New course this fall: BUAD 2930 Special Topics in Business: The Investment Industry (3 credits)

Dr. David Krause has created a new course that will be offered this fall at Marquette University. The course is: BUAD 2930 - Special Topics in Business: The Investment Industry (3 credits). 

Class#  Subj.#                  Title 

6301      BUAD 2930-101  The Investment Industry

This is a non-quantitative survey course of the investment industry with the objective of providing a clear understanding of investment industry fundamentals. The curriculum is aimed at non-business students who have an interest in investments, including those who may wish to enter the financial services industry and those who are already working within it. The underlying curriculum, known as the Claritas Program®  (http://www.cfainstitute.org/programs/claritas), was developed the CFA Institute® with the goal of helping to shape a more trustworthy financial industry by setting new standards for investment education and ethics.

Offered online, this is a non-quantitative course provides an overview of the essentials of the investment industry. Topics include the types and characteristics of financial securities, investment industry structure and controls, and ethics and regulation. Includes an introduction to the essential business areas of accounting, macroeconomics, microeconomics, international trade, and statistics. Designed to prepare students to sit for the Claritas® Investment Certificate exam. Not offered as a business course for credit for business majors. Grading: Satisfactory/Unsatisfactory. Prerequisites: Sophomore standing.

For additional information, please contact the instructor:

David S. Krause, PhD
Director, Applied Investment Management Program
Marquette University
College of Business Administration, Department of Finance
436 Straz Hall
Milwaukee, WI  53201-1881
Telephone: (414) 288-1457  

E-mail:  david.krause@marquette.edu

AIM Class of 2017 Applications Due on Friday, September 11

Attention Marquette University's finance students class of 2017!
Applications for AIM are now live!

The following provides a brief description of the AIM program's application process. Completed applications and all required information are due by Friday, September 11th.  NOTE:  Students studying abroad must submit their application two weeks prior to their international study schedule. Interviews for students studying abroad will be set-up in person this summer or telephonically during the fall semester of the student’s junior year.  Notification of acceptance for all students applying to the program will occur before the fall advising session. 

Acceptance into the AIM program will be based on the following:
* Grades earned up to the beginning of the fall semester of the junior year (minimum GPA of 3.0 required)
* Electronic application form (found at AIM website like below)
* MU Graduation checklist (upload with application form)
* Resume (upload with application form)
* Application essay (upload with application form)
* Two letters of recommendation (sent by recommendor via mail, email or fax)
* Interview with Dr. Krause (scheduled week of 9/21-25) as first come first serve, after you submit completed application information)
A successful AIM applicant will have a strong intellect, an active curiosity about business and the finance industry, a demonstrated record of academic achievement, a well-conceived plan for their future, and good communication and analytical skills.  Candidates will have the opportunity to demonstrate these traits through their academic record, resume, essay, letters of recommendation, and an interview.

The application process is completely electronic (except the letters of recommendations).  To find out more about applying to AIM, visit the website at: marquette.edu/aim.

Important Dates of Interest (** 3 required dates below)

* Friday, September 4^th, AIM Open House 2:00-3:00
** Friday, September 11^th, Application Info Due
** Interview with Dr. Krause (date range September 21-5 one 15 minute interview)
** Saturday, October 3rd, AIM Super Saturday,
     8:00 am-Noon AIM Interviews
      (plan on entire morning)

Krause's Belmont Stakes Picks for 2015

This is it --- our first Triple Crown winner in nearly 40 years! I successfully called for American Pharoah (AP) to win the Kentucky Derby and the Preakness Stakes – and now I believe he is going to finish the deal. It won’t be easy because the 3-year olds this year are stronger than past years. AP also has history against him as (by my count) twelve horses since the last Triple Crown winner (Affirmed in 1978) have won the first two legs, only to lose at Belmont.

Winning the Belmont Stakes is difficult because of the long distance (1 ½ miles), the timing of the race (only three weeks after the Preakness), and the crowd (NYC races fans are loud, boisterous, aggressive and right in the horses' faces --- just like you’d expect from New Yorkers). I do think that AP’s trainer, Bob Baffert, and jockey, Victor Espinoza, are up to the challenge to achieve horse racing immortality. Despite Espinoza falling short of the Triple Crown twice (on War Emblem and California Chrome), he talks with confidence about American Pharoah’s poise and determination.

