Tag Archives: Joe Dancy

APMP Students Attend Berkshire Hathaway Shareholder Event

Michael Morrison and Austin Kuttruff at the Century Center in Omaha, Nebraska.

Applied Portfolio Management Program members, Michael Morrison and Austin Kuttruff, gathered with thousands of stakeholders at the Century Center in Omaha, Nebraska over the weekend for the Annual Berkshire Hathaway Shareholder Event. The crowd in attendance was seeking an intimate exposure to Warren Buffet who is widely considered the most successful investor in the 20th century.

Michael said that one of the biggest takeaways from listening to Buffett was “you have to love something to do well at it.” Being Finance majors, the two Michigan Tech School of Business and Economics students jumped at the opportunity to attend the shareholder event and learned about the passion that is required to be successful. The opportunity to meet Warren Buffett, his company, and its subsidiaries is highly coveted in the world of finance. Their itinerary included watching a movie about Buffett’s company, and the opportunity to ask him questions in an open forum.


Given the Warren Buffet is 82 years old, some shareholders had concerns about the future of Berkshire after he eventually steps away. However, Buffett addressed these concerns with confidence in his company and the people who work there, saying:

The priority is that all of us continue to zealously guard Berkshire’s reputation. We can’t be perfect but we can try to be. As I’ve said in these memos for more than 25 years: We can afford to lose money – even a lot of money. But we can’t afford to lose reputation – even a shred of reputation.

Buffet told an Omaha news crew that he’s not going anywhere anytime soon, but there is a solid plan for when he does eventually step down. The people who will continue his legacy know the steps they must take to continue to be successful.

Overall, the trip was a great learning experience for the two students which was financially supported by Joe Dancy and the LSGI Advisors Inc.


New LSGI Trading Room Dedicated

“A great program finally has an appropriate and wonderful home,” said Darrell Radson, dean of the School of Business and Economics. He was talking about the new LSGI Trading Room, which was dedicated Oct. 7. It will house the Applied Portfolio Management Program (APMP), and was made possible by the generosity of Joe ’76 and Vickey Dancy. Joe is president of LSGI Advisors Inc., a venture fund organization.

APMP, mostly comprised of finance majors, is the School’s long-time success story: winning three national competitions in just over a decade while allowing students to invest more than $1 million of real money in the stock market.

For Joe Dancy, the choice was easy.

“The unique thing about APMP is that the students have more responsibilities and decision-making than other similar programs,” he said. “They go to the national competitions and do so well against many other teams. The students are making all the decisions, and I love the diversity. We’ve had students from different countries, female members, and there have been volleyball, hockey, basketball, and football players.”

One such football player this year is Pat Carroll, wide receiver for the Huskies.

“The room is awesome,” he says. “We are lucky to have this place and get this great experience.”

Carroll transferred from Purdue because they didn’t have an APMP program. Besides being at the dedication, he had been busy prepping for his first Advisory Board meeting with Dancy and others later Thursday night.

“We have to pitch our idea,” he says. “We have to say why they should trust us with this money to manage, just like real life. We have to justify our strategy.” (“It was a little nerve-racking,” Carroll said the next day. “But we did pretty well and received a whole bunch of great criticism from the board members.”)

So, what’s new with the new room?

“The addition of Bloomberg TV gives our students the same advantages as industry professionals,” says Dean Johnson, associate professor of finance and the founder and advisor to APMP. “We are the only educational institution in the UP with these improved trading capabilities. In addition to investing, students can also use its job line. It is a job-matching feature on a private line.”

Johnson said the students also appreciate the bright, window-walled room, which features more space, privacy and elbow room.

Student Anne Dancy (Joe and Vickey’s daughter and APMP member) especially appreciates the increase in space.

“We’ll be able to do more teamwork and use all our resources to become even more successful,” she said.

By Dennis Walikainen, senior editor. Posted in Tech Today on October 10, 2011.



LSGI Trading Room Dedication October 6th at 4pm

Through the generous efforts of Joe and Vickey Dancy and LSGI Advisors, Inc., the School of Business and Economics is proud to announce the dedication of the redesigned and updated LSGI Trading Room home to the Applied Portfolio Management Program. Please join university administration, the Tech Fund Board, the Applied Portfolio Management Program Advisory Board, School of Business and Economics faculty, staff, and students for the LSGI Trading Room Dedication in the Academic Office Building at 4pm on October 6, 2011.

The dedication will include a ceremony to be followed by refreshments and facility tours.


Joe Dancy, APMP Supporter, Featured in Wall Street Journal

Joe Dancy featured with the 2010-2011 Applied Portfolio Management Program students

Joe Dancy, an avid supporter of Michigan Tech and the Applied Portfolio Management Program, has been featured in the Wall Street Journal discussing the benefits of teaching and establishing relationships.

His message, focused on getting involved, is important:

There are plenty of opportunities in high schools, community colleges and universities for advisers to become involved in academia. Working with a school at any level says to clients and other parties: “People are interested in hearing what I have to say.” It’s also a great opportunity to hear feedback on your work. You find out whether the issues you’re addressing are engaging and whether or not you’re able to effectively communicate them. And advisers are not limited to addressing business programs. You could speak to the members of a math department or law school or you could coach a stock market team.

Thanks Joe, for all of your support and many words of wisdom!

Read the full article here.


Michigan Tech Students Receive $50,000 to Begin Trading Stock Options

APMP pictured with Joe Dancy, long-time supporter and board member

Students in the Applied Portfolio Management Program are no strangers to managing a portfolio of stocks and bonds in the stock market.  Now with $50,000 in funds from long-time APMP supporter, Joe Dancy, the students will add another type of asset to their portfolio: options.

Options involve the opportunity to buy or sell different stocks at a predetermined price and time. Not all companies has listed options and traditionally it has been the larger firms. But as Dancy discovered, over the last few years the exchanges are listing options on smaller companies, which makes the process more interesting and potentially lucrative.

Now with Dancy’s generous contribution ear-marked for options trading, APMP students will develop and implement trading strategies around stock options.

“The goal is mainly educational. If we make money, that’s great, if we don’t hopefully Professor Johnson can give the students the theoretical background on why a certain strategy didn’t work. At the end, I’d like to see students confident in managing money and namely their own retirement funds. That will mean I’ve helped to accomplish something. ” Joe Dancy.

Trading options can be risky. To reduce that risk, Director of APMP and Associate Professor of Finance, Dean Johnson, and Dancy will have ultimate authority on stock option portfolio management.  The students will be doing the groundwork and researching the potential payouts from companies in different sectors. Much interest lies in companies that specialize in the field of energy.

“Being able to experience and manage an options portfolio while still in college is a great resume builder and more importantly will give the students more confidence in their investment strategy development,” added Dean Johnson. “Trading stock options is a great example of how we are bringing the best opportunities to Michigan Tech students.”