NJIT Investment Club Provides Forum to Analyze and Invest in Equity Markets
The Martin Tuchman School of Management at NJIT has experienced tremendous growth during the past several years under the leadership of Dean Reggie J. Caudill, who has led the development of many initiatives with the aim of integrating the STEM curriculum into the school’s programs. One recent initiative was the creation of the Ray Cassetta Financial Analysis Laboratory (RCFAL), which features nine Bloomberg terminals that NJIT students can utilize to research financial markets. The RCFAL has cultivated discussion and collaboration among students with diverse backgrounds and majors who have a similar interest in developing their understanding of the financial services industry.
The opening of the RCFAL prompted the creation of the NJIT Investment Club. This organization was established by Alana Dudley, Julia Garcia, and Jordan Ireland, all MTSM students, to provide NJIT students with a forum to analyze and prudently invest in equity markets. By the end of the 2016-2017 academic year, the club had grown to over 50 members and the group's efforts culminated in the preparation and presentation of an 86-page equity sector analysis which forms the basis for an equity trading strategy to the Advisory Board of the MTSM.
As a result of the positive momentum created by this presentation, Billy McDermott, Executive Director of Development for the MTSM, raised $25,000 in capital to launch the NJIT Investment Fund. Students will now be able to learn from real-world investing experience and develop practical equity analyst and risk management skills.
"The club is also seeking to raise additional funds in the coming year in order to grow to a sufficient size where investment returns can be used to fund NJIT student scholarships," said McDermott.
The Investment Club is looking forward to the exciting months ahead. The club has been joined by a new faculty adviser, Steve Taylor, Assistant Professor of Finance at the MTSM, who previously worked as a quantitative analyst in the investment banking and hedge fund industries.
"We hope to bring practical trading and risk management experience to the club as they begin to invest their initial capital," said Taylor and McDermott.