» Two Legends Came Together
UCLA Anderson Reunites Two of the World’s Most Influential Money Managers
Alumni Bill Gross ('71) and Larry Fink ('76) agree: default is not an option
LOS ANGELES (Oct. 4, 2013) - The world's largest bond mutual fund manager and the world's largest asset manager -PIMCO's Bill Gross, founder and co-chief investment officer, and Larry Fink, chairman and chief executive of BlackRock Inc. - were reunited for an evening of discussion on national, international and governmental issues at the Beverly Hilton Hotel in Beverly Hills, CA, on Thursday, Oct. 3, 2013. In addition to sharing their perspectives on global economic and financial markets, the two UCLA Anderson School of Management alumni focused their conversation on an emerging concern: a new workforce that may be ill prepared to respond to the needs of advancing technology and the demands of future economies.
Read more: Fink/Gross Event
» Dialogue with Harry Markowitz
On Wednesday, September 25th, 2013, The UCLA Fink Center for Finance & Investments in partnership with the Directors Roundtable held a Conference featuring a dialogue with Nobel Laureate Harry Markowitz: Opportunities & Challenges in Applying Financial Techniques during a Crisis.
The event was attended by over 300 finance students, alumni, faculty, and investment professionals and began with a reception in the Marion Anderson Courtyard. Following this networking opportunity, the conference program ran from 6-8pm in Anderson's Korn Convocation Hall. Distinguished speakers spoke about what caused the recent market crisis and provided valuable insights for combining theory and practice for more successful results in challenging markets. The Roundtable included discussion topics on stocks, bonds & derivatives; modern portfolio theory; mark-to-market; Black-Scholes; real estate; M&A; bankruptcy claims; and litigation.
Read more: 2013 Events
» Big Data Jobs
As quantitative positions become more and more popular at firms, UCLA's Anderson School of Management Masters in Financial Engineering program has seen a 76% increase in applications. The growing program is very successful and currently enrolls ~50-60 students a year. For more, read the recent article in Businessweek: Big Data Jobs
» The Fink Center Stock Pitch Competition
On Friday, February 22, UCLA Fink Center held its second annual Fink Center AIA Stock Pitch Competition that brought together 12 teams from the top MBA programs across the country. The teams included: UCLA Anderson School of Business, Chicago Booth School of Business, Columbia Business School, UVA Darden School of Business, Duke University Fuqua School of Business, UC Haas School of Business, Indiana University Kelly School of Business, Richard
Ivey School of Business, Michigan Ross School of Business, MIT Sloan School of Management, University of Rochester Simon Graduate School of Business, and USC Marshall School of Business. The full day competition was split into two rounds, a first round in the morning and a final round in the afternoon. During the morning rounds teams competed simultaneously in 4 rooms and pitched a long or short stock that they chose from a list of 20. Each room was judged by two industry professionals and the finals were judged by 5 industry professionals. Judges came from top finance firms including: PIMCO, TCW, DoubleLine, HighMark Capital, UCLA Investment Company, Research Affiliates, MAZE Investments, and Anderson. Teams were randomly assigned presentation time and room, and the best team from each of the 4 morning rooms was chosen to proceed to the finals. During lunch, as judges deliberated, students enjoyed a keynote speech by Joel Fried, President and Director of PRIMECAP Management Company. Joel spoke about his start in investment management and how he thought he was so lucky to be paid for what he loved to do. He spoke about market crises and the ups and downs that come with working in the business. Finally, he gave students advice on how to pick the best stocks and spoke about a stock - an LED light manufacturer and an industry sector - pharmaceuticals that he likes right now.
The finals included 4 teams (UCLA, Ivey, Columbia, and Haas) presenting their buy or sell recommendation on Tesla in front of the judges and a 50 person audience. Teams presented their analyses on the company for 20 minutes followed by 25 minutes for questioning by the judges. Each team did an excellent job, and the final awards were:
1st Place: UCLA Anderson - Team GreenRock - $5,000
2nd Place: Richard Ivey School of Business - Team IV Associates - $3,000
3rd Place: Columbia - Team Number Crunchers - $2,000
The event concluded with a reception celebration where winning teams were awarded their prize by the Fink Center.
» UCLA Anderson Gets $1 Million Charitable Boost from Joel and Deanne Fried
New gift will be used to match other donors' annual contributions
UCLA Anderson School of Management alumnus Joel Fried and his wife, Deanne Fried, have pledged $1 million to be used as a matching challenge to encourage support for the school from alumni and friends.
