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I told my students in class inflation is no longer a concern. Euro has been getting in deflation process. Good for the US, nominal wage here in the US is more rigid. Rutgers has the best graduates in Economics, Finance and Business. Please offer my students a summer intern to see how outstanding they are. I just taught them how to play NG---see how kold performs. You may try yourself but do your own work diligently. This is for educational purpose not investment advice. SPX moving closer to my 6300 in a baby step. #PCEInflation

Last week, my project team finalized our replication and extension of an academic finance paper examining the effects of idiosyncratic volatility on returns in the cross section. The course project was an accumulation of topics learned throughout the semester including quantitative portfolio construction, factor investing, and stochastic processes. I am also excited to announce the beginning of two new research experiences: 1. Analyzing HFT processes using NASDAQ ITCH data under the direction of Dr. Sean Warnick in the Information Decision Algorithm Labs (IDeA Labs) 2. Conducting academic asset pricing research in the Finance Department of the Marriot School of Business under the direction of Dr. Brian Boyer. It's going to be an awesome summer!

Reflecting on my journey from an intern to now, I'm struck by how my understanding of investment models has evolved. Last year, while interning, I was introduced to the categorization of securities based on risk levels, a fundamental concept in investment management. The model incorporated several classes of securities. I thought the understanding that I had developed on the model was adequate. However, it wasn't until this semester, diving into Financial Economics and exploring the fundamental concept like Markowitz's mean efficient frontier, that I gained a deeper comprehension of models like Fama and French's Three and Five-Factor Models. These models, particularly the Five-Factor Model, have truly fascinated me with their intricate categorization of securities and their impact on portfolio returns. Take, for instance, the profitability and investment factors - RMW and CMA. These factors capture the difference in returns between high and low profitability stocks and between firms with conservative and aggressive investment policies, respectively. As I delved into research papers and analyzed the data, I realized the profound implications these factors have on portfolio construction and risk management. The FF Five-Factor Model not only sheds light on the dynamics of small stocks but also illustrates how these trends ripple through to impact returns on large stocks. Understanding these models has not only enhanced my analytical skills but has also empowered me to make more informed investment decisions. It's incredible how theoretical frameworks learned in the classroom seamlessly translate into real-world applications, providing a solid foundation for navigating the complexities of the financial markets. These three courses, over the course of my undergraduate program, have helped me become a "thinker" with their invaluable framework in understanding the market better. 1. Decision Analysis 2. Quantitative Finance (Random Walk theory) 3. Financial Economics (The Dynamics of CAPM) #InvestmentModels #FinancialEconomics #FamaFrench #PortfolioManagement #RiskManagement #InvestmentDecisions #FinancialMarkets #ProfessionalGrowth

Exciting News! 📊 I’m thrilled to share that I’ve successfully completed the Bloomberg Finance Fundamentals course! 🎉 This course has significantly enhanced my understanding of the financial markets and equipped me with the skills to navigate the Bloomberg Terminal, one of the most powerful tools used in the finance industry. The modules I completed include: 📊 Risk and Reward – I learned about stock exchanges, the risks and rewards of trading, and how stakeholders work together to uphold the financial system's integrity. 💼 Portfolio Management – I explored portfolio management strategies and how responsible investing can create value not only for individuals and businesses but also for society as a whole. 💡 The Purpose of Investing – This module provided insights into how the economy is structured, how money flows through the financial system, and the critical factors that help small businesses grow and go public. 📈 Types of Investment – I delved into the various financial instruments available to households and companies, learning how to manage different types of financial risk and strategies for risk mitigation. As a third-year Economics student at the University of Kent, this course has been an invaluable opportunity to complement my academic knowledge with practical skills used by financial professionals globally. This learning experience, reinforces my interest in finance and expanding my skills in financial analysis and investment management. I’m excited to apply these insights as I continue my studies and I’m excited to bring these insights into future internships and work experiences. A huge thank you to Bloomberg for Education for providing this opportunity and helping students like me bridge the gap between theory and practice. Looking forward to applying this knowledge in real-world scenarios! #Bloomberg #FinanceFundamentals #EconomicsStudent #FinancialMarkets #CareerDevelopment #FinanceSkills #InvestmentAnalysis #StudentSuccess #BloombergTerminal #ProfessionalGrowth #FutureFinance #Economics #PortfolioManagement #RiskAndReward #Investing #CareerDevelopment #Finance

🚀 Personal Challenge Accepted: Mastering Key Chapters of Hull's "Options, Futures, and Other Derivatives" 📚 This summer, I've set a personal challenge to dive deep into John Hull's seminal work, "Options, Futures, and Other Derivatives," and tackle the corresponding exercises for several key chapters. The inspiration for this goal came from a memorable piece of advice from my mathematics professor, Matthieu Garcin, during our first lecture. He emphasized the value of self-study through such books if we couldn't secure an internship over the summer. Working through the entire book might be too ambitious within a single summer. Therefore, I’ve set a goal to thoroughly study and complete exercises from the most critical chapters for my field, Financial Engineering. These chapters include: Chapter 3: Hedging Strategies Using Futures Chapter 7: Swaps Chapter 10: Mechanics of Options Markets Chapter 15: The Black-Scholes-Merton Model Chapter 19: Greek Letters Chapter 22: Value at Risk (VaR) To my network, do you have any recommendations on which chapters are the most critical or beneficial to study? ✨ Progress Update: I have completed handwritten solutions for Chapter 1: Introduction. 🔗 Stay Tuned: I will be posting regular updates on my progress and sharing brainteasers to keep our minds sharp. Here's today's puzzle: "How can you arrange 50 good candies and 50 rotten candies into two boxes to maximize the chance of picking a good candy if you randomly choose one box and then one candy from that box?" 🕒 New Posts Every Week: Expect updates every Wednesday at 4 PM to follow my journey. Join me on this learning journey, and feel free to share your thoughts or even take on a similar challenge. Let's make this summer both productive and insightful! #Finance #Derivatives #ContinuousLearning #FinancialEngineering #JohnHull P.S. What strategies do you use to stay motivated during personal challenges? Comment below!

