Thursday, March 29, 2012

Access Bernanke's George Washington University Lectures

Today Federal Reserve Chairman, Ben Bernanke, wrapped up his four-part lecture series at George Washington University.

Here is a link to the lecture series including links to videos.

Here are the slides for the lectures:
Lecture 1: Origins and Mission of the Federal Reserve
Lecture 2: The Federal Reserve after World War II
Lecture 3: The Federal Reserve’s Response to the Financial Crisis
Lecture 4: The Aftermath of the Crisis

Ben Bernanke's four-part lecture series was about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures are being offered as part of an undergraduate course Leaving the Board at the George Washington University School of Business.

Live video of each lecture is available to the public at:

Lecture 1: Origins and Mission of the Federal Reserve

Lecture 2: The Federal Reserve after World War II

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

Ins and Outs of Wall Street Event: April 14th

RSVP by April 10th at:  MarquetteBuz/AIM 

Wednesday, March 28, 2012

Multiple visitors to grace the AIM program today

Connor Lawrie
Today AIM program alumnus, Connor Lawrie (MU '09) will visit Marquette's campus to interview potential internship candidates. Connor is a Senior Financial Analyst at National Surgical Hospitals in Chicago. He graduated with a BS in Finance and Economics, and a minor in Political Science. He worked as an investment banking analyst with Cleary Gull following his graduation.

Michelle Picard
Another visitor to campus today is Michelle Picard, CFA (Executive Vice President, Principal, Geneva Capital Management). Michelle will be interviewing AIM students for a potential internship with Geneva, which is located in Milwaukee. An AIM alumnus, Jose Munoz (AIM '11), works as an analyst for the firm.

Shayla Martin
Shayla Martin (Account Manager at Bloomberg, New York) will be presenting in the AIM classes today. Shayla will help the AIM students utilize the portfolio function (PORT). The students in the Class of 2012 will end their management of the AIM Funds on March 31, 2012. During April they will complete their annual report (which contains GIPS-compliant performance reporting) and they will extensively utilize the portfolio performance reportng functions (i.e. attribution and scenario analysis).





Tuesday, March 27, 2012

March 30th AIM Equity Presentations by students in the Class of 2013

On Friday, March 30, the first AIM Equity Presentations by students in the Class of 2013 will be held in the AIM Room beginning at 3:00.

The first set of three stock pitches will last until 3:45, then following a 15 minute intermission the next set of four presenters will begin. To obtain a pdf file of the seven write-ups, click here.

To view all previous AIM student write-ups since the inception of the program, go to the AIM web page "student write-ups section."

Thursday, March 22, 2012

John Malooly of Wasatch Funds Visited the AIM Program

On Wednesday, March 21, John Malooly (MU ’90) visited the AIM program for the seventh time. “John has only missed visiting the Marquette campus once since the AIM program began in 2005,” reported Dr. David Krause, AIM program director.  “It’s always a pleasure to host John – he does an outstanding job in the classroom with the AIM students.”
John Malooly

John is a CFA and has been with Wasatch Funds in Salt Lake City the past 14 years. He is presently a portfolio manager of the Wasatch Ultra Growth Fund (ticker: WAMCX).  He has also been a senior analyst for Wasatch’s Micro Cap Value Fund, Micro Cap Fund, and Small Cap Growth Fund.

During John’s in-class presentations the AIM students asked him questions about small and micro cap investing. Krause added, “The students recognize John as being one of the most well-informed and detail-oriented small cap guests we bring into the program."

Dr. Krause continued, "He has an incredible grasp and knowledge of industries and market news. It seems as if he knows something about almost every name the students ask him about. His intellectual capacity and enthusiasm for the investment business is appreciated by the students. It was again a pleasure to have John visit the AIM program.”

Tuesday, March 20, 2012

Ten Dumbest Things Said During Job Interviews

As students prepare for job and internship interviews, here might be some helpful tips (of things to avoid saying during interviews). The following is from an article titled:  The Ten Dumbest Things Said During Job Interviews by Kelly Eggers(in FINS Finance).

