio. “[The University] felt the students should have a hands-on experience learning equity evaluation, and it means a lot more when it’s real money, not play money,” he said. “We’ve put additional money into the fund since, and the fund has done quite well.” Before each semester, the approximately 25 students each choose a stock from the portfolio out of a hat. The students then present six reports on the stock over the first half of the semester, including an overview of what the company does, an analysis of the industry and an earnings forecast. “They wind up doing an intrinsic evaluation, saying this is what we believe the stock is worth intrinsically, compared with the stock exchange,” Langley said. “And then they say buy or sell.” After that process ends right before fall or spring break, students choose their own stocks to research for the second half of the course, and they repeat the process. At the end of the semester, the students make a decision about the stocks in the portfolio. “This semester they were left with 54 stocks to vote on,” Langley said. “They sold a few of the ones we held and bought some new ones, and they left 25 stocks in the portfolio for the spring.” Senior Alex Vander Linde, a student in this semester’s AIM class, said he particularly enjoyed seeing that $250,000 of the endowment fund was spent to buy a stock that he personally had recommended. “It is really refreshing being in a class with direct practical application, instead of learning about theoretical concepts,” he said. “And knowing that you and your peers are in charge of a large amount of money serves as a great motivation to do your homework.” While the course’s six credit hours commanded the most effort he has put toward a class, Vander Linde said the benefits he has reaped from AIM far outweigh the workload. “After graduation I plan to work in investment banking where financial analysis is performed on a daily basis,” he said. “The skills I learned in this class will prove helpful, but even more importantly, learning how other people look at companies and think about stocks has given me a perspective I never imagined when enrolling in this class.” Langley said the brightness of the students stands out as the main reason he enjoys teaching AIM. In order to register for the course, students must submit a resume, a grade transcript and a statement on why they would like to be in the class. “Because it’s handpicked, we get typically the top students applying for the class,” Langley said. “The class is very well known on Wall Street and in the financial services industry. The students who get in are highly desirable so I get to work with the best and the brightest.” Senior AIM student Sam Beres agreed the hardworking nature of the students in the class provided a unique learning opportunity. “The students in AIM really made it what it was,” he said. “A lot of what I learned actually came from them.” Beres said he chose to apply for AIM because of its prestigious reputation as a demanding yet extremely rewarding finance class. “I was told it was the best hands-on investing experience you could receive here at Notre Dame as a finance student,” he said. “Also, having the opportunity to manage a small portion of the University’s own money and network with top finance professionals across the nation was really too good to pass up.” AIM students are given several opportunities to network with investment professionals, Langley said. Alumni who work in the field often spoke to this semester’s class on the Fridays before football games. Additionally, the AIM class traveled to Chicago and New York to meet with investment professionals and gain exposure to different forms of investment. “Talking to successful professionals at great firms helped us gain insight on how others go through the security research and analysis process and how they make investment decisions,” Beres said. “The networking opportunities we had during them were probably the most important takeaway.” The trips to Chicago and New York not only offered great contact for the future, Vander Linde said, but they also provided the students with incentives to work hard in their professions. “We were lucky enough to speak with two billionaires on these visits, which was a pretty motivating experience,” he said.last_img read more

