By Elias Kott, Contributing Writer As of Wednesday, indices across the market closed with mixed results. The Dow Jones Industrial finished down 85.41 points (-0.26%) and currently sits at 32,981.55. However, both the S&P 500 and Nasdaq closed up for the day. The S&P 500 finished up 14.34 points (0.36%) at 3,972.89. Most notably, the…
By Elias Kott, Staff Writer As of Sept. 23, 2020, all three major indices finished down for the day with the Dow Jones down 525.05 points (-1.92%), S&P 500 down 78.65 points (-2.37%) and Nasdaq taking the biggest hit down 330.65 points (-3.02%). Currently, the Dow sits at 26,763.13, S&P 500 at 3,236.92 and Nasdaq…
By Elias Kott Contributing Writer As Students in Money Management’s fall semester kicks off, members of our student-run investment portfolio club have been assembled into different sectors. The main sectors that members of SIMM are split up into include: technology and consumer discretionary, financials and fixed income, healthcare and consumer staples, family business and industrials,…
By Elias Kott, Contributing Writer In SIMM (Students in Money Management), the biggest events that occurred this week included two pitches, one which was in recommendeing buying of a stock and another recommending selling a current holding. The first pitch done by the consumer discretionary sector was a proposal to add the stock JD.com, which…
By Elias Kott, Contributing Writer SIMM and Stock Market-Related News Members SIMM (Students in Money Management) opened up the week with its semi-annual picture day. After pictures, junior Chris Bortuzzo gave members a breakdown of a very important financial statement called the statement of cash flows. The statement of cash flows is a type of…
By Elias Kott, Contributing Writer As SIMM’s (Students in Money Management’s) spring semester kicks off, members of the student-run investment portfolio club have been assembled into different sectors. The main sectors that members of SIMM are split into include Technology and Consumer Discretionary, Financials and Fixed Income, Healthcare and Consumer Staples, Family Business, and Industrials,…
By: Steve Zimmer Staff Writer Alumni Chicago Trip Last week, members of SIMM traveled to Chicago to meet with St. Bonaventure alumni at their respective businesses. The first meeting of the trip was a tour of the Chicago Board of Trade (CBOT) with Tom Scanlan ’89, vice president of ICAP. Scanlan gave students an…
By: Steve Zimmer Staff Writer Trading Activity Buy Alcoa Inc. (AA) Alcoa Inc. produces and manages primary aluminum, fabricated aluminum and alumina. The company operates in four segments: alumina, primary metals, global rolled products and engineered products and solutions. Alcoa supplies aluminum to eight major markets, including the automotive, aerospace, construction, oil, commercial transportation, defense,…
By Steve Zimmer Staff Writer Summer Portfolio Monitoring In order to hedge our equity positions over the summer, students were tasked with placing stop-losses on their sector holdings. A stop-loss is an order to sell a stock if it hits a certain price. It’s designed to limit an investor’s loss on a position. Since the…
By: Steve Zimmer Contributing Writer Club Activity Over the past two weeks, members of SIMM have been working to prepare SIMM’s semi-annual report. Reports for both the Equity and Energy Fund are distributed to our advisory board, alumni and any other interested party. The reports for the Equity and Energy Fund highlight fund performance compared…
By: Dan Milgate Contributing Writer Equity Fund: $252,878 Energy Fund: $241,100 NYC Trip Recap From Sunday, Oct. 26 to Tuesday, Oct. 28, 21 students and faculty went to New York City for our annual SIMM/Finance Club trip. We met with a variety of banks and financial services companies including UBS, CIT Group, Bank of…
By Mark Lawhead Contributing Writer Market Summary Overall, the markets took a dive over the past week as international turmoil took the headlines and forced money managers on Wall Street to find alternative investments. Oil and gas prices remain low amidst the turmoil, as tension with Russia remains at the forefront of the global markets.…
By Sean Corey Staff Writer U.S. stock markets have been rising nearly every day for the past week. The S&P 500, an index of 500 stocks from large companies, reached a record high on Wednesday closing at 1,890.90. The SIMM long fund had its best week of the year, and only two of…
By Kristie Schiefer News Assignment Editor Students in Money Management (SIMM) is putting the money in the hands of its members while they gain real-life experience. SIMM is an investment club where more than $500,000 of real money is traded, including part of the university’s endowment. Run differently than similar programs at other schools, adviser…
