With the help of financial investment leaders, the Miami University Investment Banking Club (MUIBC) has continued to help create a new generation of smart investors, even in difficult financial times.
Since its founding in 2004, the MUIBC helps students practice real-life investing skills, attracting recruiters from firms looking for interns and potential job applicants.
“Guest speakers from firms like Western Reserve, Bank of America and Berkshire Hathaway come to bring us a new perspective,” said Jamie Tolles, managing director of MUIBC. “They know more about the current industry because they work in it.”
The MUIBC also participates in Rise IX, the world’s largest student investment conference, held annually at the University of Dayton.
Aside from being a part of the MUIBC, each member can belong to one of two branches, the Investment Banking Club or the Asset Management Club. As part of these branches, Tolles said members invest their own money in stocks after consulting with other club members.
“(Each investment decision is) pitched to the group and voted on with the hope of future economic growth,” Tolles said.
According to John Budig, president of the Asset Management Club, the members focus on carefully examining future investments, deciding as a team where their money will perform the best.
Tolles said that the best investment decisions the MUIBC has made are with energy and genetic research companies.
“(Members of the Asset Management Club) look at the stocks and bonds and decide where the best place to put the money is,” he said.
The club considers these rough economic times as both a challenge and a career-shaping learning experience, according to Budig.
Although the MUIBC is suffering from the economic crisis, the members have found a silver lining. Budig said he believes student investors can learn to make smart investments in the midst of a crisis.
“It’s a tough time for investing for profit, but being able to learn in drastic times is helpful,” Budig said.
Budig said he thinks it’s a great time to be an investment student because he’s still in school and can learn from financial mistakes without risking drastic costs. Both Tolles and Budig said they recommend that students stay informed by following the news in order to make the best investment decisions.
“Read the New York Times, the free USA Today at dining halls and the Wall Street Journal or subscribe to the free Financial Times on Facebook,” Tolles said.
Budig said students should talk to professors and experienced investors.
“The more opinions you can get, the more objective viewpoints you can get,” Budig said.