The McIntire Investment Institute, a student-run investing organization, elected new officers in December and will hold its first meeting of the new year today.
Third-year Commerce student Andy Schoonover will return as the president this year. He said there will be no major alterations in MII this semster.
"We currently own solid companies that we believe will be well positioned in 2000," Schoonover said.
However, MII is going to continue to expand their focus on education.
"We expect to give back financially to the Commerce School this year. We have gone two full years without any giving so we will make up for lost time this semester," Schoonover said.
The new Chief Financial Officer is Nate Gabig, a third-year College student. Other officers include Chief Information Officer Jeff Dunn, a third-year Commerce student, Public Relations officer Jason McDougall, a first-year College student, and second-year officer and College student Kip Saunders.
"The organization always produces strong, intelligent leaders to be fund managers and I would expect the same of this year's class," said Jay Lasus former MII Chief Information Officer.
Wolfy Joffe, fourth-year College student and former MII president said the club finished 1999 up 62.7 percent.
"That statistic brought our five year average annualized return to 31 percent, besting the S&P 500," Joffe said.
Lasus said the club aims to make solid long-term investments that can succeed regardless of what happens with the markets.
"For a long time, we have been trying to find some more small-cap stock investments about which we can really learn something that others do not know. Hopefully, we can achieve this goal in the following year. Also, we will continue to critically analyze our current holdings to see if we should make changes," he said.
People might join MII for a variety of reasons. They might be thinking about pursuing a career in the financial world. They might merely want to know how to manage their own income later in life.
"The great thing about MII is that anyone can join whether you are a Commerce student or not, if you have a lot of investing experience or none," Lasus said.
He said meetings usually begin with a brief update on the stocks the club owns. After that, he said there is a Fundamental of the Week, a financial tool that gives people a greater understanding of investing. Then there are one or two presentations of potential stock ideas.
"The meetings allow for a significant amount of time for comments/questions," he added. "From time to time, we will have a guest like alumni or our founder, John Griffin, but for the most part, the meetings focus on the students."
Schoonover will be giving a presentation at today's meeting, tonight at 5 p.m. in Monroe Hall, Room 124.
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