The Duke Investment Club is an equity mutual fund entirely owned and managed by students. Since the best way to learn about the financial markets is to actually participate in them, the Duke Investment Club is a great opportunity for students to gain real-world investing experience and become familiar with the financial industry. Currently the Investment Club has more than 250 student shareholders with approximately $30,000 invested in the equity markets. Our alumni network includes employees at many prominent investment banks and management consulting firms. If you would like to learn more about finance and investing, join the Duke Investment Club – no previous experience is necessary.
The Duke Investment Club has three levels of involvement:
Executive Board – The Executive Board represents the highest level of involvement. We try to foster a meritocracy within the club; therefore Executive Board members usually demonstrate their merit as analysts. Consisting of about 12 members, the Executive Board works closely with our analysts in all of our research activities. In addition to analyst and shareholder meetings, the board meets each week to handle operations, marketing, accounting, and strategic planning. The Executive Board involves a very significant level of responsibility and members are chosen by the acting Co-Presidents.
Analyst – The analyst program is a vital component of our research process. Students interested in taking a more active role in the club and gaining hands-on equity analysis experience are given the opportunity to apply for analyst positions each fall. The selection process is typically quite competitive and interviews are conducted by one of the club’s Co-Presidents and/or a senior member of the Executive Board. Freshmen and sophomores are especially encouraged to apply for positions. When selecting applicants, we place more emphasis on a student’s demonstrated work ethic and genuine desire to learn than on previous investing knowledge. Indeed, our best analysts are not necessarily the ones with the most prior experience. The best way to become an analyst is to prove your interest by being an active shareholder.
Once each year’s analyst class is selected, analysts and Executive Board members are divided into teams in order to monitor our portfolio holdings and research new stock ideas. Every two weeks, teams are required to present and debate stock ideas. Between meetings, teams are expected to work together to conduct thorough and thoughtful research. The art of equity analysis and investing is best learned through experience. Therefore, the benefit of being an analyst is proportional to the amount of effort applied.
General Shareholder – Shareholder meetings are held every 3-4 weeks throughout the school year. Attendance and participation are strongly encouraged, but not required of general shareholders. Buy and sell presentations are given at shareholder meetings, and all shareholders are given the opportunity to participate in the management of our fund by voting and actively participating in debate. In addition, meetings typically include an educational component, such as guest speakers.
Professors or guest lecturers from the financial world give instruction and insightful advice at meetings. Educational materials are handed out as well. Meetings may cover such topics as:
| Financial Statements Analysis | Valuation |
Investment Banking |
Interview Preparation |
| Sales and Trading | Consulting |
Membership:
To join, prospective members must purchase at least one share. We update our share price on a weekly basis and, when members choose to leave the club, their investment is redeemed at a share price reflecting the portfolio’s actual performance.