Investment Club Takes Manhattan
On April 13th, members of the Endicott College Investment Club traveled to Manhattan for their 2nd annual Wall Street trip.
The investment club, “ECIC,” is a group of students who actively manage a portfolio of $100,000. Students formulate investment strategies and make recommendations to buy/sell/hold different securities. Led by faculty advisor Bob Chambers, the club has seen a great deal of success over recent years.
“It’s the second year we’ve done the trip and it has been a great way to see what Wall Street is truly like,” said Seth Monbleau, U.S. Equity Analyst for ECIC. “It was originally a trip planned to network with industry professionals, but we got so much more out of the trip and I think it motivated a lot of students to launch a career in finance.”
Students started the day by going on a financial crisis tour, where they learned about the history of Wall Street and the causes of the subprime mortgage crisis. They then traveled to Knight Capital Group where they spoke with the Steve Kukan, Head of Retail Trading. KCG is on the forefront of electronic trading and a leading high frequency trading firm.
“In recent weeks their [KCG] practices have come under a lot of scrutiny. It was neat to hear opinions if they thought they posed a systematic risk to the markets” said Chris Sears, Portfolio Manager for ECIC.
The trip concluded with a visit to SMBC Capital Markets, a large Japanese investment bank. Members learned about derivative products and how they are used for different hedging and speculating purposes. An internship opportunity opened up for an ECIC member to join SMBC during the summer of 2015.
“We have a special group of students who show a keen interest in financial markets,” said Bob Chambers, Faculty Advisor for ECIC.
Mark Stearns, President of ECIC, said, “There is a long list of people I would like to thank for making this happen. It starts with Lynne O’Toole, Dr. Wylie, Sreya Shepard, Professor Chambers, and Kelcey Trecartin. Giving students the opportunity to leverage in class knowledge with real life experiences is what this college is all about.”