Tag Archives: Applied Portfolio Management

APMP Team Repeats Win in New York City

Cory Sullivan participating in Nasdaq closing
Cory Sullivan participating in Nasdaq closing

March 31, 2015 – It’s been said the only thing more difficult than winning a championship, is repeating. That is exactly what an Applied Portfolio Management Program team from Michigan Technological University has done.

For the second year in a row, the School of Business and Economics’ APMP team won the global investment competition at the Global Asset Management Education (GAME) Forum V, hosted by Quinnipiac University in New York City. The event, held March 19-21, attracted more than 1,200 students from 140 colleges in 40 countries and 39 states.

While in New York, the team participated in the NASDAQ Stock Exchange closing, attended presentations by some of the biggest names in the world of finance and visited with  APMP alums.

Keynote speakers included: Guy Adami, chief market strategist for Private Advisory Group and contributor to CNBC’s Fast Money; Joseph Terranova, chief market strategist for Virtus Investment partners and another “Fast Money” contributor; David M. Darst, former managing director and chief investment strategist for Morgan Stanley Weather Management; Abby Joseph Cohen senior investment strategist and president of the Global Markets Institute at Goldman Sachs; and Tom Keene, editor-at-large at Bloomberg News.

Tech Team

The APMP sent three students to the competition, Cory Sullivan, who participated in the NASDAQ closing ceremony, Heath Johnson and Derek Menard.

The results of the team’s investments were impressive according to Dean Johnson who is the James and Dolores Tretheway Professor in the School of Business and Economics and the APMP’s founding director. He says what sets the competition apart is the fact the students are investing real money–a lot of real money.

“The team manages $1 million through the Michigan Tech Fund,” Johnson explains. “These funds were explicitly donated to be managed by the students.”

He says the APMP team has done well with the fund’s money. Johnson says the team practices the concept of Risk Adjusted Returns, In which an investment’s return is measured by how much risk is involved in producing that return. Even more impressive is the fact the students themselves make all investment decisions. “They have complete control,” Johnson says. “They are hired by the APMP Advisory Board, but the students make each and every decision.

Heath Johnson, the only returning member from last year’s winning  team, says while there was a sense of pressure to repeat, the experience of having done it before was beneficial.

“After experiencing the competition last year I knew that we had to be mindful not only or our returns, but also the risk subjected to our portfolio.” Heath Johnson says.

“Our team really wanted to repeat last year’s impressive performance. Winning two years in a row out of 141 schools was incredibly exciting. We were able to outperform the market through very consistent returns while minimizing risk.”

NASDAQ Closing

Cory Sullivan says the overall experience was impressive on several levels. “From participating in the NASDAQ closing and having my picture appear in Times Square, to receiving advice from the biggest names in the finance industry, I realize the great opportunities APMP provides students,”

Indeed, the students hardly have time to enjoy the repeat victory. Heath Johnson, president of the SBE’s Finance Club and other members of the club traveled to the Chicago the following weekend for their annual trip to visit investment firms. Other members of the APMP traveled to Detroit Thursday and Friday to compete in the ENGAGE Investment Education Symposium and competition, hosted by Wayne State University.

Sullivan says the New York trip is just one of many experiences available to the team.  “We interact with great guest speakers on campus and via video conferencing, but we also get the opportunity to travel to both Chicago and Detroit to interact with investment professionals. “

Professor Johnson echoed that sentiment. “APMP students are gaining the experiences and education to be successful in the finance industry. Indeed, their success is already evident in their investment results.”

This article was written by Mark Wilcox and originally published on Michigan Tech News.


APMP Holds Junior Day

Director of APMP, Dean Johnson, prepares another group of students for APMP participation during their senior year.

On April 22nd, the Applied Portfolio Management Program (APMP) held the sixth Annual “Junior Day”. This special event serves to kick start the incoming juniors, as they take over as the new portfolio managers of the APMP portfolio. The juniors began their morning by attending the Spring APMP Advisory Board and watching the graduating APMP senior student portfolio managers present their year-end performance results.  After being introduced to the APMP Advisory Board, the juniors attended a series of guest lectures. This year’s guest speakers included: Ryan Layton, Tim Bailey, Larry Durland, and Paul Kasriel.

Ryan Layton and Tim Bailey are both APMP alumni and introduce the juniors to the program that led them to the careers they have today.  Ryan currently works as a portfolio manager with Main Street Investment Advisors in Chicago. Mr. Layton discussed the importance of asset allocation and the process used by Main Street Investment Advisors to determine a portfolio’s optimal asset allocation. Mr. Bailey works at Fortress Investment Group in San Francisco, which is a $44 billion Private Equity/Hedge fund. He discussed alternative asset investing strategies employed in the hedge fund industry with the new APMP students.

APMP Advisory Board Chairman Larry Durland, discussed the thoughtful development of an investment philosophy and strategy, during his time with the APMP teams. In addition to talking to the APMP teams, Mr. Kasriel also opened his presentation to the entire School of Business and Economics.  Over 60 students attended his guest lecture on the current macroeconomic decisions facing the Federal Reserve and investors. A resident of Door County, Wisconsin, Mr. Kasriel serves as the President of Econtrarian, LLC and is a senior economics and investment advisor with Legacy Private Trust Company of Neenah, Wisconsin.

Junior Day give the students exposure and experience talking with professionals working in the world of finance. As APMP team members, they will be responsible to the APMP Advisory Board as they manage over $1 million during their senior year at Michigan Tech.

Financial support for Junior Day was provided by James and Dolores Trethewey.