UFA's Annual Report 2007-2008

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Carnegie Mellon UniversityTepper School of Undergraduate Business

President: Jyoti Joshi Vice President: Victor TamTreasurer: Lisa HsiehMarketing: Ann ThomasSecretary: Kristin Carew

Activities Director: Neil SethiChief Technology Officers: Nitin SeemakurtyJohn Bennett

Senior Advisor: Sudeep Paul

Undergraduate Finance Club

Annual Report 2007-2008


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Table of Contents

Our Mission Page 3

Professor Dinners Page 4

Wall Street Intern Panel Page 5

Wall Street Crash Session Page 6

Fidelity Investment Presentations Page 7

Corporate Finance Case Competition Page 8

Guest Speaker: Chester Spatt Page 10

PNC Bank Trading Floor Tour Page 11

Freshmen/Sophomore Case Competition Page 12

UFA Social Page 13

Guest Speaker: Ziv Ragowsky Page 14

Equitrader Presentation & Competition Page 15

April/July Events Page 16


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Mission

Our mission is to prepare Carnegie Mellon Students interested infinance with the tools and education needed for a successful career. To

this end, the Undergraduate Finance Association helps develop students'

interest in finance, and augment the current Finance Track educationwith extracurricular workshops and events. In an effort to promote the

interests of our members to finance professionals and recruiters, we alsosponsor programs to increase the presence of Carnegie Mellon'sUndergraduate Finance and Business programs in the financial

community. To provide valuable insight to students, we have developedand maintained a network of alumni and friends in corporate finance and

the financial industry.UFA was rebuilt in Fall 2002, and we have been growing ever since.

We are the largest business organization on campus, with over 500members on our distribution list. From this, we have a core group of 80-100students who participate in many of our events. For more information and

details about our club, please visit www.cmufinanceclub.com.


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Professor Dinners

9.26.07

Professor dinners are an excellent opportunity to get to know faculty

members who teach large classes and dont always have the chance to

talk to students one-on-one during lecture. During these dinner events, aprofessor from the business or economics departments will dine out with agroup of 8-10 members of the Undergraduate Finance Association.Attendees are selected on a first-come, first-serve basis through an RSVP

system on the UFA website.

Our most recent dinner was with Professor Cofield of theundergraduate business department, during the 2007 fall semester. This

dinner in particular was an excellent opportunity for some of our freshmanmembers, as all business administration students take Dr. Cofields Intro to

Business course during the fall. Other past participants in the dinners

include math finance professor Muzaffer Akat and businesscommunications professor, Patrick McGinnis.


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Wall Street Intern Panel

10.24.07

A question and answer session with students who have hadinternships with firms on Wall Street the previous summer. Each student on

the panel shares his or her experiences over the summer, such as dailyroutines and responsibilities, the different departments, and any interesting

stories. The setting is relaxed and candid, which allows students to ask anyquestion they desire. The event had 57 participants.


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Wall Street Crash Session

10.24.07

This presentation, given by executive board members and former

Lehman Brothers interns Jyoti Joshi and Sudeep Paul, provided a crashcourse in investment banking for undergraduates interested in finance,specifically jobs on Wall Street. All of the major aspects of an investment

bank were covered, including capital markets, investment banking,investment management, and other departments.

For those considering working in the field, the pros and cons of WallStreet careers and internships were discussed, as well as the working

environment and corporate culture of investment banks. Financeterminology and major players in the industry were reviewed fornewcomers to the subject. In addition, the presenters reviewed the typical

qualifications sought by investment banks, the hiring process, and thehierarchy of an investment bank.

The session concluded with an open question-and-answer forum.

Many of the attendees asked questions concerning summer internships,ranging from topics such as interviewing and salary to living expenses and

housing. The event attracted 47 students.


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Fidelity Investments Presentations

10.30.07 & 11.5.07

UFA invited Fidelity Investments to speak at CMU on two separateoccasions. The first of the two was an introduction into technique analysis,

a technique used by professional traders, which involves examiningcandle stick and bar chart formations. Students learned how to evaluate

these charts and how traders use these charts to enter and exit tradingpositions. In addition, students learned basic chart formations such as

head and shoulders, reversals, and engulfing formations, which can helpstudents with their own investment portfolios. 56 students attended theevent.

The second event was a presentation given by wealth managers of

Fidelity. They provided insight into their job and talked about the varietyof securities available in the market, including bonds, equities, andtreasury bills. He also taught students the importance of saving andinvesting their money, since interest from the banks barely beats inflation.

At the end of his presentation, he mentioned some free resources through

Fidelity and the internet that can help students get started with investing.There were approximately 50 students who attended the event.


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Corporate Finance Case Competition

11.10.07

This year, our annual corporate finance case competition wassponsored by Wachovia Securities. Students from all majors were

welcomed to participate, as long as they had completed Finance. Thecase used this year involved the Calpine Corporation, a power

production company, and its plans to implement a new growth model.The case gave the participants three possible scenarios that the Calpine

Corporation considered in 1999. The judges were Peter Seok, a Wachoviaanalyst, and Shimon Kogan, a professor of finance at CMU. Wachoviaalso awarded a $200 prize to the winning team. The case competition

had 4 teams with 5 participants per team.


