1st-year Cayuga Fund Research Analyst Program

NBA 5250 Syllabus: Cayuga Fund Equity Analyst course

Instructor: Scott Stewart, Clinical Professor of Finance and Accounting
Pre-requisites: Successfully participate in summer research prep program, Stock Pitch Camp, The Pitch weekend or prospectus test; and application process (managed by IMC and overseen by Scott Stewart)

Course Description:

First year students interested in fundamental research begin their training in the summer and fall of their first year by pursuing the summer prep program, one-day Stock Camp, the September Pitch weekend, participating in the Investment Management Club and working on their own, in addition to completing coursework in finance, accounting and management. In early October they apply for participation as First Year Cayuga Fund Analysts. They are only accepted after demonstrating strong interest in investment management and commitment to supporting the Fund.

Students must complete several assignments to earn course credit. Note that students who wish to pursue training in quantitative or other techniques may complete different assignments. Students may work in teams of two or three (two or three per sector).

  1. Prepare a draft industry review
  2. Participate in at least one sector team or portfolio team meeting
  3. Participate in at least one Fund call
  4. Attend Fund annual review meeting
  5. Review 2nd years’ fundamental stock picks and assume responsibility for monitoring 2-4 over the summer

Learning objectives:

Students who successfully complete the course will learn

  • From the industry review experience, to 1) develop a business analysis of an industry using primary sources such as 10-K reports, 2) explore how stocks within an industry are valued, 3) define an investment thesis and 4) present and defend a thesis.
  • From other activities, learn to be part of an investment team and share investment ideas.

Evaluation methods and plan for grading:

  • Class participation (50%): students will be assigned to a sector team.Sector team leaders will monitor participation and report observations to faculty.
  • Final presentation (50%): students will prepare a summary of their industry review, present it to the Cayuga Fund class and successfully respond to questions.This will be evaluated by faculty.

Note: This course will generate a pass-fail grade.

Planned final deliverables and timing:

  • Attendance at 4-5 classes, time to be set in January
  • Submission of a draft industry presentation document by the end of March
  • Participate in team meeting and/or Fund call by end of April
  • Complete the industry review presentation and submit a list of 2nd year stocks to monitor by semester-end 2018 Sector Assignments