The Deanne and Joel Fried Anderson Fund Challenge will match each new or increased annual Dean's Society donation to the Anderson Fund. The Dean's Society recognizes those donors who make annual contributions to the fund of $2,500 or more, as well as students and new alumni who donate at least $1,000.
Dean's Society donors provide a foundation of critical support for the school, helping to sustain top-notch programs and provide support for many of the school's endeavors, ranging from student fellowships and alumni programs to faculty recruitment and retention.
"We are very grateful for the Frieds' continuing generosity, which encourages our donors to become engaged with UCLA Anderson," said Judy Olian, the school's dean. "The Frieds' matching program enhances the impact of gifts from alumni and friends and provides even added reasons to support UCLA Anderson."
The Fried Challenge is designed to match new Dean's Society donations dollar for dollar, with student contributions being matched at two-to-one. In addition, any upgrades made by Dean's Society members to their current gifts will also be matched.
"DeeDee and I believe strongly in the mission of UCLA Anderson," Joel Fried said. "We want to ensure that future Anderson students have the same opportunities to learn, grow and excel that I enjoyed during my time at the school."
Joel Fried is president and director of PRIMECAP Management Co. and co-executive officer and trustee of PRIMECAP Odyssey Funds. Along with two of his colleagues, he was awarded the Domestic Equity Fund Manager of the Year Award in 2003 by Morningstar.
Fried received his B.S. degree in economics/systems science from UCLA and his M.B.A. degree from UCLA Anderson (1986). He currently serves on the board of the UCLA Anderson Fink Center for Finance and Investments.
» Finance Faculty Research Published
Why are older people especially vulnerable to becoming victims of fraud? A new UCLA study indicates that older people may miss cues about trustworthiness!
Senior author of the research Shelley E. Taylor is a distinguished professor of psychology at UCLA. Co-authors of the research also include Naomi Eisenberger, a UCLA assistant professor of psychology; Mark Grinblatt, professor of finance at the UCLA Anderson School of Management; and Ian Boggero, a former UCLA psychology research assistant. The research has been published in the journal Proceedings of the National Academy of Sciences (PNAS).
» UCLA Anderson MFEs Win 2012 Trading Challenge Competition
This year a number of MFEs participated in the University Trading Challenge at NY's Baruch College. The challenge culminated in New York on November 16, 2012.
Press Release: http://www.prweb.com/releases/prweb2012/11/prweb10159408.htm
Congratulations to the winning team and all of the MFE students who participated in this competition.
Can Zhao, Class 2012
Hui Chen, Class 2012
Bo Wang, Class 2013
Yun Lei, Class 2013
Team 2 - Students from the Class of 2013
Ensu Yang (Best individual trader winner)
Pithawat Tan Vachiramon
» The Ross Investment Competition
The Ross Investment Competition was a two-day event, November 15th &16th, 2012 featuring 11 top MBA programs from both the U.S and Europe.
The participants included:
- Chicago Booth School of Business
- Columbia Business School
- Duke - The Fuqua School of Business
- Kellogg School of Management
- London Business School
- NYU Stern School of Business
- Richard Ivey School of Business
- Stephen M. Ross School of Business
- SC Johnson Graduate School of Management
- Tepper School of Business - Carnegie Mellon University
- UCLA Anderson School of Management
The competition consisted of two rounds where the teams presented in front of a panel of 8 judges (buy-side analysts, sell-side analysts, and portfolio managers). Prior to the event, the judges put together a list of 25 investment options and distributed the list to all registered participants. Each team had to select one investment option and put together a presentation to either buy or sell the security. In addition, each team had to develop a second presentation to recommend either a buy, hold, or sell rating for Ford Motor Co., in case the team was selected for the final round. For both rounds, each team was allotted 15 minutes for the presentation and 30 minutes for Q&A.
For the first round, we pitched Tractor Supply Co. (TSCO, buy rating, PT $112). We presented very well and made it to the final round. Three other teams made it with us: Michigan's Ross School of Business, Cornell's Johnson School of Graduate Management, and Carnegie Mellon's Tepper School of Business. For the final round, we all pitched Ford Motor Co. We placed second by recommending a hold rating and PT of $12. For the second place finish, we were given a SumZero Elite membership ($1,500 value). Ross, surprisingly enough, won the competition and was awarded a $5,000 grand prize.