We've all experienced it. That sinking feeling that occurs when the job interview that was going so well suddenly goes off track. Maybe it's the expression on the hiring manager's face, or the awkward pause that ensues, but there is little doubt when it happens.
Common interview mistakes, of course, include bad mouthing your former employer, failing to adequately research the company or the position and just plain talking too much., a job posting site, publishes an annual list of 10 interview blunders, including asking the hiring manager for a ride home or flushing the toilet during a phone interview.
Thanks to the rise of social media sites such as Facebook and Twitter, dumb interview moves are taking on a new character. The urge to share everything about one's life with friends and strangers via cyberspace is invading the very private atmosphere of the recruiter's office. Moreover, the need to stand out in the information cacophony of the Web has increased the pressure to seem unique and special.
We've been socialized to assume that we have to stand out in some way, and we're encouraged to be bold," says Roy Cohen, author of "The Wall Street Professional's Survival Guide" and a New York City-based career coach. "But that is not necessarily what people are looking for in candidates to bring on board. They want people who fit in."
Oversharing has now become an occupational hazard of the job hunt. Here are 10 examples of when too much information was, well, really too much information: 

"My apologies for being late, it happens all the time."
"One individual arrived 20 minutes late for her interview," says Lisa Chenofsky Singer, an executive and career management coach based in New Jersey. While the pair walked to grab the candidate a cup of water, Chenofsky Singer asked how the commute had been. "She in turn told me that her commute was horrid, and she and her husband had fought on who was responsible for dropping their child off at day care," she explains. "I followed up with 'Is this a typical morning?' She replied that this is why she lost her last job, and continued on to tell me that the company had no respect for families."

Not only has the candidate revealed that she's having persistent marital problems, but before she's even sat down for her initial interview, she's indicated that those issues impact her ability to arrive on time to the office, and she expects the employer to be tolerant of it. "You get so much out of a candidate in that short walk to the coffee station. People talk much more informally then," Chenofsky Singer says. "She had such a great resume," but knowing that her client was already frantic, "I knew I couldn't bring more chaos into his life....

To read the rest of the article, go to the following link: The Ten Dumbest Things Said During Job Interviews by Kelly Eggers(in FINS Finance).

Saturday, March 17, 2012

Marquette basketball team is headed to Sweet 16 again!

Jae Crowder
Marquette men's basketball heads to Phoenix! 

Catch Sweet Sixteen fever next week as Marquette advances to the fourth round of the NCAA Championship Tournament on Thursday, March 22, against Florida.

    • Ticket information for the game in Phoenix
    • Game-watching venues near you
    • Social-media chatter
    • Marquette events planned in Phoenix-coming soon!

Friday, March 16, 2012

PIMCO’s Bill Gross: QE3, Inflation, Muted Growth on the Way

Bill Gross of PIMCO's talked yesterday about Treasury Yields, Inflation, QE and the U.S. Economy

Thursday, March 15, 2012

Jim Bianco was on Reuters TV yesterday discussing the Federal Reserve and inflation

Jim Bianco (Bianco Research) has been addressing the issue of inflation lately. Yesterday he was on Reuters TV and indicated that inflation will be a "big problem" for the Federal Reserve. 

View his 6 minute discussion at: Bianco, Thomson Reuters: Reuters Insider

US News & World Report release of 2013 America's Best Graduate Schools

U.S. News & World Report released its full 2013 “America’s Best Graduate Schools” rankings, and programs in Marquette University's Graduate School of Management continue to be well represented among the nation’s leading graduate business schools.
The part-time MBA program at Marquette University is ranked 65th, reflecting a change in their methodology this year. According to U.S. News, the change is “the introduction of the following factors in the part-time M.B.A. rankings, in addition to peer assessments from b-school deans and program directors: the percentage of graduate business students in a school that is part time, as well as entering part-time students' average undergraduate GPA, average GMAT score, and average months of work experience.”
The Marquette Executive MBA Program is ranked #15 and the international programs came in at #22.
While rankings are only one factor we use to evaluate our programs, we will continue to identify and seize opportunities that work to improve our reputation nationally.
To be ranked among the nation’s best graduate business programs is truly a reflection of the talent and dedication to our students that you, the faculty, bring to Marquette every day.  
Linda Salchenberger, Ph.D.
Keyes Dean of Business Administration
Marquette University
College of Business Administration and Graduate School of Management

