Thursday, April 19, 2012

Follow-up to the 5th annual "Ins and Outs of Wall Street" event

We were very encouraged to see so many Marquette students attending this past weekend's Ins and Outs of Wall Street event on Marquette's campus.  Our hope is that you found value in the presentations and material provided by our alumni during the event. 

We realize there was a lot of information presented on Saturday, so we have posted the materials on the AIM website for your review.   We are hopeful that you will reach out to our alumni with a thank you note or a nicely written email message (especially to those alumni who took the time to speak with you individually).


On behalf of the AIM program, Advancement Office, faculty, and administration at Marquette, we are thankful for the outstanding contributions of our alumni. This group continues to contribute to the University with their time and commitment. This was the best Ins and Outs event to date - a sincere thank you to the contributors and presenters!

Want to Ace Your Next Internship or Job Interview?

Janet Aschkenasy, writing in the NYSSA’s The Finance Professional’s Post, reports that narcissists do much better in job interviews than their less obnoxious counterparts, according to a new study from researchers at the University of Nebraska-Lincoln scheduled to be published in the Journal of Applied Social Psychology.

Technically, narcissism is a mental disorder in which people have an inflated sense of their own importance and a deep need for admiration. Those with narcissistic personality disorder believe that they are superior to others and have little regard for other people’s feelings.

And yet, university researchers point out narcissists’ innate tendency to promote themselves—in part by engaging and speaking at length—which implied confidence and expertise in job interview settings.

“This is one setting where it’s OK to say nice things about yourself and there are no ramifications. In fact, it’s expected,” said Peter Harms, assistant professor of management at the University of Nebraska-Lincoln and a co-author of the new study. “Simply put, those who are comfortable doing this tend to do much better than those who aren’t.”

An announcement from the university explains how researchers engaged in the two-part study examining the effectiveness of the types of behaviors that narcissists exhibit—“which would be typically seen as maladjusted”—in the narrow context of an interview.

In the first part, 72 participants were videotaped in a simulated job-applicant setting. As expected, narcissists were more likely to self-promote; however, it was when expert interviewers challenged applicants that narcissists started behaving in unexpected ways, Harms said. While normal individuals backed off of their self-promotion tactics when held accountable, narcissists actually increased their attempts to make themselves look better.

“When feeling challenged, they tend to double down,” Harms said. “It’s as if they say, ‘Oh, you’re going to challenge me? Then I’m not just great—I’m fantastic.’ And in this setting,” Harms observed, “it tended to work.” In the study’s second part, 222 raters evaluated videos of applicants with similar job skills and varying levels of narcissism.

The raters consistently awarded chronic self-promoters—who spoke quickly and at length and who used ingratiation tactics—such as smiling, gesturing, and complimenting others—with much better evaluations. Equally qualified applicants who were more modest scored lower.

“This shows that what is getting [narcissists] the win is the delivery,” Harms said. “These results show just how hard it is to effectively interview, and how fallible we can be when making interview judgments. We don’t necessarily want to hire narcissists, but might end up doing so because they come off as being self-confident and capable.”

For interviewers, the study’s findings mean they must become aware of the tactics used by narcissists, Harms said, and, if necessary, avoid selecting people who chronically use self-promotion and ingratiation, unless those behaviors are appropriate for the position.

For job seekers, meanwhile, the key takeaway from this report, according to Canada’s Globe and Mail, is that “In job interviews, the rules of normal social interaction get shifted, and people looking to get hired need to view what might be odious behavior in the rest of life as beneficial.”

Monday, April 16, 2012

What a week! The AIM program was on the go....

This was one of the busiest weeks in the 8 year history of the AIM program. As will be documented in upcoming blogs and newsletters, the Marquette AIM students and Dr. Krause were on the go. For instance:
  • Five AIM students advanced to the semi-final round of the CFA Investment Research Challenge in New York City.
  • Matt Rose (Alpha Investment Consulting) and Brady Endl (Marquette University) were guests in Dr. Krause's Alternative Investments class.
  • Six AIM alumni visited Marquette's campus on Friday and participated in Dr. Krause's AIM classes.
  • Five AIM students presented their equity recommendations at Geneva Capital Management on Friday.
  • 26 Marquette alumni had dinner with COBA Dean Linda Salchenberger and Dr. Krause on Friday night.
  • The 5th annual Ins and Outs of Wall Street was held on Saturday
    • 88 undergraduate students attended
    • 32 Marquette alumni were at the event
    • 9 Marquette administrators and faculty attended the day-long event.
  • An AIM impromptu event after the Ins and Outs of Wall Street at a campus watering hole attracted over 50 Marquette alumni and current AIM students.
  • Jason Rector (AIM '09) spoke to Dr. Krause's Alternative Investments and AIM classes
Dr. Krause, AIM director said, "This was an amazing week. It is truly incredible to see the growth of the Marquette finance alumni network the past several years. In the New York area alone we've seen a group of 8 Marquette alumni in 2005 grow to over 150 today. It is hard to thank each and every alumni, but everyone associated with the AIM program and the finance alumni network should be pleased with the successes we've achieved. Thank you all." 