This is a strong field – and not a sure thing for AP (despite the ridiculously low odds) – so enjoy the Belmont and I believe you’ll be witnessing history or Saturday afternoon.

  

Best of the Field:  #5 American Pharoah (3-5 odds)  

As I wrote for my Kentucky Derby and Preakness articles, this is the cream of the crop.  I believe that this horse has the heart of Seattle Slew (1977 Triple Crown winner) and will do whatever it takes to win. He won’t set records (like Secretariat’s 31 length win at Belmont in 1973 as he won the Triple Crown), but he knows how to win. The odds are not favorable, so you might have a souvenir with your $2 win ticket, but you need to include American Pharoah at the top of your exotics. (Baffert and Espinoza finally get their Triple Crown).

Value Horses:  # Frosted (5:1 odds) and # 8 Materiality (6:1 odds). I had both of these horses as ones to watch during the Kentucky Derby --- and I feel the same way about them in the Belmont Stakes. Frosted finished a charging fourth and didn’t race in the Preakness – he should be fresh. He’s a NY horse who is familiar with the track --- and he won this year’s Wood Memorial at Aqueduct in NY. Frosted is jockeyed by Joel Rosario (a proven winner), who knows the horse and will keep him back early in the race. Watch for him to come on strong down the long home stretch – he could make it close! Rosario knows how to win the big races.

Starting in the 8th position, Materiality, trained by Todd Pletcher and ridden by John Velazquez could also be in the money. This is the horse that didn’t race last year; however, he got off to a great start this year (and with huge speed figures) and finished a respectable sixth in the Derby. He has tons of speed and could run hard at the beginning – forcing American Pharoah into an uncomfortable pace. He also skipped the Preakness. He has one of the top trainers and a great jockey --- if there were to be a wire-to-wire winner in the Belmont (which is rare), this would be the horse.

Betting: Pairing up the horses above into an Exacta box could be a nice play or keying American Pharoah with the other two horses in a Trifecta bet could provide an attractive ROI.  In any case, bet responsibly and enjoy watching history being made at this year’s Belmont Stakes. I'll be cheering on American Pharoah.

Marquette University's AIM Class of 2015 Graduated on Sunday, May 17, 2015

Education is the best provision for old age.
-Aristotle
I have never let my schooling interfere with my education.
-Mark Twain
If you aren’t fired with enthusiasm, you will be fired with enthusiasm.
-Vince Lombardi

AIM Class of 2015

The AIM Class of 2015 will always be a special one --- it was the ‘bubble’ class and it also had 10 international students. Two years ago a record number of 67 students applied to the program and on Sunday more than 40 AIM students participated in Marquette University’s graduation ceremonies (with several others scheduled to graduate in August or December). This group of students is the tenth class to graduate from the AIM program; a significant milestone.

By all measures this has been another successful year. The students in the AIM Class of 2015 had meaningful internship experiences and they soon will be starting their careers at various financial firms across the globe.  Also, many of them are busy preparing to take the Chartered Financial Analysts (CFA) Level I exam on the first Saturday in June. Like all of the other AIM classes before them, I know they will do well – and I have truly enjoyed working with them.

The students in the Class of 2015 inherited three investment portfolios: the small cap domestic equity; international equity; and fixed income fund. These students worked hard and generated good results in the three funds they managed. The students encountered unique challenges as the financial markets continued to rebound from the Great Recession – with the international stocks especially tricky to manage during the past year. Nevertheless, they maintained their composure and managed the AIM Funds as true professionals.

As always, it has been a rewarding year for me working with the students in the AIM program. In addition to being intellectually curious and hardworking, the Class of 2015 was deeply committed to the responsibilities associated with administering the student-managed funds. Despite the ongoing uncertainty of the global investment climate, we are confident that the AIM Funds will continue to provide invaluable opportunities for learning as students in future classes apply their hand to managing a portion of Marquette’s endowment funds.

Marquette University Commencement 2015 

Congratulations to the students who graduated at Marquette's Commencement on Sunday, May 17, 2015. We wish not only to recognize the achievements of our graduates, but also to acknowledge parents and others for their cooperation and support.

This was a highly talented group of students who worked hard right up until the end of their senior year. While some of these students received significant honors and awards, all of them are special and have unique talents. They worked exceedingly hard during the past two years since they were admitted to the AIM program and we wish them all best of luck. 