Tuesday, March 13, 2012

Marquette NCAA game-watching venues (Thursday, 3/15 2:45 pm)

Join fellow Marquette alumni, students, parents and friends at:

Watch with friends and fans as three-seed Marquette takes on fourteen-seed BYU/Iona in round two of NCAA Championship Tournament action from Louisville! Venues listed on the map below offer specials to Marquette fans during tournament games - find a venue near you.   Thursday, March 15, at 2:45 p.m. ET

Click on the map below to find a Marquette viewing location near you:

AIM Investment Forum 2012: Final Wrap-Up

Dr. Krause, Jim Bianco, and Brian Hellmer
The fifth annual AIM Investment Forum and reception was held on Thursday, February 16, 2012, at Marquette University’s Weasler Auditorium. The AIM Investment Forum and reception are among the major activities of the year for the Applied Investment Management program. The AIM Forum is a reservation-only event that typically includes over 150 guests (including students, alumni, and Friends of the AIM program).

Dr. Michael McMillan
Dr. David Krause, AIM program director, served as the Forum moderator. As in previous forums, this year’s AIM Investment Forum was conducted in a format similar to the Davos World Economic Forum.  Dr. Krause engaged an open conversation with the special guests (Jim Bianco President of Bianco Research, John Davis Professor of Economics at Marquette University, and Brian Hellmer Director of the Hawk Center at the Wisconsin School of Business).  Michael McMillan, Director of Ethics and Professional Standards at the CFA Institute added a new element to the forum this year with his interactive ethics and professional standards presentation.

Krause, Bianco, Hellmer, and Dr. Davis
 The AIM Investment Forum is designed to provide a lively discussion of the current issues impacting the U.S. and global financial markets. The topics in the past have been wide ranging and members of the audience are also able to interact and ask questions of the panelists.

The 2012 AIM Investment Forum began with the five AIM students representing Marquette in the CFA Institute’s Investment Research Challenge presenting their stock – The Marcus Corporation (ticker: MCS) [see previous blog entries]. This was followed by a short question and answer session where the students talked about their equity research process and the mechanics of the CFA IRC Challenge. Following the panel discussion, Dr. McMillan (Director of Ethics, CFA Institute) delivered a presentation on the role of ethics in the investment industry.

Dr. Krause said, "The students were impressed by this year's AIM Forum panelists and the presentation by Dr. McMillan. I know that they will remember this event as one of the highlights of their involvement with the AIM program. It was again a successful event and it was great to see so many of the AIM alumni returning to campus. Thanks to everyone who participated."

Saturday, March 10, 2012

AIM Newsletter: Spring Break 2012 Edition

Applied Investment Management Program at Marquette University
The AIM Class of 2013 will make their first equity presentations after spring break
The newest group of students in the AIM program (Class of 2013), will be conducting their first equity analysis and presentations following spring break. There will be a total of five sets of AIM equity presentations, both in the AIM Room (4th floor of Straz Hall) and on the road.

Information about the three ‘in-house’ presentations, which can be attended in person or via video conference, are presented below:
                 Friday, March 30th
                    - Click for Video Conference Link
                 Friday, April 27th
                    -Click for Video Conference Link
                  Friday, May 4th
                    - Click for Video Conference Link
Note:  The video conference link will take to you the Blackboard Collaborate session which is exclusively used for the AIM student presentations on the specified date and time noted above.

