David Hermanny of Wells Fargo Asset Management, Spoke to Students in the Applied Investment Management Program Recently
AIM Alumnus, David Hermanny, Visited the AIM Program on March 6th
|David Hermanny, Wells Fargo Asset Management|
On Friday, March 6, 2020, the students in Marquette’s Applied Investment Management (AIM) program heard from David Hermanny of Wells Fargo Asset Management. David is a Senior Research Analyst on the PMV Cap Equity Funds team.
Wells Fargo Asset Management operates a multi-boutique approach. They believe that their independent, focused investment teams have a better opportunity of generating alpha. The investment teams can focus on investing without the distractions of operating a business.
|David Krause and David Hermanny|
in Marquette's AIM Room
David Hermanny obtained his BS, Finance degree from Marquette University in 2011. He was a member of the Applied Investment Management program and he also studied in Germany during his college experience and obtained a German minor.
David discussed the private market value (PMV) investment philosophy that their team employs. He stated that they believe that public equity markets are laden with emotion, in part, because investors do not control, nor do they have all the information about the companies they invest in. The idea is that successful investing in that environment is a function of conviction in individual securities and diversification across sectors.
He indicated that the team’s conviction comes from an in-depth private market valuation analysis of the business model, key trends, and worth of an enterprise, coupled with a pragmatic assessment of management.
|The AIM Class of 2011|
David Krause, AIM program director added, “David talked about the importance of a firm’s business model, the management team, and key secular trends within their process. This was another example of a fund that employs solid fundamental analysis along with consistent valuation practices.”
“It is important that the students see the value of utilizing a consistent, repeatable and accurate process that incorporates the key elements of fundamental analysis,” Krause said. “David made a strong case for how the PMV approaches can generate alpha.”
Two other AIM alumni are a part of the PMV team – Jillian Morrissey and Joe Bachmann. And over the years other members of the Wells’ team, including portfolio managers, Kurt Gunderson and Theran Motl, have visited the program.