Tag Archives: Michigan Technological University

APMP Members ENGAGE in Investment Symposium

April 1, 2015 – With a GDP of over $17 trillion dollars, the U.S. is the largest economy in the world. Despite the 2008 financial meltdown, the US dollar has, and continues to be most trusted currency throughout the globe; helping to make the US financial markets the place where investors turn to for security. As APMP students look to enter the world’s largest and most trusted financialsystem it’s important to venture outside the classroom and learn from professionals first hand. This past week APMP seniors Joel Florek, Yi Yuan, and Yinan Chen when to Detroit, MI for Engage 2015 to do just that.

APMP JoelENGAGE is a two day international investment education symposium. The goal at Engage is to help provide a level of insight into our financial system that students can’t learn from sitting in classrooms. To accomplish this goal Engage brought in some of the top financial professionals in the industry to host Q&A discussions.

For example, Dennis P. Lockhart, President and CEO of the Federal Reserve Bank of Atlanta and a 2015 voting member of the Federal Open Market Committee spoke on the Fed’s economic policy decisions from the depths of the 2008 economic meltdown to today. Chaired by Janet Yellen, the FOMC decisions significantly impact not just the US economy, but the global economy. Ultimately Mr. Lockhart made the argument that the actions of the FOMC will be seen as vital to turning around the US economy. He added that within the next 6 to 12 months the FOMC will begin to ease out of its current actions which have been taken to prop up the US financial system. One unique comment from Mr. Lockhart was his cautioning of high US government debt. Due to low interest rates the US has had the ability to borrow high quantities of short term debt requiring small interest payments. As these debts mature, the US will be forced to refinance at higher interest rates hindering its ability to pay off debts.

Additional keynote speakers include Jeffrey Kleintop, the Chief Global Strategist for Charles Schwab and Co., Fred Tomczyk, the President and CEO of TD Ameritrade, and Scott Powers the President and CEO of State Street Global Advisors, which oversees $2.4 trillion in traded funds. Students learned their trading strategies, ideas on the direction of the economy, and career advice to help direct students into the right career paths.

The second day of conference allowed students to break up into smaller sessions that provided more Q&A opportunity. For example, students were able to learn about the CAN SLIM trading strategy, venture capital, hedge funds and received targeted career advice. Thinking back on the Engage experience, Joel Florek said he realized the field of finance is constantly evolving and there is no clear definition as to what one will be doing as a finance professional. Florek said “there is significant room to constantly be learning and changing within the profession. Ultimately, as a finance student ready to go into industry the Engage conference helped to make the lessons learned in the classroom more real, and gain exposure to the flexible ideology that exists amongst professionals.”

This article was written by APMP members Yinan Chen, Joel Florek, and Yinan Chen.


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.


Elliott Family Endowed Scholarships will Enable Business Students to Attend Michigan Tech

Dale and Judy Elliott
Dale and Judy Elliott

Michigan Technological University is something of an Elliott family tradition.  Dale Elliott, his older brother, two brothers-in-law, a sister-in-law as well as a niece and her husband  all went to school there.

Elliott earned an MBA from Michigan Tech’s School of Business and Economics in 1979 and he has served on both the business school’s national advisory board and the President’s Advancement Council. He is also a Life Trustee of the Michigan Tech Fund.

Now he and his family have pledged $1.1 million in scholarship funding to help deserving business students—particularly first-generation college students—benefit from a Michigan Tech education.

“In today’s world, there are some very deserving young people who just need a helping hand,” he explains.

“A business person who understands technology, and a technology person who understands business is a skill set in great demand,” Elliott continued, “and Tech’s School of Business and Economics is doing an outstanding job of preparing students to benefit from that.”

Michigan Tech President Glenn Mroz thanked Elliott for his gift, saying:  “Dale is a perfect example of someone who used his Michigan Tech education as a springboard to success and now wants to give back, to help deserving students prepare for their own future success.”

Elliott, who was the midyear Commencement speaker last December, currently is CEO of  FCM Advisory Group, a consulting business he established.  Prior to that he was President of the Global Bath & Kitchen Business for American Standard Companies and Chairman, President and CEO of Snap-on Tools for many years.

At Michigan Tech’s Dec. 20, 2014 Commencement, he was awarded an honorary doctorate.

About three years ago, Elliott, his wife and daughters established the Elliott Family Annual Scholarship, which helps pay for a business school student’s education.“ We made a modest start and now we’ve decided to expand the program and make it more permanent,“ Elliott said about the new Elliott Family Endowed Scholarships.  “It reflects our ongoing commitment to supporting the educational opportunities that Michigan Tech offers.”