The two remaining AIM ‘Road Shows’ are scheduled as follows: 
  • Geneva Capital Management (Milwaukee) Friday, April 13th 
  • Timpani Capital Management (Milwaukee)  Friday, April 20th 
The student write-ups of their equity presentations will be available to view and download on the AIM website several days prior to the scheduled presentation. 
AIM Students Completed a Successful Visit to Chicago 
On Friday, March 2nd, Dr. David Krause (AIM program director) and the students in the AIM Class of 2013 visited Chicago. Despite the forecast for an early March snowstorm, the students departed Milwaukee before dawn. Dr. Krause and the AIM students were accompanied by Brady Endl (AIM program Graduate Assistant), Mike McGuire (MSAE student), Sarah Smith (Marquette Advancement), and George Koonce (Marquette Advancement).

The first stop was at Ziegler Lotsoff Capital Management. The investment professionals at Ziegler Lotsoff and the AIM students met in the board room and Dr. Krause provided an overview of the AIM program. Four students (Elizabeth Buckton, Brent Adams, Yatina Liu, and Varun Varma) then made their first equity pitches. Ten investment professionals at Ziegler Lotsoff Capital Management (20 N. Clark Street) attended the student presentations and asked questions. They also offered valuable comments and suggestions following the students’ stock pitches.
Don Nesbitt, CFA, (Managing Director and Co-Chief Investment Officer – Equities) and Mark Burka, CFA, (Senior Vice President, Portfolio Manager) provided particularly valuable commentary to the students about the equity research process. Dr. Krause said, “We will be certain to host these two experienced and seasoned investment professionals in the AIM room soon – their comments resonated with the students. The value of visiting investment professionals at their firms was again evident.”
Dr. Krause said, “This was the AIM program's second visit was to Ziegler Lotsoff and it was again a success. The students and investment professionals had a productive discussion about the best practices of successful investment research and professional presentations. We are thankful to our hosts: Scott Roberts (President  & CEO), and  Maggie Baer (Managing Director and Chief Administrative & Operating Officer). We look forward to future visits.

The students then traveled to Loop Capital at 200 W. Jackson Blvd.  They had an opportunity to meet and visit with Albert Grace, Jr. (Co-Founder and President) and several of his associates (Paul Bonaguro, Eric Lane, and Booker Whitt). In addition, Paul King of Northern Trust also attended the meeting, which was held in Loop Capital's executive board room.
The four AIM students again had the opportunity to present their first AIM equity recommendations (click table below).

Dr. Krause commented, "The students did an outstanding job pitching their stocks. What was most impressive is that these are the juniors in the AIM program - they have literally been in the AIM Room less than two months and they are already doing professional level analysis and presentations in executive board rooms. I was very pleased with the questions and comments from the professionals that joined Mr. Grace to hear the student presentations."
The students were then treated to a tour of Loop’s trading floor. Dr. Krause commented, “We are very appreciative of the opportunity to meet with Mr. Grace and his associates. Loop Capital is an impressive firm and the AIM students enjoyed the opportunity to meet with some of the traders and investment professionals. It was a wonderful visit.”  Dr. Krause added, "We are grateful to Raullo Eanes (Wintrust Financial Corporation) for arranging the visit to Loop Capital."

The third and final investment firm that the AIM students visited was BMO Capital Markets at 115 S. LaSalle. Marquette alumni David Kucera (Managing Director and Head of U.S. Securitization) and Steve McManaman (Managing Director, Financial Products) arranged the visit and gave the students an excellent update on the capital markets and the securitization process. The visit concluded with a tour of the BMO’s massive trading floor.

Students in the AIM Class of 2013 Seeking Summer Internships
The spring semester is moving along very quickly and the newest group of AIM students (Class of 2013) have completed their resumes and begun the search for a summer internship. The AIM program provides students with opportunities to visit financial institutions, gain practical experience, and draw valuable skills from industry professionals through summer internships.  These internships also provide the chance for students to rigorously apply their developing financial skills in the real-world situations. Many career opportunities have been launched as a result of these high quality internships.