The following table contains information about the AIM students in the Class of 2015. 

 

 

AIM Class of 2015	Honors	Graduation
Dan Alon		May
Richard Bernard		December
Brandon Cloete		December
Thomas Desmond		May
Thomas Dickinson		May
Patrick Doyle		May
Haney Fam		May
Vanessa Foltinger		December
Patrick Hart	Cum Laude,  *	May
Joe Hodes		May
Charles Houser	*	December
Dustin Hwang		December
Alaa Ibrahim	Cum Laude	May
Alex Isken		December
Cole Johnson	Summa Cum Laude,  *	May
Berent Kowarick		May
Kevin Lane	Cum Laude	May
Kyle Lawrence		May
Jing Liu		August
Patrick Lonzo	*	December
Mary McNellis	Magna Cum Laude,  *	May
Mark Messier		May
Andrew North	Magna Cum Laude,  *	May
Jeremy Poppe		May
Monica Raciti	Magna Cum Laude	May
Jaime Rehm	Cum Laude,  *	May
Mariano Sanz	Cum Laude	May
Alex Schmidt	Cum Laude	May
John  Schneider		May
Jordan Schumacher		May
Rushi  Shah		May
Connor Showalter		May
Joe Simonelli		May
Michael Stankovsky	Magna Cum Laude,  *	May
James Stark		May
Jack Sullivan	Magna Cum Laude	May
Chris Swanson		May
Christopher Swift		December
Mitchell Swirth		May
Hendrik van der Zandt		May
Zhe Wang	Cum Laude	May
Blake Weir		August
Anne Wiesman	*	December
Autsin Wilson	Magna Cum Laude	May
Kurt Wittmeyer	Cum Laude	May
Wen Yang	Cum Laude,  *	May
Stefanie Yordan	Cum Laude	May
Jiajun Zhou	Cum Laude,  *	May
* Membership in Beta Gamma Sigma

Krause's 2015 Preakness Predictions

Here are Dr. Krause's 2015 Preakness picks. Like the 1^st leg of the Triple Crown two weeks ago, this  is a strong field with several top Derby horses making the trip to Baltimore’s Pimlico race track. This should be an interesting race.

Best of the Field: #1 American Pharoah (2:3 odds) was my Derby pick and he did not disappoint, running a nearly perfect race in Louisville. He’s a big favorite entering Pimlico and for good reason – he’s trained by Bob Baffert and ridden by Victor Espinoza.  The Triple Crown is no guarantee for AP because there are a number of world-class horses capable of beating him this Saturday – such as Dortmund, who starts in the 2^nd post. With only two weeks between the Derby and Preakness, he seems to have plenty of gas in the tank and is the obvious favorite at 2:3 odds. With these poor betting odds I’d avoid a straight WPS bet - nevertheless, he should be included in your exotic wagers. AP still looks like the winner to me and I’ll be cheering for him on Saturday. Note: Dortmund is American Pharoah’s biggest threat - and is also worth including in any exotic betting.

Value Horse: #4 Danzig Moon (14:1 odds). Danzig Moon ran a creditable race in the Kentucky Derby to finish 5^th in the field of 18 thoroughbreds; 6 lengths behind American Pharoah. This horse has improved with each race and could end up in the money – with a big payout given the long odds. An Ontario-bred horse, trained by Mark Casse and ridden by Julien Leparoux, both solid records of success.  The son of Malibu Moon, sire of 2013 Derby winner Orb, Danzig Moon continues to improve and makes for a strong WPS bet at the big odds. With the smaller field, the 4^th post isn't a bad starting position for Danzig Moon.

Long Shot: #7 Divining Rod (14:1 odds).  Divining Rod is well rested since he didn’t run in the Kentucky Derby. He won the Lexington Stakes in Keeneland back in April before skipping the Derby. Not only has it been more than a month since he's raced, but he’s coming off a victory and has top-three finishes for all five races of his career. This will be trainer Arnaud Delacour's first Preakness and while a jockey hasn't yet been announced, Delacour will have his pick of some of the top jockeys. (Julien Leparoux, who has ridden Divining Rod previously, jumped ship to ride Danzig Moon in the Preakness. While he’s a long-shot, he has shown continual improvement and is worth a WPS and looks like a good pick underneath American Pharoah and Danzig Moon in your exotic wagers.

Good luck!