The meeting started at 9:10 pm. Cheers to Bryn Mawr time! Although from next week we will be starting our meetings at 9pm sharp.
Dingwei, our OIG president, gave a quick introduction about establishment of Owl Investment Group (OIG) in 1976. Then, the OIG executive board introduced themselves to the members. Following that, the general members introduced themselves as well and talked about their intent of joining OIG.
After that Dingwei went over the past events hosted by OIG such as Bryn Mawr Work series, which is also going to continue this year. She also talked about Bryn Mawr achieving sixth position in Adirondack Competition last year. Adirondack Cup is a competition whereby the participating teams will create their own hypothetical small cap portfolio for six months. The team with the best return in six months wins the cup. The Bryn Mawr team for this year’s Adirondack Competition will be announced soon.
Then Bryce, our Portfolio Manager, talked about Portfolio Management Team. Portfolio Management team basically manages the portfolio owned by Bryn Mawr. It is, in simple words, for the students and managed by the students. She talked about last year’s portfolio which consisted of 17 investments, out of which few were legacy investments. After a thorough cleaning of the portfolio, now our portfolio consists of only one investment-McDonalds and is worth around $126,000,a little more than last year. Then, the new Portfolio Management team for this year was announced. The team members introduced themselves and talked about their financial backgrounds.
After the announcement, Dingwei gave a brief market update, which showed S&P 500 and Dow had reached record high! As OIG invests in both domestic and international markets, everyone watched video about how markets might react to the Fed’s decision. Then Bryce informed everyone about Fed’s decision, which was delay in tapering quantitative easing.
As there were many new members present in the meetings, Dingwei and Bryce talked about the difference between bonds and stocks.You can know more about the difference by visiting this site: http://www.diffen.com/difference/Bond_vs_Stock
The meeting ended at 10 pm.
Congratulations to our new portfolio management team. See you all next Wednesday,9 pm sharp!