On October 1, 2014, the Bucknell Student Managed Investment Fund (SMIF) was pleased to welcome Frank Schreiner, Bucknell Class of 1983, Daniel Greenberg, Bucknell Class of 2007, and Katrina Schmaltz, Bucknell Class of 2010. Mr. Schreiner is a Managing Director at BlackRock, the world’s largest asset manager. After graduating from Bucknell with a degree in economics, Mr. Schreiner went on to obtain his MBA at Rutgers Business School and is a CFA. In his current position, Mr. Schreiner leads a group of 13 Portfolio Managers, Associate Portfolio Managers, and Portfolio Specialists, with approximately $5 billion of discretionary assets under management. With Mr. Schreiner that day was Daniel Greenberg, a Bucknell graduate, SMIF alumnus and CFA, who is currently an Associate Portfolio Manager at BlackRock. Also with Mr. Schreiner that day was Katrina Schmaltz, another Bucknell graduate, SMIF alumnus, and CPA, who currently works at BlackRock as well.
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.
- 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