Nearly half of Townsville properties selling at a loss

first_imgSELLERS in Townsville are feeling the pinch of the region’s struggling property market with nearly half of homes changing hands for less than what they were bought for. CoreLogic’s 2018 June Quarter Pain and Gain report shows that 47.1 of properties in Townsville sold at a loss.However, the rate of loss making sales is expected to fall as Townsville’s economy strengthens.CoreLogic head of research Tim Lawless said the amount of profitable sales in Townsville is expected to rise but it would take some time.“The economy is improving, we are seeing a lot of big infrastructure projects so I think things are certainly up,” he said.“I think they will fall but it will be quite a gradual process.”Townsville’s median house price is sitting at $332,000 as of June, after dropping .9 per cent in three months while units have dropped .3 per cent in the same period to $275,000.House in Townsville had less loss making sales at 42.3 per cent than units at 65.5 per cent.Despite Townsville’s high percentage of properties selling at a loss, several other Regional Queensland areas fared worse.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020The Mackay/Isaac/Whitsunday region had 52.1 of houses and 57.4 per cent of units sell at a loss and Central Queensland has 49.4 per cent of houses and 62.7 per cent of units record losses.Mr Lawless said the high amount loss making sales was attributable to the ongoing weakness across the Townsville market.“Townsville’s, market has been tracking backwards for about four years and even though that rate has kind of evened off we haven’t seen the market move back to positive growth yet,” he said.“So there is a lot of people who bought into the market place even, seven, eight, nine, ten years ago where the value of property is either about what they paid for if not a little bit lower.”Mr Lawless said while sellers in Townsville were struggling to make a profit, it was a prime time to buy.“The silver lining is that buyers are benefiting from a substantial improvement in housing affordability.” he said.“With the local economy showing some signs of improving, we may be close to seeing the Townsville housing market move through the bottom of that has been a long and substantial down phase.”last_img read more

Norton willing and ready to assist Commonwealth Games-bound athletes

first_imgAS Guyana prepares for another appearance at next year’s Commonwealth Games, Minister of Social Cohesion, who also holds the responsible for Sport, Dr George Norton, pledges help to enhance the country’s chances of winning medals at the event.Norton, speaking at last weekend’s Commonwealth Games Federation (CGF) Meeting of the Americas and Caribbean, stated his mission but also noted that time is of the essence since the Commonwealth Games is five months away.“My mission is to increase Guyana’s medal tally and ranking in the shortest possible time (and I want) to ensure that our athletes are given the necessary support to represent Guyana effectively,” Norton noted during his address.The minister will be put to the test immediately, with Guyana’s Sevens Rugby team preparing for the Rugby Americas North (RAN) Sevens Championship in Mexico, November 25-26.Guyana team are known for their dominance in the Sevens format, having won seven regional titles; the most by any Caribbean team under the RAN umbrella, and Guyana Rugby Football Union (GRFU) had stated that while retaining their title is priority, qualifying for a number of other international tournaments is also key.This year’s RAN Sevens Championship is a qualifier for the 2018 Central American and Caribbean Sports Organisation (CACSO) Games, 2018 Hong Kong Sevens, Rugby World Cup Sevens 2018 and Commonwealth Games.Should the ‘Green Machine’ finish on top as expected in Mexico, they will make their second appearance at the Commonwealth Games. Guyana for the first time, in 2010, qualified for the Commonwealth Games, which was held in India.FLASHBACK 2002! Guyana’s Aliann Pompey waves to the crowd after winning the women’s 400m in a time of 51.63secs in the City of Manchester Stadium during the XVII Commonwealth Games.In 2010, the Bharrat Jagdeo-led Government of Guyana had contributed $5M to the GRFU to help prepare the team who were unsuccessful to secure a win against eventually winners, New Zealand, Scotland, Canada and Tonga.Guyana have participated in 16 Commonwealth Games, with their first being in 1934, when the games were hosted in Hamilton, Ontario Canada, when it was known as the British Empire Games.Phil Edwards, in 1934, won Guyana’s (then known as British Guiana) first gold medal at the Commonwealth Games. Winfield Braithwaite, in boxing, won the country’s second gold medal at the 1978 Games in Edmonton, Canada.It was not until the 2002 games in Manchester England, that Guyana won another gold at the Commonwealth Games, thanks to Aliann Pompey’s exceptional run in the women’s 400m.It was also Guyana’s lone medal win at the event that year. Pompey was also Guyana’s lone medal winner at the games in 2010, winning silver in the 400m.Guyana, in total, won 15 medals in their 17 showings at the games – three gold, six silver and six bronze – and with the Guyana Olympic Association (GOA) already beginning preparations for Guyana’s showing at the games in Australia next year, it will be interesting to see how Minister Dr Norton responds to the athletes’ request for assistance.The 2018 Commonwealth Games, officially known as the XXI Commonwealth Games and commonly known as Gold Coast 2018, will be held on the Gold Coast, Queensland, Australia between April 4 and 18.last_img read more

