Core Trading Consultants
Saturday, April 13th, 2012
Ithaca Today
Who are the CTCs?
The Fund

Manage the ICIC mutual fund
–

A Presentation in The Trading Room
$20,000 assets under management
Facilitate the advancement of understanding with regards to
equity research and asset management

Share work experiences to aid in the memberships’
preparation for professional development
The Room

Gain familiarity with technology available in the Trading Room

Provide training to members of the Ithaca College community
The People

Connect past CTC members to the current general body in
order to continue a legacy of excellence and to propagate
who may be curious about the software or who may need it for
pragmatic approaches used in a professional setting

network to develop the fund’s rapport and integrate outside
academic endeavors

Cultivate new relationships with alumni outside of the CTC
perspectives
Ensure that the technology is maintained and respected

Foster camaraderie between students, faculty, and
administration
CTC Structure & Operations
 Executive
Executive
Board
Board: Oversees
direction, education, and
management of members and
mutual fund
Senior
Analysts
 Senior
Analysts: Liaison between
board and JA/GBM
Junior
Analysts
 Junior
Analysts: Provide the
research that is the backbone to
the organization
General
Body
Members
 General
Body Members: Learn
about the markets, prepare for
possible positions above
CTC Structure & Operations
Energy & Utilities
Industrials & Materials
Consumer Discretionary & Consumer Staples
Health Care
Financials
Technology & Telecom
General Body Meetings
Brain Teaser

We strive to prepare members for encounters they will face in
Market Update

the world of finance, specifically the job market


A brain teaser is a common interview tactic which is used to
Understanding the implications of global events is an integral
part of proper equity analysis

Here we discuss what market moving news has hit headlines
assess a candidate’s analytical reasoning and ability to think
in the last week and what this could mean for markets in the
creatively
future
If you look at a clock and the time is 3:15, what is the angle

between the hour and the minute hands?
The U.S employment numbers for were flat, what effect has
this had on the market and what could this say about the state
of the United States economy?
Portfolio Update

Analyze the impact of recent news on the fund’s holdings from
Special Topic/Industry Group Presentation

both the perspective of immediate capital gains or losses and
its effect on the original investment thesis


Compare the portfolio’s performance to the benchmark and
assess appropriate courses of action

the interests of our members into our presentations

Determine how each sector within the portfolio is performing
and relate such performance to macroeconomic factors
Apple released its latest iphone. Here is the market’s reaction,
does this effect our investment thesis?
CTC is a student run organization and as such we incorporate
Past discussion topics have included hedge funds, M&A,
derivatives, and unilateral pairs trading

This is also an opportunity for an industry group to pitch
investment ideas or give sector-specific updates
–
Buy or Sell presentations are voted on to determine the
allocations of the fund’s capital
Industry Group Meetings
Specialize


Industry groups provide an opportunity for students to become

An objective investment process requires each group to take
proficient in the nuances of their sector
a universe of equities within their given sector and whittle it
Usually between 4 & 6 people, these groups also enable the
down to one ideal investment
development of knowledge in a more intimate setting

Screen

The criteria of such a screening process can include size,
In becoming sector specialists, members work closely with
recent performance, prospective growth opportunities, and the
Senior Analysts to familiarize themselves with the players in
estimated position in the business cycle
the sector, as well as the macro factors which are likely to
influence performance,
Analyze

Committing capital and taking partial ownership of a company
Pitch

requires substantial due diligence

An industry group will critically analyze each facet of the
findings to the general body

This serves as an opportunity for members to voice their
company’s operation, including its management team, lines of
opinions and provide new perspectives on the proposed
business, geographic presence, product margins, market
investment
saturation, and other company specific factors

Following the proper analysis, the industry group presents their

The group must ultimately formulate an investment thesis
which defines and provides a rationale for a price target but
also demonstrates an understanding of the associated risks
Members of the group must be prepared to answer questions
and defend the rationales for their price target

Ultimately, stakeholders determine by majority whether the
fund should allocate capital to the idea
Center for Trading and Analysis of Financial Instruments
Hardware

The Trading Room houses 44 dual-monitor work stations which facilitate access to the multitude of resources that are necessary for
in-depth financial analysis

Overhead, a live digital ticker tape streams real-time quotes for the members of the S&P 500 Index

To the right, an index screen displays the performance of global markets, members of the Dow 30, and subsectors of the Nasdaq
Composite Index

Three projectors create an interactive learning environment which allows students to follow the instructor’s examples and directions
Software

Each work station is outfitted with top-of-the-line analytical software including Morningstar, ThomsonOne, Datastream,
Palisade@Risk, and Valueline

Most notably,10 work stations are equipped with a Bloomberg Terminal
–
Streams real-time global news from multiple third-party sources
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Provides a wealth of analytical capabilities for equity and fixed-income products, as well as numerous alternative asset classes
–
Enables access to research from both Bulge Bracket and Boutique Investment Banks
Where Are We Now?
Questions?