Mike
Klenn of Timpani Capital Management visited the AIM program today. Timpani is a
Milwaukee-based investment manager focused on small cap growth investing. Information about Timpani can be found
at: http://www.timpanicapital.com/.
Mike Klenn, CFA, is a Senior Analyst at
Timpani. Prior to joining Timpani, he was a member of the Applied Investment
Management Program at Marquette University running a portion of the endowment.
He also interned at Timpani during his senior year of college. He received his
B.S.B.A. in Finance from Marquette University and has earned the right to use
the CFA designation.
Mike
talked about Timpani’s investment philosophy. They believe that earnings drive
stock price performance. By combining fundamental research with an analysis of
estimate revisions, they believe they can identify and exploit the perception
gap that exists between a company's business strength and the market's
expectation of that strength. They add exposure to stocks where growth is being
underestimated, or where there is a positive perception gap and we reduce
exposure to stocks where growth is being overestimated, or where there is a
negative perception gap. Perception gaps exist because the market is slow to
react to incremental, relevant changes in a company’s fundamentals.
Later
this semester, AIM students will conduct a ‘road trip’ to Timpani where they
will pick stocks to the firm’s investment team (Brandon Nelson, Ryan Isherwood,
and Mike Klenn).
