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Charles R. Blyth Fund1/13/2015
Organizational Changes
Organizational Changes
• The Blyth Fund will have 1 general meeting per week– Tuesdays 7:30 pm, in Thornton 110
(here)– Meetings will be speaker events or
market news discussions• Coverage Groups will be meeting 1
or 2 times per week
Analyst Requirement Changes
• General meeting attendance not required
• 75%+ Coverage Group meeting attendance required
• Satisfactory completion of Coverage Group-related work required
Pitches
Pitches
• This quarter, Coverage Groups will be delivering pitches
• A pitch is a recommendation to the Board of Directors about a potential investment– Board of Directors votes on whether or
not to buy stocks
Pitch Structure
1. Thesis2. Company overview3. Company stock status4. Catalyst Identification5. Financial Models6. Recommendation
Pitch Creation Process
1. Research sector and identify promising investments
2. Do further research and select best one
3. Perform due diligence on investment, construct thesis and compile evidence
4. Put together slide deck5. Rehearse
Winter Timeline
• Week 2: First Coverage Group meeting:
identify stocks to investigate• Week 3: Choose stock to pitch• Weeks 4 - 6: Perform research +
prepare pitch• Weeks 7 - 9: Deliver pitch• Week 10: No meetings 10/24/09Alumni Homecoming Reunion 2009
Restrictions
• Constitution mandates that the Blyth Fund can only invest in equities and ETFs listed on American exchanges
• Foreign companies must be cross listed on American exchanges
• Avoiding restrictions: use ETFs
10/24/09Alumni Homecoming Reunion 2009
Why do pitches matter?
• Because the Blyth Fund’s $175,000 portfolio performance depends on them
• The Blyth Fund will be looking to make ~5 new investments this quarter– All ~5 must be suggested by pitches– Opportunity to make an impact on a
large portfolio as a college student
Portfolio Rebalancing
• What: Blyth Fund will be liquidating about 1/3 of its portfolio to make space for new investments
• When: Directors will meet on Saturday 1/17 to vote on which positions to sell
• Why: To open space in the portfolio to acquire investments recommended by pitches this quarter
Portfolio Rebalancing
• Opportunity for members to impact portfolio:– All Blyth members may submit reports
detailing position they believe the Blyth Fund should sell
– The Directors will screen reports and invite authors of best reports to attend Directors’ meeting to present their cases
– Deadline is Thursday night– Strong reports will be published online
Portfolio Composition
Portfolio Composition
Portfolio CompositionTicker Symbol Company Name Description Market ValueAESYY AES Tiete Operates as an independent energy producer in Brazil. 3.6K
APA ApacheIindependent energy company, that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. 9.2K
BAC Bank of America
Provides various banking and financial products and services for individual consumers, businesses, investors, corporations, and governments. 15.6K
DBC PowerShares Commodities ETF Exchange Traded Fund 17.7K
DE Deere & CompanyManufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. 6.6K
EEM iShares Emerging Markets ETF Exchange Traded Fund 17.7KEWJ iShares Japan ETF Exchange Traded Fund 17.7K
GOOG GoogleBuilds products and provides services to organize the information. 5.9K
GOOGL GoogleBuilds products and provides services to organize the information. 6K
ITR SPDR Intermediate Term Bond ETF Exchange Traded Fund 17.7K
LNVGY LenovoDevelops, manufactures, and markets technology products and services. 17.7K
LVS Las Vegas SandsDevelops, owns, and operates integrated resorts in Asia and the United States. 4.4K
PM Phillip MorrisManufactures and sells cigarettes and other tobacco products. 3.4K
QCOM QualcommDesigns, develops, manufactures, and markets digital communications products and services. 9.9K
Portfolio Performance
Miscellaneous
Webmaster Search
• To apply, email [email protected] with:– Basic info:
• name,• class year• major
– Statement of Purpose– Links to relevant past work
Alumni Homecoming Reunion 2009
Webmaster Search
• Blyth Fund is looking for a Webmaster
• Responsibilities:– Compose weekly blog posts about Blyth’s events
and progress– Add content generated by Coverage Groups to
site in organize manner
• Requirements:– Web dev/programming NOT necessary (we use
Wordpress)– Visual design + writing chops necessary
Upcoming Talks
• John Powers, CEO of the Stanford Management Company
• Deepak Jeevankumar, Principal at General Catalyst
• Dates to be confirmed