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Guest Speaker: Chester Spatt

11.14.07

Chester Spatt served as the Chief Economist and Director of theOffice of Economic Analysis at the Securities and Exchange Commission

for three years. The presentation given by Dr. Spatt focused on his workand experiences at the SEC, the current liquidity crisis in the financialmarkets, as well has his role as Chief Economist at the SEC. At the SEC, Dr.

Spatt led the staff's economic analysis of key issues includingimplementation of options expensing through models and markets,

mutual fund market timing and late trading, option grant and exercisebackdating, and executive compensation. 27 students attended the

event.


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PNC Bank Trading Floor Tour

2.19.08

In an effort to reach out to the businesses around Pittsburgh, UFAco-hosted a corporate tour of PNC Bank in downtown Pittsburgh with the

professional business fraternity, Alpha Kappa Psi. There wereapproximately 15 members that attended the event from both

organizations. The corporate tour was divided into two different sessions.In the first part of the tour, representatives from the capital markets division

gave an overview of what their jobs entailed. In addition, there was ashort question and answer session between the attendees andrepresentatives.

The second part of the tour was a visit to PNCs trading floor. There,

students were exposed to the various areas of capital markets, such ascurrency trading and derivatives. Students were also given the chance tospeak to and question the traders on the floor, which led to developedinsight into capital markets and the corporate environment of PNC. At the

conclusion of the tour, students were given some gifts and information

regarding possible internships available at PNC Bank.


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Freshmen/Sophomore

Case Competition

2.24.08

This years annual freshmen/sophomore case competition,sponsored by PNC Bank, successfully drew 25 participants from all majors.

This year, the teams were tasked with consulting for Bally Total Fitness at

the turn of the century. The case detailed the problems Bally faced ascompetition in the fitness industry increased. This was invaluable

experience for underclassman to get their first taste in a case competition.Meanwhile, the case was designed to be very open-ended, allowing for

creativity and exploration. Teams were asked to present theirrecommendations and PNC sent three representatives to judge the eventand award our winners with prizes. The competition had 5 teams with 5

participants each.


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UFA Social

2.27.08

This event was focused on allowing UFA members to get to know

one another. It also allowed new members to meet some of the

upperclassmen. Younger students were able to obtain advice fromstudents who have gone through similar situations; students were talkingabout what classes to take, what track options were available, and justgeneral college life. It was a very informal gathering, which allowed the

students to feel more comfortable and talk easily with one another, as

opposed to the lecture type events that UFA typically holds. We hadabout 20 students attend, and pizza/soda was provided.


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Guest Speaker Ziv Ragowsky

2.29.08

In a joint event between Undergraduate Consulting Club, ZivRagowsky, a consultant who works for McKinsey, spoke about his

consulting experiences and the private equity industry. He went over thebasic structure of a private equity firm, and the latest trends in that

industry. He also talked about the differences between the responsibilities

of an investment banker versus a consultant, specifically the differenttypes of models each role uses to analyze problems. The event attracted32 students.


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Equitrader Trading

Presentation & Competition3.27.08

CEO Doug Rivard from Equitrader came to Carnegie Mellon to

speak about the basic stock terminology and introduce their marketingsimulation platform. Equitrader.com is a website that runs stock simulationgames and rewards the winners with real money and prizes. The website

differentiates itself from its competitors with many different features. Forinstance, the market information driving the simulation is real-time data,

while competitors usually have a 15 to 20 minute delay for their platforms.In addition, the website has a coder platform, allowing quantitative andalgorithmic driven traders to create their own computer programs and

test them against the markets.The presentation concluded with an online stock competition that

was held in conjunction with the Undergraduate Investment Club. The

competition will span over the month of April and will be open toCarnegie Mellon Students only. 17 students attended the presentation.


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Upcoming Events in April/July

Alumni Panel | 4.19.08

A question and answer session with Carnegie Mellon Alumni who are

working in finance. Students get to an opportunity to ask questions aboutthe career paths of the alumni and get tips on school. The event is heldevery spring during carnival.

Finance/Marketing Case Competition | 4.26.08

A joint case competition with the Undergraduate Marketing Club,designed to combine aspects of marketing and finance to solve a case.

Each team will be comprised of 2 marketing students and 2 financestudents. The competition is open to all majors who have taken either

Marketing or Finance.

UFA Golf Outing | Late April

A social event designed to bring UFA members together as well as teach

a viable business asset. Students will split into smaller groups and play golfat Schenley Parks golf course. There will an option for those who havenever played to receive lessons from peers or Schenley Parks golf

instructors. There will also be an option for those who are moreexperienced with golf to play with other experienced individuals.

Network New York | July

Every summer, UFA holds a large networking event in New York City. Itattracts over 30 recruiters and 100 students who working in the area. The

event is a pure networking event, and students are not allowed to bringtheir resumes. The event allows students to practice their communication

skills and gives them a chance to talk to many different recruiters in theNew York area. Upon the completion of Network NY, a compiled resumeof all the students resumes is sent to the recruiters who attended.

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UFA's Annual Report 2007-2008

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