Elliott’s wife, Judy said she is very proud of her husband’s accomplishments. “He was taught a strong work ethic early on and has applied that throughout his career. But even with hard work, to succeed, you have to start with a good education,” she said. “He is so grateful for the education he got at Michigan Tech that he wants to give others that same opportunity, someone who might not be able to afford it otherwise. We both feel really passionate about that.”

The Elliotts’ daughter, Nicole Peace, pointed out that their family has generations of history with Michigan Tech and the City of Houghton.  “It is a source of tremendous pride that our father has demonstrated the significant value an advanced education can provide. By continuing his support of Tech students through this scholarship at the School of Business and Economics, more opportunities can be given to future graduates, who will learn and grow in the great setting Houghton and the Tech community has to offer.”

Jennifer Elliott, the couple’s other daughter, said “We are proud to be a part of this scholarship, which will enable first-generation college students to gain access to an advanced education at Tech and realize their potential for lifelong achievement. It is an honor to reinvest in the university community that has shaped our family for generations.”

Gene Klippel, dean of the School of Business and Economics said that the Elliotts’ gift could not come at a more opportune time. “The number of applications to the School of Business and Economics is up 23 percent from last year.  A substantial portion of those applicants are Michigan residents, with the majority being from the Upper Peninsula.“

 “Thanks to Dale Elliott and his family, we are now able to provide two incoming undergraduate students a renewable scholarship worth $2,500.  Each year, two additional undergraduates will be selected to receive an Elliott Family Annual Scholarship.”

“The School of Business and Economics’ faculty, staff and current students greatly appreciate the generosity and support of the Elliott family,”  Klippel went on to say.  “They have been long- time friends and supporters of the School.  So, we wish to thank the Elliott family for providing this opportunity to our future business students as they work to achieve their potential and place in the world of business.”

This article was originally published by Jennifer Donovan, student writing intern for Michigan Tech News.



Alumni Spotlight: Kate Hogberg

Kate Hogberg
Kate Hogberg earned her BS in Business Administration in 2002

Kate (Harkins) Hogberg conveys architectural principles in her job as Communications Specialist with HDR, Inc. She also is learning a fair amount about building blocks.

Kate, a Michigan Tech SBE graduate, is helping with Duplo instead of Lego sets at home—her child is two years old, and she and her husband are expecting another in June—but communicating about architecture, engineering, and construction is something she does every day.

“My typical day consists of communicating with engineers and scientists to tell stories of successful projects around the world,” says Kate. She leads the production, writing, and editing of internal and external publications, as well as developing the storylines, content, and production for internal and external videos. “Communication happens by email, phone, text, video conference, and in-person, and usually involves me asking a lot of questions to get to the bigger meaning of our work. The technical minds get focused on the technical aspects of their work, and it’s my job to extract how that work was new and innovative, used the latest technology, and made an impact on a community.”

Kate’s work tells the story of science and technology in the world. “I do a lot of writing and editing, work that communicates internal messages and goals and tells the story of our work and its impact,” she says. “Reshaping technical information into straightforward marketing materials takes an ability to collaborate with engineers, something business students at Tech are comfortable taking on.”

In fact, studying business at Tech prepared Kate to step into a technical world and make a difference by telling its story. “Working in the architecture, engineering, and construction industry (AEC) was a natural fit given my education at Tech,” she says. “I was instantly comfortable working with engineers, architects, and scientists, and understood the quirks of communicating with many of them.”

“At Tech, the usual question was ‘What are you?’ What kind of engineer, in other words. That mentality has been a huge advantage for me in the business world.”

Looking back out that window to the mountains, Kate thinks of what her work means in the big picture. “Engineering and science are the foundation of our communities,” she says, gazing at the grid of structures and transportation all the way to the base of those mountains, the ones in the distance barely more than tiny building blocks. “The minds that drive the technical fields have the ability to make a huge difference in our futures. These people solve complex infrastructure challenges and develop scientific breakthroughs.”

Away from the office, Kate’s ability to plan and manage is just as important for leisure as it is for cranking out information on a building project. “Being able to manage your time well is huge,” she says. “I always know what’s coming so I can plan my days accordingly and still have time to spend enjoying the outdoors with my family.”

She pauses again, turning back from the window “I think it’s important to balance work and fun, and finding a company and position that value that as well is critical.”

And what advice for students leaving school and heading into the working world? “It’s exciting to start a career when you graduate, and I think that’s the time to make a name for yourself.” She thinks back on her path from a biomedical engineering firm to a construction company, and now to her home in Denver and career with HDR. “Bring your fresh ideas, show your enthusiasm and put in the time it takes to be great at what you’re doing.”

This profile appeared in the Spring 2013 issue of Impact Magazine, Volume 3, Issue 2