The AIM program provides employers with bright, educated, and motivated investment research and asset management professionals.  AIM Director, Dr. Krause, said, "The AIM program is very grateful to the many financial firms who partner with us in providing internships and career opportunities for our students."
The mission of the AIM program is to provide Marquette University’s undergraduate students the opportunity to integrate the financial principles they learn in the classroom along with relevant internships and investment experiences so that they may become proficient and ethical investment professionals.  According to AIM Director, Dr. David Krause, “One of the best ways to fulfill the AIM mission is provide students with high quality finance internships during the summer between their junior and senior years.”
If you want additional information about the process of hiring an AIM summer intern or would like to view the resumes of the students in the Class of 2013, please contact Dr. David Krause at

AIM Class of 2012 Career Placements
According to AIM Director, Dr. David Krause, “We have been true to our mission which I believe has allowed us to achieve an outstanding placement record for our AIM students over the years. I think that the academic rigors of the program - combined with real world experience - give our students an edge in the marketplace when they are competing for internships and career placements.”

Students graduating with a Bachelor of Science in Business Administration degree in finance from Marquette University have successfully competed in the world of finance for the past 100 years. Dr. Krause commented, “The AIM program goes one step beyond a traditional finance major by providing a balance of theory and practical applications which helps to facilitate our students’ transition from the classroom to the workplace. To me, applied education makes a lot of sense for students and prospective employers.”
Career opportunities for students majoring in finance and participating in the AIM program include:  security analysis, corporate treasury operations, risk management, credit analysis, consulting, investment banking, mergers and acquisitions, sales and trading, commercial banking, private equity, and financial wealth management. “AIM graduates are working across the United States, and for that matter, around the world,” Dr. Krause stated. “Our AIM alumni are finding success in all areas of finance.”  If you have a career opportunity and are interested in viewing the resumes of our students, please contact Dr. Krause at

Fifth Annual Ins and Outs of Wall Street Returning in April
On Saturday, April 14th, Marquette University's Applied Investment Management Program is sponsoring the "Ins and Outs" of Wall Street.  This annual event provides an opportunity for our alumni to share their personal experiences, including the best ways to prepare for "Wall Street" interviews and how to grow a career in the current competitive financial environment.  Alumni from companies such as R.W. Baird, Bank of America, Citigroup, JP Morgan, Morgan Stanley. Lazard, and Wells Capital Management, will be participating.

Dr. Krause said, "This is a very important session that all finance majors at Marquette should attend.  These professionals from many major financial institutions will offer insights into the recruiting process followed a networking opportunity. This is an outstanding event and one that students should take full advantage." For more information about the event, please follow this link:  Ins and Outs of Wall Street.

