Developed by Isenberg's Director of Internships Kim Figueroa and her colleagues at the school's Chase Career Center, the course "Career and Professional Development," is equipping students with a roadmap for professional development success, giving them a competitive edge in job interviewing, networking, and skills for researching employers and industries.
Five 2014 honors graduates who completed the Isenberg Finance capstone course "International Macro-Finance and Financial Crises" have returned from Greece, where they met with the country's prime minister, Antonis Samaras (second from left in photo), and other senior-level officials.
CISDM Research Day brought many interesting speakers, including keynote Andrew Lo, Charles and Susan T. Harris Professor and Director of MIT's Laboratory for Financial Engineering, who made who spoke about how financial engineering can bring value to cancer research.
When Kristin Peters '13 attended an orientation at Isenberg before she applied, she knew it was the right school for her. ʺI just got a really great vibe,ʺ she says. Plus, both her parents graduated from UMass, and they were eager to keep the tradition alive.
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Our market regulators are still employing regulatory principles rooted in the 1980s view of the trading environment based on humans wearing multi-colored jackets, while, in fact, what we have is a complex adaptive system of computer algorithms, observed MIT Sloan professor Andrei Kirilenko in his February 7th lecture at Isenberg. An economist with nearly two decades of policy and regulatory experience who most recently served as Chief Economist of the U.S. Commodity Futures Trading Commission, Kirilenko is on a mission to create evidence-based regulatory tools that bear relevance to today's automated trading practices.
"In devising a strategy, good marketers include what-if conditions that might cause that strategy to fail," observed Marc Schneider '81 in his late November visit to Professor Marc Weinberger's class, Managerial Perspectives in Marketing Strategy. A former Isenberg management and finance major, Schneider is Group President of Heritage Brands in Manhattan, one of three divisions in the American-based clothing giant, PVH Corp (Phillips-Van Heusen). Schneider's division manages such high-profile brands as Izod, Van Heusen, Arrow, Speedo, Warner's, and Olga. "We sell one in three dress shirts in the United States. We also own 60% of the market for ties-35 million ties a year," he told the students.
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For Isenberg strategy professor Anurag Sharma, investing is both a science and an art and, most importantly, a deep discipline. His recently published Book of Value arms the reader with a conceptual framework with which to detect true value in a sea of noise.
A prestigious Isenberg asset--the Morningstar CISDM Database--will now be offered by the University of Pennsylvania Wharton School's internet-based data research service, Wharton Research Data Services (WRDS). The Isenberg database, managed by the school's Center for International Securities and Derivatives Markets, tracks qualitative and quantitative information for more than 6,000 hedge funds, funds of funds, and commodity trading advisors (CTAs). Morningstar CISDM also includes a database that provides robust information on 13,000 inactive funds.
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Representative Neal ʺAusterity in an economic downturn--I disagree with that vehemently. And I'm an avowed capitalist,ʺ observed U.S. Representative Richard Neal in Alternative Investments, a course taught by Isenberg finance professor Mila Getmansky Sherman. ʺIt's an ill-conceived belief that tax cuts pay for themselves,ʺ the Massachusetts Democrat continued, citing the Bush Administration's $2.3 trillion in tax cuts in 2001 and 2003. The cuts, he emphasized, came on the heels of balanced budgets during the last four years of the Clinton Administration. ʺWith the Bush cuts, economic growth became the most anemic since Hoover,ʺ noted Neal, who for a decade has also taught a journalism course at UMass Amherst.
Two Isenberg finance professors returned to Isenberg with valuable new insights after recent stints at two federal regulatory agencies in Washington, D.C. Mila Getmansky Sherman spent six months at the Securities & Exchange Commission; Nikunj Kapadia spent much of a year at the U.S. Treasury Department's Office of Financial Research.
According to the University of Massachusetts Foundation, the Minutemen Equity Fund (MEF), a portfolio managed principally by Isenberg students, has outperformed rival student-managed funds on the UMass Boston, Dartmouth, and Lowell campuses. During the fiscal year spanning June 2012-May 2013, the MEF returned 15.62% on its portfolio, narrowly topping its closest rival, UMass Lowell. In November, the Foundation will award both funds $5,000 during a gathering in their honor at the UMass Faculty Club in Boston.
Established in 2007 with a $25,000 grant from the UMass Foundation, the MEF currently manages $175,000 in assets. "We're a long-only fund; our number-one goal is to preserve capital," notes its chair, David Nataloni, an Isenberg senior and finance major.