Student Managed Investment Fund

Bucknell University School of Management

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January 24, 2012

Today in Class: We discussed the online presence of SMIF (on Twitter, Facebook, and this website), heard the accounting report, discussed filling out sectors with ETFs, and presented additional Buy/Hold/Sells.

Accounting Report, click here for full report.  Notably we were called out on AFL and EBAY and are currently holding over 55% of the portfolio in cash.

Buy/Hold/Sells

  • EMB by Tom: Hold
  • VTR by Alec: Hold
  • AAPL by Arvi: Hold
  • AXP by Vince: Hold
  • FSTR by Ryan: Hold
  • TIP by Brendan: Hold
  • BMY by Oliver: Hold
  • DEO by Stefanie: Hold
  • INTC by Jordan: Hold
  • KO by Erin: Hold
  • LVS by Erin: Hold
  • BLK by Lindsay: Hold.  The class also decided to sell (20-0-1) April $195 calls.
  • UPS by Jeff: Sell.  The class voted to sell (21-0) all shares at $74.98.  This decision was reached due to worries about Europe and Asia, influenced in part by the IMF’s recent forecast of growth cuts globally.
  • GLD by Will: Hold
  • SCCO by Will: Hold

Read full minutes here: 1-24-12AM and 1-24-12PM

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September 20, 2011

Today in Class:

Students were assigned to sector committees based on the S&P 500 to present within the next two weeks on the outlook for that sector and determine an appropriate sector allocation in the portfolio.  Further changes were proposed to enhance the detail taken in minutes.  The professors announced that Frank Schreiner would visit the class on October 6th.  The accounting committee presented their weekly report, drawing attention to the fact that the fund was still overweight financials and consumer staples.

Buy/Hold/Sell:

  • Monica Wu – TEVA: More issues centered on uncertainty of TEVA’s generic drug pipeline have forced one more look at this company, scheduled for next class.
  • Henry Huang – PG: Proposed to buy 350 shares at $62, but the motion failed.  The class considered whether KO was a better buy in the consumer staples sector before ultimately deciding to buy 100 more shares of PG at a $61.16 limit order.
  • Thomas Brown – EMB:  A proposal to sell due to credit and interest rate risks failed, as did one to buy due to preferable yield.  Class settled on holding due to the diversity of holdings and exposure to emerging markets.
  • Brendan Smith – TIP: hold.
  • Alec Jacobs – VTR: hold.  There was some concern over the REIT’s low return but no alternative investment was proposed at the time.
  • Jason Katz – VZ: hold, Verizon is one of the best performing telecoms on the market.
  • Erin Reddy – KO: recommended a hold but further discussion revealed a desire to accumulate because of Coke’s excellent exposure to emerging markets, which the portfolio currently lacks.  Similarly to VZ, it is a better performer than its competitor, PepsiCo.  The ultimate decision was to place a limit order for 100 more shares at $69.51

Access full meeting minutes: 09-20am and 09-20pm