The AIM Program Activities in January and February 2011
The spring semester has been busy for Dr. David Krause and the students in the AIM program. A total of five sets of AIM student equity presentations were held (including three off-campus) during the first two months of the semester. There were numerous other AIM-related events during January and February:
•  Dr. Krause traveled to Seattle where he visited with alumni at Cascade Investments and Microsoft
•  Tom Digenan (UBS, Chicago) visited with Dr. Krause to prepare for the MBA Investments course he is teaching this semester
•  Shayla Martin (Bloomberg, New York) visited the AIM classroom to help students with new functions and applications
•  Dr. Krause and nearly 20 students attended a CFA Society of Milwaukee luncheon that featured Dan Fuss (Loomis Sayles, Boston) 
•  R.W. Baird held an information session on Marquette’s campus that was sponsored by the Financial Management Association and the AIM program
•  Drs. Suk Hun Lee and Nenad Jukic of Loyola University Chicago visited the AIM program and interacted with the student during in-class equity presentations
•  Hosted a “meet & greet” session for local investment companies
•  Jim Bianco (Bianco Research, Chicago) delivered a lecture to the AIM and FMA students at the Raynor Library
•  Raullo Eanes, Michael Cherwin, and Debbie O’Malley (Wintrust, Chicago) visited with Dr. Krause about career and internship opportunities
•  Met with Ethan Matter and Tim O'Donnell (Lazard, Minneapolis) 
•  Conducted a field trip with the AIM students in the Class of 2013 to Mason Street Advisors (Milwaukee)
•  Held an ‘open house’ for freshmen and sophomores interested in learning more about the AIM program
•  Hosted Brenda Campbell (Make a Difference, Milwaukee) to meet with the AIM students about the high school financial literacy program
•  Met with Mark Zellmer (Northern Oak, Milwaukee) to discuss curriculum and student internship opportunities
•  Met with Daniel Geigler (Morgan Stanley, Milwaukee) and Dr. Sarah Peck about applied student learning opportunities
•  Brought Barrett Willich (Winona Capital Management, Chicago) to speak in Dr. Krause’s Alternative Investments and AIM classes
•  Craig Vanucci (Ziegler Lotsoff Capital Management, Chicago) visited the AIM program to lecture on modern portfolio risk management practices
•  Met with Mr. Dick Pieper (Suzanne and Richard Pieper Family Foundation, Milwaukee) to discuss a student learning opportunity
•  Hosted the 5th annual AIM Forum that featured Jim Bianco, Brian Hellmer (University of Wisconsin-Madison), and Dr. John Davis (Marquette University), and Dr. Michael McMillan (CFA Institute, Charlottesville, VA)
•  Traveled with thirty students to R.W. Baird for a set of AIM equity presentations and a ‘meet & greet’ session with investment professionals
•  Attended the Business Leaders Forum luncheon with Chris Swain (Mason Street Advisors, Milwaukee)
•  Hosted Keith Hanson (State Teachers Retirement System of Ohio, Columbus) as a guest speaker in the AIM classes
•  Frank Burgess (Madison Investment Advisors, Madison) delivered a lecture to the AIM and FMA students in the AIM Room
•  Five AIM students participated and won the CFA Society of Madison’s Investment Research Challenge
•  Five students presented their equity recommendations at the Heartland Funds (Milwaukee)
•  Dr. Krause, Brady Endl, Tom Kelly, and Rupali Varma updated and presented an investment policy statement to the investment committee members of the Milwaukee Repertory Theater
•  Dr. Krause chaperoned thirty students to Chicago where investment company visits included: Ziegler Lotsoff Capital Management, Loop Capital Management, and BMO Capital Markets. Five students in the Class of 2013 successfully completed their first equity presentation.
In short, the AIM program has begun the first two months of 2012 with an aggressive schedule. Dr. Krause stated, “We have five more sets of equity presentations scheduled in April and May, including visits to Timpani Capital Management, Geneva Capital Management, and three sets of internal presentations in the AIM Room. Additionally we have many more speakers scheduled for the remainder of the semester. We will also be hosting the fifth annual Ins and Outs of Wall Street session on April 17th. We're off to a strong start to the semester and I know we’ll end on a high note."
To learn obtain more detail about recent events in the AIM program; check out the AIM program blog.

The Fifth Annual AIM Forum 
The fifth annual AIM Investment Forum and reception was held on Thursday, February 16, 2012, at Marquette University’s Weasler Auditorium.  
The AIM Investment Forum and reception are among the major activities of the year for the Applied Investment Management program. The AIM Forum, is a reservation-only event that typically includes over 150 guests (students, alumni, and Friends of AIM). 

Dr. David Krause, AIM program director, served as the Forum moderator. As in previous forums, this year’s AIM Investment Forum was conducted in a format similar to the Davos World Economic Forum.  Dr. Krause engaged an open conversation with the special guests (Jim Bianco President of Bianco Research, John Davis Professor of Economics at Marquette University, and Brian Hellmer Director of the Hawk Center at the Wisconsin School of Business).  Michael McMillian, Director of Ethics and Professional Standards at the CFA Institute added a new element to the forum this year with his interactive ethics and professional standards presentation.
The AIM Investment Forum is designed to provide a lively discussion of the current issues impacting the U.S. and global financial markets. The topics in the past have been wide ranging and members of the audience are also able to interact and ask questions of the panelists.

Contact info:

Dr. David S. Krause, AIM Director
Straz Hall, 436
PO Box 1881
Milwaukee, WI 53201


Website:  marquette/
Blog:  AIM Program Blog
Twitter:  Marquette AIM
Facebook:  Marquette AIM

Copyright (C)  2012 Marquette University Applied Investment Management All rights reserved.