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McIntire Investment Institute At the University of Virginia

McIntire Investment Institute At the University of Virginia. Introduction to MII Fall 2009. Prepared by MII Managers | 27 August 2009. Agenda. Introductions MII overview Portfolio & Semi-Annual Report Opportunities for Involvement MII Code of Conduct Website and Collab. Introductions.

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McIntire Investment Institute At the University of Virginia

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  1. McIntire Investment Institute At the University of Virginia Introduction to MII Fall 2009 Prepared by MII Managers | 27 August 2009

  2. Agenda • Introductions • MII overview • Portfolio & Semi-Annual Report • Opportunities for Involvement • MII Code of Conduct • Website and Collab

  3. Introductions • Faculty advisor: Professor DeMong • Long-fund managers (year): • President: RahulGorawara(4th) • Vice President: Paul Chen (4th) • Chief Financial Officer: James Rogers(3rd) • Chief Information Officer: ManujJindal(4th) • Chief Marketing Officer: Mike Nugent(4th)

  4. Introductions • Short fund managers (year): • Adam Wangner(4th) • Hunter Armistead(4th) • RobelChiappini (4th) • Pete Peterson (4th) • Ryan Comisky(3rd)

  5. MII Overview • An entirely student-run long/short equity portfolio • AUM today is $420,000+ • Positions researched and presented by students • Participate in competitions and conferences • Goals: • Achieve real capital appreciation through a variant perception of the market • Provide education in equity analysis and portfolio management

  6. MII History • Founded by John Griffin (McIntire ’85, President of Blue Ridge Capital) • Received $100,000 in October 1994 • Received additional $200,000 in 2000 • Three Donations since Inception ($150,000) • Last donation was April 2006, $75K to sponsor room in new McIntire building on the Lawn

  7. MII Investment Strategy • Long good companies and short bad companies • Value Added Research (VAR): • Core research philosophy • Gain an edge in investment theses through: • Being creative • Testing a company’s products or services • Contacting stakeholders (including customers, suppliers, competitors, experts, etc.) • Not listening to market “noise”

  8. 2009 YTD performance • MII YTD performance 15.3% • S&P 500 YTD performance: 13.8% • Spread: 1.4%

  9. Portfolio changes

  10. Semi-Annual Report

  11. Opportunities for involvement • Benefits of MII involvement: • Gain real-world investing education and experience • Platform for future management position • Improve presentation skills • Useful for interviewing • Social events

  12. Code of Conduct • MII and its student members agree to perform the activities (as described in the Charter) responsibly and consistent with University, Foundation, and McIntire School of Commerce policies and applicable law • MII doesn’t discriminate in anyway • See website for complete Code of Conduct

  13. Membership Application

  14. Opportunities for involvement • Positions for involvement: • Long-fund manager • Short-fund manager • Associate • Analyst (Analyst Program) • Member

  15. Long-fund Managers • Five person investment committee • Make decisions for all positions in the portfolio • Responsible for MII meetings & operations • Must pitch at least one long idea each semester • Candidates are strongly encouraged to: • Demonstrate regular involvement • Make quality investment pitches with attention to VAR • Elections are held in early December

  16. Short-fund Managers • Committee that oversees the short portfolio • Must pitch at least one short idea each semester • Candidates are strongly encouraged to: • Demonstrate regular involvement • Make quality investment pitches with attention to VAR • Elections are held in April

  17. Associate position • New opportunity for member involvement • Conduct due diligence on analyst presentations and present their analysis at management team meetings • Submit bi-weekly updates on assigned portfolio position(s) • Must have presented at an MII meeting or submitted a memo to the management team

  18. Analyst Program • All analysts will be paired with a manager: • Assist with idea generation • Offer guidance for research • Provide direction for VAR • Explain the PowerPoint presentation process • Check the presentation for requirements • Star Analyst Award • Contact Paul Chen (yc6k@virginia.edu)

  19. Requirements for a presentation • Business overview • Well-developed thesis points • Competitive position in the industry • Recent news and developments • Extensive VAR • Risks • Relevant financial metrics

  20. Website/Collab • Please visit our updated website: • www.uvamii.com • New interface (Collab-linked) • Archive of past research and educational materials • Find information for MII involvement • MII Calendar • Updated Portfolio • Collab polling after presentations

  21. Website

  22. Contact • To Join Mailing list: • See website under ‘Contact’ section • To Apply for Membership: • See website under ‘Contact’ section • Analyst and Associate positions: • Paul Chen (yc6k@virginia.edu) • General Questions: • Any of the MII managers

  23. Questions/Comments

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