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
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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
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6:30-7:30 Coaching session with Exec in Residence
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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
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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???