Real dollars, real risk:
Real dollars, real risk:
Golden Griffin Fund students
tackle the world of investing head-on
In the headquarters of the Golden Griffin Fund at Canisius College, students monitor streaming market data on a Bloomberg Terminal and scour the Internet for financial information that will help them identify the most promising investments. It’s not a game—they’re managing a real portfolio of some 20 stocks and four exchange-traded funds currently worth more than $150,000, and the quality of their research will help determine whether the value of that portfolio rises or falls.
Using an initial investment from the college endowment, Canisius established the Golden Griffin Fund in 2003 to bridge the classroom and the real world for students interested in the field of securities analysis. The fund is at the heart of a financial-management course open to both undergraduates and MBA finance students. Over the course of two semesters, the students conduct independent research on companies in specific sectors of the economy—energy or telecommunications, for example—before narrowing the field to a single prospect that they believe has the greatest potential for growth.
At the end of the academic year, each student makes a presentation to an investment committee whose members are all Canisius alumni and current or former professionals in the investment market. That’s when every aspect of the project comes together: As in the real world, the quality of the research, the strength of the student’s presentation, and the student’s ability to field questions and challenges from the committee all help to determine whether or not the committee will follow the student’s recommendation.
While other colleges and universities offer similar hands-on investment courses, the Golden Griffin Fund experience stands out because it focuses on developing the student’s expertise in equities research, which is a key to sound investing. In the first semester, students review and aggregate third-party research reports generated by investment firms. In the second semester, they begin to delve into public records, including annual reports and other official financial statements filed with the Securities and Exchange Commission (SEC), and build their own valuation models. That research is critical to making an informed decision about a company’s financial stability and long-term potential—and to realizing consistent gains in the value of a portfolio.
Employers recognize the importance of experience in equities research, and Citibank is among several companies that have shown special interest in students who have managed the Golden Griffin Fund. In today’s volatile economy, there’s no better time to test your mettle in the market. For more information about the Golden Griffin Fund, please the Canisius College Graduate Business Programs Office at gradubus@canisius.edu or call 1-800-543-7906.
Michael S. Piemonte
Assistant Professor of Finance
Director, Golden Griffin Fund
Michael Piemonte is a former senior vice president at M&T Bank, where he oversaw corporate finance, investor relations, retail strategy and planning, and mergers and acquisitions. He served previously as CFO of the publicly held Citibank subsidiary Student Loan Corporation and in managerial positions with Mellon Bank, Sallie Mae and Freddie Mac.
stephanie | Evening/Part-Time MBA