In January 2006, Ron and Cathy Bjorklund donated $100,000 to the finance department to create a student managed fund—The David E. Bjorklund Fund named in memory of Ron's brother. The Bjorklund fund is managed in a course format taught in the Raub trading room during market hours.
During a typical semester, the Bjorklund fund is managed by 20 students under the supervision of Siena’s director of the Center for Global Financial Studies. Each student is selected based on his/her academic performance; they can elect to be officer or analyst, depending on his/her interest—i.e., 4 officers manage 16 analysts. The fund’s analysts are solely responsible for picking stocks within their assigned economic sector(s). The fund’s officers are responsible for (1) designing the fund’s strategic guidance (cash, sector, and beta allocation decisions), (2) initiating class and team discussions, and (3) managing analysts. Candidates for officer positions are interviewed and selected by returning officers at the beginning of each semester.
Efficiency and continuity in the fund’s operations- Since the process of investing real money is knowledge-dependent and time-sensitive; it is of utmost importance to conserve know-how by having students returning the following semester. Officers are committed to the Bjorklund fund for 1 year, while analysts can elect to take the course for 1 or 2 semesters. During breaks, the fund is managed by the officers and the director of the Center for Global Financial Studies. Under this format, new and returning students are inevitably mixed and know-how is rapidly transferred. This formula has been optimal to keep the operations of the Bjorklund fund efficient.
Acquiring fundamental analysis skills- Since the learning curve of fundamental analysis and equity valuation is steep and long, students are encouraged to manage the Bjorklund fund over two semesters. During their tenure, analysts and officers use all research tools available in Raub trading room to develop skills in valuing companies with ever-changing operations and strategies in an ever-changing macroeconomic environment. Emphasis is placed on identifying and quantifying value drivers using financial databases such as Bloomberg, Capital IQ, WRDS, Compustat, and/or CRSP.
Seeking exposure and external feedback- Students have their work published weekly in the Siena Market Line, a CGFS-sponsored online publication disseminated via the Bjorklund fund website--www.sienastudentfund.weebly.com. Further, each student is expected to publish at least one stock research report in a refereed professional outlet (such as Seeking Alpha) in order to achieve the highest mark in the course. Finally, analysts and officers are ranked at the end of each semester based on their stock picking skills.
During a typical semester, the Bjorklund fund is managed by 20 students under the supervision of Siena’s director of the Center for Global Financial Studies. Each student is selected based on his/her academic performance; they can elect to be officer or analyst, depending on his/her interest—i.e., 4 officers manage 16 analysts. The fund’s analysts are solely responsible for picking stocks within their assigned economic sector(s). The fund’s officers are responsible for (1) designing the fund’s strategic guidance (cash, sector, and beta allocation decisions), (2) initiating class and team discussions, and (3) managing analysts. Candidates for officer positions are interviewed and selected by returning officers at the beginning of each semester.
Efficiency and continuity in the fund’s operations- Since the process of investing real money is knowledge-dependent and time-sensitive; it is of utmost importance to conserve know-how by having students returning the following semester. Officers are committed to the Bjorklund fund for 1 year, while analysts can elect to take the course for 1 or 2 semesters. During breaks, the fund is managed by the officers and the director of the Center for Global Financial Studies. Under this format, new and returning students are inevitably mixed and know-how is rapidly transferred. This formula has been optimal to keep the operations of the Bjorklund fund efficient.
Acquiring fundamental analysis skills- Since the learning curve of fundamental analysis and equity valuation is steep and long, students are encouraged to manage the Bjorklund fund over two semesters. During their tenure, analysts and officers use all research tools available in Raub trading room to develop skills in valuing companies with ever-changing operations and strategies in an ever-changing macroeconomic environment. Emphasis is placed on identifying and quantifying value drivers using financial databases such as Bloomberg, Capital IQ, WRDS, Compustat, and/or CRSP.
Seeking exposure and external feedback- Students have their work published weekly in the Siena Market Line, a CGFS-sponsored online publication disseminated via the Bjorklund fund website--www.sienastudentfund.weebly.com. Further, each student is expected to publish at least one stock research report in a refereed professional outlet (such as Seeking Alpha) in order to achieve the highest mark in the course. Finally, analysts and officers are ranked at the end of each semester based on their stock picking skills.