Emory University – Goizueta Business School – Dooley Capital
What is your investment strategy? In simple terms describe your investment approach.
The investment strategy is a short-term return reversal strategy based off of research by Jegadeesh (1990 Emory) and Da, Liu, & Schaumburg (2014). We essentially look for the top/worst performers in the S&P 500 each month and go long the poor performers and short the top performers. In addition we use analyst data to try to focus in on the stocks we believe had returns that weren’t tied to fundamental factors. The thinking is that in the short term, some stocks will be overvalued/undervalued based on investors overreactions and that given time the price of the security will normalize.
What do you think about the markets now?
If you ask 100 investors, probably 99 will say that the market is a little rich right now. I would have to agree with them. The economy is doing decently but not well enough to support the rich valuations in the stock market. Weak wage growth is especially concerning to me because at some point the labor force will likely lose their optimism.
The near future is primarily being driven off of action in DC. The market loves certainty and right now the market has no idea what policies will be implemented. This is an opportunity for traders as they can try to catch the gainers and losers, but make for a bumpy ride as an investor.
The team as a whole is very diverse. David Eiras (2018) joins us from the Alliance Manchester Business school and leans towards the emerging technologies and Venture Capital space. Will Thies (2019) is a Engineer out of Georgia Tech who found a passion for the markets and has spent the past year starting up his own investment fund in addition to his full time engineering gig and applying to Business School. Abhishek Patro (2019) is a former Googler looking to leverage his experience in strategy and financial analysis into a possible capital markets role . Neal Quirk (2019) is a Financial Advisor turned I-Banker who is Series 7, 66, & 31 licensed and looking refine his skill set here at Goizueta before returning to Investment Banking. Alex Ontiveros (2018) is a former Municipal Bond trader who is Series 7, 66, & 52 licensed and looking to step into the portfolio management space after finishing the Goizueta Accelerated One Year MBA.
The Peeptrade University Challenge has been a great experience so far. It is great to talk shop with other students about what does and doesn’t make sense in the market all while representing the Goizueta Business School. I look forward to the last month of the program and hope that our investment thesis can take us to Chicago where we can meet some of these other schools in person. Thanks!
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