BIMA PRESENTATION
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Transcript BIMA PRESENTATION
Babson College Fund
Rick Spillane, CFA
March 9, 2015
Presentation Outline
1. My Background
2. BCF 2014/2015
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
23 Students (undergrads and MBA’s)
The objective is to beat the S+P500
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
Low
Probability Of Success
High
Sectors
Executive Portfolio Managers
Consumer
Basic Materials/Energy
Industrials
Healthcare
Utilities/Telecom
Technology
Financials
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
Visits/ Guest Speakers
Teams met with a counterpart at Fidelity in the fall
Guest speakers at the meetings. In the last 2 years
the following have been guest speakers
Fidelity CIO and Director of Research
Hedge Fund managers (3)
President of Northfield
Fed official, former BCF student
Strategist from BNY Mellon
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
Key dates
Spring 2015
Info session March 9th
Applications by Midnight E.S.T. on April 2nd
Interviews April 10th
Application Process
Application on BCF Website
http://cutler.babson.edu/babsoncollegefund/BCFApply.a
spx
Send to Karl Honerlow by Thursday, April 2nd.
Interviews on Friday, April 10th
You start immediately
NOTE: You must take or have taken FIN 7503 (Equities)
if you are an MBA student!!
Questions???