GW INVESTMENT INSTITUTE INSIGHTS

Happy Holidays to you and your loved ones!

As I look back on this year, I am deeply grateful for the incredible support and dedication of our faculty: Bill Collier and Christine Song—our staff: Bojana Jankovic, Kathleen Hinman, and Willow Newcomb—and our teaching assistants: Will Ahrens and Yaseen Shah.

I am also thankful for the guidance of our chairman: Russ Ramsey—and our board members: Mark Anfang, Jim Carruthers, Jared Golub, Sam Eisner, Aron Kershner, John Roberts, Steve Ross, and Greg Wong. A heartfelt thanks as well to all our class guest speakers and keynote speakers: Professor Patrick Hall and Oscar Pulido, for their contributions this year.

I am also grateful to you for being a part of our community and contributing to our progress. In the spring of 2025, I look forward to celebrating 20 years since the inception of the GW Ramsey Student Investment Fund.

Recent activities & opportunities to connect with the GW Investment Institute: 

• GWSB senior Esha Peer wins the best speaker award at the McGill International Portfolio Challenge (MIPC) competition in Montreal, check out Going with the FLOW: My MIPC Experience blog by Esha. 
• Explore how 34% of student stock pitches were accepted into the GW Phillips Student Investment Fund during Fall 2024—read the Stock Pitch Days Recap blog for all the details.
• Industry visit: Thanks to alumni Oscar Pulido and Jenna Bryan-Krug, students from the Applied Financial Securities Analysis class had the opportunity to visit BlackRock’s DC office, check out the social media post for details.
• President Granberg, her wife Sonya Rankin, and GW Senior Vice President and Chief of Staff Scott Mory attended the Applied Financial Securities Analysis class, check out the social media post for details.
• Market News with Rodney Lake podcast hosted Prof. Bill Collier, GW alumnus and Principal at Noblis Ventures (check out the episode on Apple Podcasts and YouTube).
• Support Future Investors: Explore Funding Opportunities with GW Investment Institute and donate today.
• Join us on March 21, 2025, for the GW Investment Institute’s Annual Conference featuring keynote speaker Dan Ives, a globally recognized tech analyst. Register now to explore the future of tech investing!

Happy Holidays and a Happy New Year!

On December 6–7, 2024, students from two Applied Financial Securities Analysis (FINA 4101) classes showcased their buy and sell stock recommendations for the GW Phillips Student Investment Fund. Established in 2008, the fund now boasts over $3.6 million in assets under management (as of December 10, 2024). For a comprehensive overview of the fund’s performance, check out the latest GWII Quarterly Report.

On Stock Pitch Day, students presented their detailed analyses using the GW Investment Institute Framework. After each presentation, the class, acting as the investment committee, voted on the proposal. To have their recommendation adopted into the portfolio, students needed to secure an 80% majority from their peers.

A heartfelt thank you to all the students for their hard work and dedication this semester. We especially thank our teaching assistant, Will Ahrens, and alumni speakers, Jim Carruthers, Suzanne Dannheim, John Roberts, Jim Van Horn, Jordan Sheinkop, and Greg Wong, for sharing their valuable insights with our classes.

We are also profoundly grateful to Oscar Pulido and Jenna Bryan-Krug for hosting our students at BlackRock’s DC office and speaking to the class in November.

Lastly, thank you Professors Song and Lake for another outstanding semester of learning and growth!

In Episode 25 of “Market News with Rodney Lake,” Rodney Lake dives into Walmart’s financial performance and strategic outlook. Lake discusses key metrics, including Walmart’s net debt, capital allocation, and recent management decisions under CEO Doug McMillon. Lake highlights Walmart’s challenges in navigating rising interest rates and tariff uncertainties while maintaining its reputation for operational discipline. As the world’s largest retailer continues its digital transformation, Lake emphasizes the importance of monitoring risks and opportunities in a rapidly evolving market. Tune in for a comprehensive analysis of Walmart’s position and future prospects!

In Episode 24 of “Market News with Rodney Lake,” Rodney Lake, Director of the GW Investment Institute, dives into Nike’s current challenges and opportunities. From iconic brandings like the Nike Swoosh, Jordan, and Air Force 1 to revenue declines and margin struggles, Lake evaluates the company’s performance. He emphasizes the need to watch key factors like distribution channels, valuation, and growth markets like China. Tune in to learn more!

In Episode 23 of “Market News with Rodney Lake,” Rodney Lake, Director of the GW Investment Institute, sits down with Professor Bill Collier, a seasoned venture capitalist and GW alumnus, to explore the world of entrepreneurship and venture capital. Professor Collier discusses key indicators of product-market fit. He also shares insights into the hype versus reality of artificial intelligence in the investment landscape. Professor Collier also offers actionable advice for students and aspiring VCs, including leveraging internships, networking intentionally, and adding value to relationships. Tune in to learn more!

At the GW Investment Institute (GWII), we empower the next generation of investors by providing hands-on experience managing real funds and building essential skills for successful careers in finance. With over $10 million in university endowment funds under student management, we’re shaping the future of investment leaders.

