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.
Our students serve as analysts and portfolio managers for four student investment funds covering: equities, real estate, and quantitative investing. Our students:
▶ Perform equity research, develop an investment thesis, pitch stocks,
▶ Gain exposure to tools and techniques for building quant models,
▶ Learn how to utilize research tools such as: FactSet, Bloomberg,
▶ Connect with alumni and industry professionals, and
▶ Qualify to receive a financial award for stellar performance in class.
Support Students
$2,500 – Part-time Student Intern for one semester. $5,000 – One GW team at Cornell’s Women in Investing Conference. $10,000 – One GW team at McGill’s buy-side competition in Canada. $10,000 – Alumni reception in New York City or Washington, D.C. $20,000 – Finance Career Trek NYC for 10 students from our classes. $30,000 – Student Teaching Assistants. $30,000 – FactSet annual subscription.
$10, 000 – Lead Market News with Rodney Lake podcast sponsor. $25,000 – Lead GWII Conference sponsor. $100,000 – Name endowed scholarship. $1 million – Name fund and serve on the Governing Board. $5 million – Endow the Institute Director position.
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.
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.
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!
In Episode 20 of “Market News with Rodney Lake,” Rodney Lake, Director of the GW Investment Institute, assesses Google’s current standing amidst the fast-evolving AI landscape. Analyzing the company’s management under a non-founder CEO, Sundar Pichai, Lake discusses Google’s overreliance on its core platforms—Search and YouTube—and questions its ability to compete in the AI race with tools like Gemini. While acknowledging Google’s solid balance sheet and steady presence in the market, Lake scores the tech giant at a 7.5, citing a need for greater urgency and innovation to stay competitive. Tune in to hear Lake’s take on how Google can sustain its growth.
During the September 30, 2024 quarter, the GW Investment Institute (GWII) ran two sections of the Applied Financial Securities Analysis class, enrolling 33 students. This quarter marked the debut of the GW Stock Pitch Competition, awarding financial prizes to four outstanding participants. GWII continues supporting student competitions; we sent a team to Cornell’s Women in Investing Conference and another to the McGill International Portfolio Challenge. GWII published its annual report, and Professor Lake began hosting the weekly podcast, “Market News with Rodney Lake,” delivering insights on timely market topics. GWII also co-hosted the Summer in the City event in New York City and participated in the GW Alumni at the Colorado Rockies event. Ojas Chitnis, a GWSB senior majoring in International Business & Finance, writes this quarter’s market commentary. After graduation, Ojas will join Deutsche Bank as a sales & trading analyst.
Market Commentary
The S&P 500 index added 5.89% on the quarter, despite a cooler-than-expected nonfarm payrolls print that pushed the VIX to (34.49%) a level unseen since the onset of COVID-19.
The quarter saw the realization of the long-awaited Fed easing cycle, with the central bank delivering a 50-basis point “double cut” to the policy rate at its September meeting – the first adjustment in 15 months. With robust progress towards the Fed’s dual mandate, increased GDP growth expectations, and earnings beats across sectors, the third quarter saw an “everything rally” across asset classes.
Of S&P 500 sectors, only Energy (-2.32%), on account of commodity price pressures, ended the quarter in the negative. Notable sector outperformances included Utilities (19.37%), Real Estate (17.03%), Industrials (11.55%), and Materials (9.70%). After leading markets in the front half of the year, Communication Services (1.68%) and Information Technology (1.61%) notched a much more modest quarter. Small-cap stocks had their second-best quarter since 2021, with the Russell 2000 returning 9.27%, while the Magnificent Seven (5.43%) underperformed.
GWII Student Investment Funds underperformed the equity benchmark by 2.2% in the quarter. Year-to-date, the four GW SIFs have returned 8.4% more than the S&P 500 index.
Sophia Volvovsky, a sophomore majoring in Business, writes this guest blog post. Thank you to Strategic Investment Group for sponsoring our WIN Conference participation again this year.
Last month, Laura Null, Victoria Irizarry, Madison Bachmayer, and I, suitcases in tow, set off to Roosevelt Island, New York, to take the stage at Cornell’s Undergraduate Women in Investing (WIN) conference. We embraced the opportunity to make our mark on the future of the investment industry.
The cornerstone of this conference was the opportunity to pitch a stock of our choosing to a panel of judges, competing against other well-known universities around the country. The competitive nature of the conference added a layer of excitement and intensity; it pushed us to truly collaborate—to understand each of our strengths, what stumped us, and how we thrived. This emphasis on collaboration was not just a strategy but a powerful tool that we wielded to navigate the challenges and emerge as a stronger team.