Marquette's chief investment officer, Sean Gissal, honored by Institutional Investor

Sean Gissal, CFA, chief investment officer, has been named the Small Endowment Manager of the Year in Institutional Investor magazine's 2012 U.S. Investment Management Awards. The awards recognize eight U.S. institutional investors whose innovative strategies and fiduciary savvy resulted in impressive overall fund performance.

Gissal, who manages Marquette's $400 million endowment, graduated with a bachelor's degree in accounting from the University of Wisconsin-Whitewater in 1995. He will be honored and awarded at a dinner and ceremony Monday, May 14, in New York. 


Institutional Investor's 3rd Annual U.S. Investment Management Awards recognizes U.S. institutional investors whose innovative strategies and fiduciary savvy have resulted in impressive returns, as well as U.S. money managers in more than 34 asset classes who stood out in the eyes of the investor community for their exceptional performance, risk management and service.


Institutional investor award winners were chosen by the editorial staff of Institutional Investor magazine based on their market intelligence, performance data and additional information received from the industry following a public call for nominations.  Manager winners were also selected by the editors of the magazine based on the results of a survey conducted of U.S. institutional investors.

Also being honored with the 2012 Money Management Lifetime Achievement award is two-time Marquette alumnus Dan Fuss, vice-chairman of Loomis, Sayles & Co. Fuss is a 1955 graduate of Marquette's College of Business Administration and earned his graduate degree from Marquette in 1965.



Thursday, April 12, 2012

The AIM Program's "Ins and Outs of Wall Street" Event Will Be Held on Saturday, April 14th

The 5th annual "Ins and Outs of Wall Street" event held at Marquette University is getting closer. On Saturday, April 14, nearly 30 alumni will be returning to campus to help Marquette's undergraduate students learn about the finance industry and how to obtain internships and career offers.


On Friday, April 13, at least six former AIM students will be returning to campus to be a part of Dr. Krause's AIM classes. The AIM alumni will help critique the reports of the students in the Class of 2013 who are giving their first equity investment pitches on Friday at Geneva Capital Management.


Dr. David Krause, AIM program director said, "This event continues to grow each year. We expect about 100 students to attend the Ins and Outs on Saturday - mainly freshmen, sophomores, and juniors. The alumni who return to campus are doing our students a huge favor and we are grateful for their contributions. The knowledge gained during the Ins and Outs is a large contributor to the success that our students have achieved in the recent years. This will be another outstanding event."   





Congratulations to Marquette's 2012 AIM Team for Advancing to the Semi-Finals of the CFA Investment Research Challenge

NEW YORK—The Marquette University Applied Investment Management (AIM) team advanced to the semi-final round of the Americas Regional of the CFA Institute Research Challenge.  The event was held in at the Hyatt Grand Central Hotel in New York City on April 9 and 10.  

The members of the Marquette University Applied Investment Management team for 2012 are pictured below following their quarter-final presentation. They are (from left to right): Alice Wycklendt, Harrison Davis, Bronson Wetsch, Colleen Osborne, and Jacob Bear. This is the farthest that a Marquette CFA team has gone in the Americas competition – congratulations!





The AIM team’s path to the event began when they defeated four teams in the CFA Society of Madison’s event in March to earn their spot in the Americas competition. On Tuesday, Marquette’s AIM team faced-off against teams from 45 universities in the Americas Region, earning a spot in the Americas semi-finals after advancing through the quarter-final round. They were eliminated before reaching the final round by the University of Hawaii – Manoa. The 2012 CFA Investment Research Challenge global winner, Thammasat University, was determined on April 11 during a competition that included the winners of the Americas, European, and Asian regional competitions.  

During the competition for the CFA Institute Research Challenge title, the AIM team gave an oral presentation that summarized their research and recommendation of The Marcus Corporation (NYSE: MCS), a Milwaukee company operating movie theatres and hotels in the Midwest.  

The team’s research and conclusions were based on interactions with senior executives at Marcus, investment thesis and risks analysis, financial modeling, valuation, comparable benchmarking and scenario creation. All participants were introduced and held to the CFA Institute Code of Ethics and Standards of Professional Conduct.  

The CFA Research Challenge competition is an educational initiative that was established to promote best practice in research among the next generation of financial analysts, and to provide students with an insight into the investment industry. Additional information on the Research Challenge and its participants can be found on the CFA Institute website, www.researchchallenge.org.


Wednesday, April 11, 2012

AIM Student Equity Write-ups - Road Show to Geneva Capital Management on April 13th

On Friday, April 13, another group of AIM students in the Class of 2013 will be delivering their first equity pitches. They will be going on the road to Geneva Capital Management and pitching to their investment professionals. The list of presenters and their stocks are listed below:












A pdf file of the write-ups can be obtained at: http://business.marquette.edu/Content/Uploads/AIM/equity-writeups/4-13-12.pdf



Sunday, April 8, 2012

Americas CFA Challenge Week in NYC

Nearly 50 universities, who each won their regional CFA research competitions, are headed to New York City for the Americas CFA Challenge. Follow the CFA Challenge on Twitter at: https://twitter.com/#!/cfachallenge.


Follow Marquette's team on Twitter at: https://twitter.com/#!/MarquetteAIM