Donations to George Washington University are tax deductible
Questions? Please reach out to Ann Baker, ann.baker@gwu.edu

This semester, the GW Investment Institute, in collaboration with the Office of Undergraduate Programs at the GW School of Business (GWSB), proudly supported a team of four undergraduate students in representing GWSB at the prestigious McGill International Portfolio Challenge (MIPC). We are deeply grateful to the Office of the Dean at GWSB for their generous support in making this opportunity possible.

The following is a guest blog by Esha Peer, BS ’25 one of the students who competed at MIPC, reflecting on the experience.

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The McGill International Portfolio Competition (MIPC) is a student-run buy-side case competition with three rounds: the first is a write-up with the skeleton of a recommendation. The second and third rounds occur on the same day, and there is an in-person presentation in Montreal on campus at McGill. This year’s challenge was integrating liquidity into a retirement savings plan for the workforce in Florida, especially those in the gig economy.

This summer, I worked on the buy-side as an investment analyst with PGIM Private Capital, but only on one asset class. I had no idea how a pension fund worked. My teammates – Judy Abdo, Grady McGean, and Mateo Moya – and I spent our first few meetings trying to figure out what retirement funds do. I won’t go too much into the jargon, but let’s just say the Wealth Whisperers (our fun team name) probably know more about defined contributions than the average Gen Z-er. 

After understanding the background, we spent significant time conceptualizing our problem, the gaps in current solutions, and how to create a new solution. Spending hours on a whiteboard writing out different frameworks and trying to innovate with the background and excitement we all had were some of my favorite late nights of the semester. We determined our solution needed to be flexible, provide liquidity, and sustain wealth. Flexibility, liquidity, and wealth sustainability became FLOWS. After these few weeks of labor and with guidance from the GW Investment Institute (GWII), we finally submitted our first round. 

Our team received an email Sunday night: we made it to the semifinals. I was speechless when I received the news. We were going to Montreal to compete in the next round! After another few weeks of meetings, planning, and revising between midterms, our team submitted a presentation and got our bags ready for Canada. 

An hour after landing and checking in, the team headed to McGill’s campus across from our hotel. The minute we walked outside, the Montreal sky began to pour. But with our suits on and giant hotel umbrellas, we made it to our first panel, Women in the Buy Side. Between this and the night’s final event, Bojana Jankovic – our team chaperone – allowed us to practice our mock presentations. This one hour of practice was nerve-wracking, but it was exactly what we needed. 

At 9 AM, it was time to head out. The hours before our presentation were a blur. But the moment our presentation began, the team was ready. We flowed through the slides and received tough questions from our judges. Instead of getting stressed, though, our team continued to answer questions. For our 10 minutes of questions, my heart never stopped pounding. However, the team’s rehearsal and research depth helped us through the high pressure.

At lunch, we discovered we hadn’t made it past the semifinals. It was sad to see the end of our hard work before the finals, but I was still glad to be part of the first in-person GW team since 2019. Watching the finalists helped us realize how much more there was to learn about the buy-side and actuarial modeling. I’m happy to report that I, along with four other students, received the best speaker award. 

As a senior in the business school, I figured the core moments of my GW experience had concluded a while back. But MIPC gave me something special. Preparing for the case competition allowed me to learn about a new area of finance. It also helped me grow my network within the business school and abroad. I’m so thankful for the opportunity to represent GW internationally, and I hope students are inspired by this experience to take advantage of how much GWII has to offer. 

In Episode 22 of Market News with Rodney Lake, Rodney Lake, Director of the GW Investment Institute, analyzes Mastercard’s financial health, focusing on its balance sheet, margins, and management. Professor Lake discusses Mastercard’s impressive interest coverage ratio and its use of leverage to boost return on equity. He also discusses regulatory risks, competition from PayPal and Apple Pay, and potential growth concerns. Lake rates the business highly, though he remains cautious about potential regulatory challenges. Tune in for an in-depth look at Mastercard’s performance and outlook!

Thank you to Oscar Pulido, GWSB ‘01 and Managing Director and Jenna Bryan-Krug, GWSB ’04 and Director for hosting our Applied Financial Securities Analysis class at BlackRock’s Washington, D.C., office. The experience provided a look into the world of municipal bonds, ETFs, and the intersection of public policy and asset management.

During the visit, Oscar and Jenna shared valuable insights into their work, highlighting the importance of adaptability in today’s ever-evolving investment landscape. It was an eye-opening experience that gave our students an understanding of the diverse career paths available in finance and the practical application of the concepts they’re learning in the classroom.

Thank you to BlackRock for hosting us!

https://www.youtube.com/watch?v=Osv7oKW8FcE

In Episode 21 of “Market News with Rodney Lake,” Rodney Lake, Director of the GW Investment Institute, sits down with GW Investment Institute Advisory Board Member and Partner & Senior Portfolio Manager at Corient, John Roberts, to explore the less glamorous corners of the market where young analysts can uncover hidden opportunities. Roberts shares valuable insights on identifying investment potential in out-of-the-way sectors that may offer attractive returns and long-term stability. Whether you’re an aspiring analyst or a seasoned investor, this episode provides fresh strategies for building your investment acumen. Tune in to learn more!