"Being a PhD student at SSE allows me to stay attuned to the forefront of research innovations in finance, fostering aspirations to impart novel insights to the domain through my own work. The joy derived from advancing the boundaries of human understanding is simply beyond words. The intensive curriculum, pragmatic methodology, and access to a variety of viewpoints at SSE have enhanced my comprehension and refined my capabilities, acting as cornerstones for my forthcoming research in finance", says Haohang Wu, MSc in Finance alum and current PhD in Finance student at SSE. 🔗 Read more about his journey in academia here: https://lnkd.in/dGfBDpZE

Dancing the financial foxtrot or the tax savings two-step can be easier with the right partner. Do you mind if we cut in? This twinkle toes is Claudia Eardley! Claudia is one of our summer interns and is a sophomore at Liberty University majoring in Financial Planning, Finance, and Economics. Get to know Team BWC! https://lnkd.in/efqaT52J #faithbasedinvesting #biblicallyresponsibleinvesting #TeamBWC 

As the semester draws to a close, I'm excited to share the highlights of the past few months. First and foremost, as the VP of Morningside Business Honors, I had the honor of organizing the annual Case Competition, sponsored by Sterling Computers. Witnessing students from various regional universities tackle real-world business challenges was rewarding, and I extend my gratitude to Prof. Marilyn Eastman for her trust in letting me organize it together with Jes Lumsden and Mark Nielsen. The conclusion of the semester also marks the end of my 1.5-year internship with the Wealth Management Department of Security National Bank. While honing my skills on the Bloomberg Terminal, I had the opportunity to experiment with reimagining the Dow Jones Index to weigh the companies according to their PEG ratio (a measure of value vs. growth potential) rather than their share price. While the experiment didn't outperform the traditional index, the experience helped improve my analytical skills. My time at SNB also prepared me for successfully passing the Securities Industry Essential exam, a significant milestone in my journey toward a deeper understanding of the securities industry. At the Midwest Political Science Association conference in Chicago, I had the privilege of presenting two research papers: ‘Aid in a U.S.-China Bipolar World’ and ‘Decentralized Cryptocurrencies: Authoritarianism and Poor Currencies as a Predictor for Crypto Adoption.’ The first paper explores the evolving dynamics of aid distribution between the United States and China in Southeast Asia, while the second delves into the relationship between authoritarianism, failed currencies, and cryptocurrency adoption across diverse countries. My project "Decentralized Cryptocurrencies…” also serves as my Business Honors Thesis for which I would like to extend my thanks to Dr. Zink for his help with the econometrics.  A special thank you to Dr. McKinlay for his unwavering support throughout these endeavors, from guiding the research process to his advice on graduate school opportunities, and for allowing me to serve as a preceptor for his class, International Relations. While the semester concludes, the journey continues. In the fall, I'll be embarking on a new adventure, pursuing graduate studies—something I look forward to announcing soon once the details have been confirmed!

First Foundation’s students wrapped up their final 50-page paper in their applied investment course last week with a strong presentation and received very good marks. If you remember, the students were asked to analyze 3 stocks and chose Warren Buffett’s 2nd ever stock purchase Texas Pacific Land (NYSE:TPL) over Berkshire current top 5 stock, Occidental Petroleum (NYSE: OXY) and Prairie Sky (TOR:PSK).    We are excited to announce that we were invited back to the UCLA Ben Graham Value Investing Program as Investor-In-Residence for a 5th year next year - if you would like to learn more: https://lnkd.in/dxrsGNTA. Eric Speron, CFA, our Managing Director of Equities and lead portfolio manager on the First Foundation Total Return Fund (NASDAQ: FBBYX), is hopeful that as the students finish up their final summer internships in investment banking and consultants, they will consider a job as an investor when they join the workforce on a full-time basis.    The 5-star Morningstar-rated Total Return fund does own a few of the securities being analyzed but we were careful to protect the impartiality of the role. We went over the proxy statement, insider purchases and a careful study of the people that drive the businesses that trade on our stock exchanges, as getting to know those people, their motivations, and the way they shape their businesses are lessons we hope they don’t forget. If the experience wasn’t memorable enough, a few of those pictured did close the day’s events with a few verses of the theme song from the old Television program, “The Beverly Hillbillies.” #teamff #ucla #investment

At the Qualitative Research Summer Intensive, take advantage of a unique opportunity to gain both theoretical and practical understanding of qualitative inquiry. For information and registration: https://lnkd.in/gBzTcwm5 Receive an 18% discount: Code – Linked18