Parker Center for Investment Research
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Contents |
[edit] Parker Center for Investment Research
The Parker Center for Investment Research is one of two centers of research, learning, and practice in the Johnson Graduate School of Management at Cornell University. The Parker Center exists to facilitate research and teaching on equity valuation and other investment-related topics, including new knowledge that benefits practicing investment managers and security analysts. The Parker Center is located in Sage Hall on the Cornell University campus.
[edit] Core activities
The Parker Center meets its objectives through four core activities: sponsoring scholarly research; housing and maintaining a state-of-the-art virtual trading room for instruction of MBA students; sponsoring a student-managed equity hedge fund; and coordinating hands-on, practical learning experiences for MBA students.
[edit] Research
The Parker Center strives to produce and disseminate leading-edge research of critical value to practicing investment managers. Theory and new investment strategies are regularly tested in active trading by student managers of the Cayuga Fund, and by the faculty and investment-industry professionals who advise them.
[edit] Robert S. Boas Trading Room
The 32-seat Robert S. Boas Trading Room is a virtual trading room and classroom housed in the Parker Center. Its facilities include real-time stock quotes, international data feeds, and financial analysis software and data valued at more than $1.8 million per year in licensing fees.
[edit] Cayuga MBA Fund, LLC
The Cayuga MBA Fund is managed by a select group of second-year MBA students under the supervision of faculty and a board of directors. It serves to provide an opportunity for these students to both learn and to perform as fund managers. The fund currently has more than $13.5 million under management. It was founded in 1998, and now is closed to new investors. In 2006, the fund returned 14.2 percent.
[edit] Hands-on learning for MBA students
The Parker Center coordinates and sponsors special events designed to enhance the learning experiences of Johnson School MBA students, as well as students from other graduate business schools. One is the annual intercollegiate MBA Stock Pitch Competition, begun by Johnson School students in 2003. MBA students prepare for the competition by researching stocks, and then they pitch those stocks to a panel of industry experts, some of whom are potential employers. The Stock Pitch Competition has been covered by Forbes magazine.
[edit] Notable faculty
Sanjeev Bhojraj, Ph.D.
Faculty Director of the Parker Center
Associate Professor of Accounting
Charles M.C. Lee
Henrietta Johnson Louis Professor of Management
Professor of Accounting and Finance
Former faculty director of the Parker Center
(Leave of Absence through June 20, 2007)
Bhaskaran Swaminathan
Professor of Finance
Former faculty director of the Parker Center
(Leave of Absence through June 30, 2008)
David BenDaniel, Ph.D.
Don and Margi Berens Professor of Entrepreneurship
Johnson Graduate School of Management
Robert A. Jarrow, Ph.D.
Ronald P. and Susan E. Lynch Professor of Investment Management;
Professor of Finance and Economics
Johnson Graduate School of Management
Maureen O'Hara, Ph.D.
Robert W. Purcell Professor of Management
Professor of Finance
Johnson Graduate School of Management
[edit] Notable advisors
Jeffrey P. Parker, MBA '70, Chairman
Managing Director, Parker Family Limited Partnership
Previous Positions:
Founder and CEO of CCBN and First Call,
Chairman Thomson Financial Services
Abby Joseph Cohen, AB '73
Managing Director, Goldman Sachs
Jack M. Ferraro, MBA '70
Private Investor
Previous Positions: General Partner, Neuberger & Berman, LLC
Lee Kranefuss
Chief Executive Officer, US Intermediary Business, Barclays Global Investors
Richard A. Marin, MBA '76[1]
Formerly Chairman and CEO, Bear Stearns Asset Management; as of June 29, 2007, Advisor, Bear Stearns
Neal A. Shear, '78
Managing Director, Morgan Stanley
[edit] Reputation
The Cayuga MBA Fund, the student-managed hedge fund run from the Parker Center, consistently remains a strong performer, enhancing the reputation of the Parker Center and the research on which portfolio decisions are made. Writing on the "cost of equity," Esquire magazine in September 2001, financial columnist Ken Kurson was impressed with valuation tools being employed at the Parker Center for Investment Research. "Currently, the Parker Center's site calculates only two warranted ratios," Kurson writes. "Meanwhile they are hard at work computing other warranted values and I'm psyched: These tools are the freshest innovations in security analysis I've seen since I started studying stocks."
[edit] References
[edit] External links
- The Parker Center Website
- The Johnson Graduate School of Management Website
- The Cayuga MBA Fund Website
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