Professional Documents
Culture Documents
Class of 2009 Recruiting Presentation
November 28, 2007
About The Mayer Fund
• History
– Started in 1993 by William Mayer, the
then Dean of the business school, with
$250,000
– Grown over the years through capital
appreciation and outside contributions to
over $1.4 M. Bill Mayer one of the
contributors
• William E. Mayer
• Goals • Professor and Dean of the
Business School at UMD
– Capital appreciation and income from 19921996
– Education • Chair of the Maryland
– Enhance school’s reputation College Park Foundation
– Pay 5% dividend to the school
About the Mayer Fund
• Investment Approach & Strategy
– “Top down” approach
– Growth at a reasonable price (GARP)
– Modeling intensive
– Process driven
• Organization & Culture
– Run by a select group of second year MBA students
– Selection based on analytical ability, knowledge of the
capital market, passion for finance and most importantly
the ability to work with others
Current Members
Portfolio Managers:
– Eric Olesh
– Bill Song
Equity Analysts:
– Qi Guo (Alex) – Industrials
– Fang Fang – Consumer Staples
– Jonathan Steele – Financials
– Rahul Prabu – Techonology
– Chananate Niyamosot (Fai) – Discretionary • This year’s Mayer Fund includes 2 students from
India, 1 from Thailand, 2 from China, 1 from Taiwan
– HsuehWen Chu (Denny) – Healthcare
and 1 from Alabama
– Siddharth Mathur – Telecommunications • Seven are bilingual
– Alex Obaza – Energies • Diverse backgrounds: technology, healthcare,
military and finance
• Leaders at the Business School: 2 club presidents
and several VPs
Faculty Advisor: Sarah Kroncke
Portfolio Manager
Responsibilities
• Market commentary
• Lead sector weighting
decisions
• Facilitate buy/hold/sell
decisions
• Track performance
• Run meetings
• Manage external relations
• Oversee brokerage
accounts
• Budgeting responsibilities
• Administrative items
Analyst Responsibilities
• Evaluate and monitor sector
• Track industry trends and current
events
• Screen industry for potential buying
opportunities
• Develop DCF and relative value
models to value companies
• Make buy/hold/sell
recommendations
• Pitch investment ideas
“I think you have to learn that there's a company
behind every stock, and that there's only one real
reason why stocks go up. Companies go from doing
poorly to doing well or small companies grow to large
companies.”
Peter Lynch
Performance (6 Months)
Best Performers
Fiscal Year % of Weekly Performance
Return* Portfolio
McDermott International 145.86% 3.26%
Nokia Corp 61.96% 2.98%
America Movil, S.A. 38.15% 2.52%
Intel 36.46% 1.80%
Invitrogen 33.07% 1.90%
Worst Performers
Fiscal Year % of
Return Portfolio 16.14%
E*Trade -35.28% 1.59% 13.96%
Coach Inc. -9.47% 1.78%
9.97%
Merrill Lynch -7.38% 2.35% 7.63%
CitiGroup Inc -5.51% 3.57%
Complete Prod Svc. -4.71% 1.79%
From 4/1 Through 10/10
Benefits for You
Where Are Mayer Fund Alumni?
• Attractive experience to employers
• Application of everything from MBA
program to real world
• Exposure to a reallife asset
management environment
• Financial modeling skills
• Opportunities to network
• Surrounded by really smart and
ambitions people in a collegial
setting
• Six credits during the second year
• Hone communication and sales
skills
Typical Mayer Fund Member
• Enthusiastic, motivated to be
on the Fund
• Dependable
• Team Player!!!
• Think Analytically
• Communicate Effectively
Requirements
• Completed core and on track to graduate by May 2009
• Take BUFN 702 Equity Analysis during 2nd semester of 1st year or 1st
semester of 2nd year
• Be available during the day when Team meets (twice a week during the
day)
• Commit 14 months to the Fund (from March 2008 through May 2009)
– Make effort to attend meetings with current members starting in
March
– Participate in the End of Year presentation on May 14, 2007
– Manage the Fund during the summer (weekly sector updates)
• Submit application and interview in February 2008
The Application
• Cover Letter
– Brief background/experience
– Reasons why you want to be in the Mayer Fund
• Stock Report (No more than three pages typed, not including exhibits,
double spaced, 12pt, Times New Roman font)
– Economic Overview
– Industry Overview
– Company Selection & Overview
3. Honor Code (honor violations forwarded to honor committee)
Tips for stock report by Warren Buffet:
"I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would
know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because...”
The Application
• Resume
• Copy of Current Transcript
– Unofficial printout from web is acceptable
• List of Finance Electives (current and future)
• Sealed Envelope with your fund preference (If you apply to both
the Mayer and New Markets funds, you must make a selection in
case you are accepted to both.)
– **Put TWO copies of the package under the Mayer Fund door,
Graduate Lounge Office, by Monday, February 4th at 9am**
The Interview
• Held on a Saturday (February 9th)
• Lasts about 2 hours
• Conduct 4 to 6 interviews
– Technical (basic accounting and financial skills from core classes)
– Market and macroeconomic knowledge
– Case
– Fit
• Purpose is to assess:
– How serious you are about being on the Fund
– How well we think you’ll get along with the other members
– How well you think analytically
– How well you communicate
Timeline
• Application Due: Monday, February 4th, 9:00am
– Slide under the door of VMH Graduate
Lounge Mayer Fund Office
– We will email you to confirm receipt
• First Round Selections: Thursday, February 7th
– Decisions will be emailed by 4pm
• Interviews Held: Saturday, February 9th
– 2 hours, various times (fitmarket
technical)
– This is a Saturday, so please plan
accordingly
• Final Selections: Friday, February 15th
Final Words
• Be Confident
• Good Luck
• We are just as anxious as you