We settled on pitching Zoetis (ZTS), a leader in the animal pharmaceutical industry that focuses on producing vaccines, veterinary hardware, and medications for companion animals and livestock. Driven by its firm hold on the global market and its R&D innovations, it is well-positioned for exponential growth. We spent weeks together honing our presentation, nitpicking our slides and scripts. This wasn’t just about presenting data but rather convincing the judges to believe in us – believe in our thesis. Seeing our work culminate at the front of the pitch room was incredibly rewarding; our efforts paid off – but not only in the way we were expecting.
Our growth was not limited to our roles as presenters and financial analysts but extended to our roles as students, professionals, and individuals. The time we spent together, late nights in the lobby of Duques Hall or our various hotel rooms running our presentation, forged us into a stronger team. It taught us the value of true collaboration, extending beyond our scripts and the figures we were presenting. It showed us how to conduct thorough research for a pitch – to delve into investor relations and financial statements and draw conclusions based on the most convincing facts and data.
This conference was my first real-life exposure to the investment industry. As a second-year student, most of my knowledge came from what I had learned in my classes and my internship experiences in unrelated industries. Thus, to me, the value of the conference was in the learning experience. I was pushed out of my comfort zone into the unfamiliar, genuinely preparing me for the harsh world of financial markets. With great challenge came significant growth, and throughout our preparation, I learned to think quicker, to see from other perspectives, and to see first-hand how the economic theories I had learned about in class interacted with a real, publicly traded company.
Perhaps, most importantly, this reinforced my passion for finance. It made it clear how much I enjoyed the challenges and opportunities that come with work like this: the chance to learn about other companies, understand and analyze what makes them healthy and strong, and influence others’ financial decisions. To persuade – convince a judge, an audience, a client.
Though I can’t speak for the entirety of the conference attendees, I can confidently say the George Washington University Investment Institute Team emerged from this journey feeling empowered, supported, and ready to make a significant impact – in our finance classes, in our business school community, and, by extension, in our industries, as a part of the new generation of female leaders in the investing world.
In Episode 19 of “Market News with Rodney Lake,” Rodney Lake, Director of the GW Investment Institute, dives into Berkshire Hathaway’s current standing, exploring its extensive collection of businesses, financial strength, and unique decentralized management model. Lake evaluates Berkshire’s strategic capital allocation under Warren Buffett, discussing the challenges and opportunities of maintaining growth at such scale. Rating key aspects like the business portfolio, management, valuation, and balance sheet, Lake gives Berkshire an overall score of 8, raising important questions about succession and the company’s future. Don’t miss this look at one of America’s most iconic companies!
The GW Investment Institute (GWII) recently hosted its Second Annual GW Ramsey Scholars Investment Summit. This gathering showcased the achievements of 16 Ramsey Scholars from the inaugural cohort to our most recent award recipients. We were honored to host Mr. Oscar Pulido, Managing Director at BlackRock, the host of the The Bid podcast, and a GW alumnus, as well as Mr. Russ Ramsey, Chairman of GWII and CEO of Ramsey Asset Management, whose commitment and vision continue to propel the institute forward.
The Ramsey Scholars program, a testament to the impact of experiential investment education, was established in 2019 to recognize the top ten students from each academic year with a $5,000 financial award funded through the GW Ramsey Student Investment Fund endowment, which has over $6 million in assets today. This fund was launched in 2005 with a $1 million seed donation from Mr. Russ and Norma Ramsey, and to date, it has awarded over $300,000 back to students. The program reflects the Ramseys’ dedication to cultivating the next generation of finance leaders at GW.
The day began with opening remarks from Vanessa Perry, Interim Dean of the George Washington School of Business (GWSB), who emphasized the program’s impact on student achievement and the broader university community. Mr. Ramsey then took the stage to reflect on the program’s growth and the importance of long-term investing. This message resonated throughout the summit as Ramsey Scholars introduced themselves and shared their academic and professional journeys, from investment banking and consulting to asset management and analytics.
The day’s highlight was Mr. Oscar Pulido’s keynote speech. Mr. Pulido shared valuable perspectives on the evolving investment landscape. He closed his remarks with insights on how to get ahead in your career, emphasizing that we all need to hustle to get things done. He inspired attendees by his career trajectory, which began with a BBA from GW and later an MBA from NYU Stern.
A fireside chat featured Mr. Ramsey and Rodney Lake, Director of GWII. Their discussion, titled “Outperforming Wall Street by Embracing Long-term Compounding,” highlighted the success of GWII’s experiential learning model as students continue to outperform the market. Following this, attendees had the opportunity to network over a reception.
The GW Ramsey Scholars Investment Summit celebrates past achievements and is a platform to look toward the future. As we reflect on our performance over the last year, we are filled with hope and optimism for the continued success of our Ramsey Scholars. We look forward to witnessing their strides in the field and their embodiment of the enduring legacy of GW’s Ramsey Scholars Program. We invite you to review the recap video above to hear reflections directly from the scholars.