Kana’i Mauga is making the most of his chances

first_imgEchols was able to sum up Mauga’s playing style in a single word. “[Gaoteote] has taught me a lot,” Mauga said. “He always tells me the rights from the wrongs. He always tells me that I have to drop a little more or that I have to read faster. He gives me tips here and there [as to] what I can do better.”  “Wild,” he said. “He’s everywhere: special teams, defense … Kana’i can do a lot of things. He’s just like a wildfire. He spreads everywhere — he’s everywhere.”  “He reminds me a lot of what [Pittman] did when he was a young person — just a guy that we can count on day in and day out,” Helton said. “I remember that with [Pittman], he was waiting for his time, and meanwhile he was just being so special on our special teams and that’s what Kana’i has been — just a true teammate in doing whatever is called upon him to help the team win.”  “Especially from where I grew up and where I came from, it’s not very privileged,” he said. “It takes a lot of hard work to make it out of there. I feel like [my play] gives them confidence, and that’s what they should get from this — that anything is possible through work.” When asked whether or not he expected the performance, Mauga replied, “Not at all.” In his starting debut Saturday against Arizona, however, Mauga racked up a career-high 13 tackles, a sack, a forced fumble and an interception. Mauga certainly made the most of his chance Saturday. Head coach Clay Helton had nothing but praise for Mauga after the breakout performance, comparing him to teammate senior wide receiver Michael Pittman Jr. who, similar to Mauga, made his mark on special teams before his star turn. “USC is a very special place,” Mauga said. “You ask anybody about USC and they’ll have a whole story about [it]. It’s really awesome being a part of this legacy.” USC football’s consistent injuries continue to provide lesser-known players the opportunity to prove themselves. Few have responded to this call to action better than sophomore linebacker Kana’i Mauga. Mauga stepped in after sophomore Palaie Gaoteote IV sprained his ankle during the Trojans’ Week 7 matchup with Notre Dame. While Mauga had appeared in all of USC’s games to that point, he only played sparingly on special teams and at linebacker and registered just nine tackles. Redshirt sophomore outside linebacker Hunter Echols offered similar praise for his teammate. After enrolling in Spring 2018, Mauga played a limited role in the Trojans’ defense. Despite playing in all 12 games last season, he racked up just 14 tackles. Prior to Saturday’s game, Mauga continued to see limited action and was only brought in against specific offensive packages. Although his in-game action on defense was limited, Mauga was never discouraged.  Redshirt senior inside linebacker John Houston Jr. said Mauga fit in seamlessly not just on the field, but in the team’s preparatory process. Mauga credited his teammates and coaches for preparing him for his first start, especially the injured Gaoteote. “We love Kana’i,” Echols said. “[Kana’i] is a baller. He’s a beast … He works so hard … He’s putting himself in positions on the field to make plays, and I’m just so excited for that guy.”  Mauga is a former four-star recruit out of Waianae High School in Waianae, Hawaii. The 6-foot-2-inch linebacker was highly recruited by most of the Pac-12 but committed to USC prior to the 2017 season. “It wasn’t too bad. I just had to wait my turn,” Mauga said. “So I just kept encouraging the other people in the front [of me], and I just waited for my turn.” Sophomore linebacker Kana’i Mauga started in place of the injured sophomore Palaie Gaoteote IV Saturday against Arizona, managing 13 tackles, a sack, a forced fumble and an interception. (Photo courtesy of John McGillen / USC Athletics ) Hawaii has a proud football tradition and has recently served as a deep pipeline of college football talent. Mauga is part of that tradition, and the potential impact he could have on young players back home is not lost on him. last_img read more