Field Course: Stock Pitching
Course Number 6446
Professor Christopher Malloy
Spring; Q3Q4; 3 credits
Enrollment limited to 35
Enrollment in fall Investment Strategies 1446 is suggested, but not required.
Students pursuing careers in Finance, especially: fundamental hedge funds, VC, private equity, wealth management, mutual funds, financial consulting, and quantitative investing.
Stock Pitching is a FIELD-based course where the bulk of the work is done by the students outside of class. It focuses on the steps to developing a successful stock pitch. Specifically, students take their trading ideas from initial stage through to the final pitch. Stock (company) pitching is the dominant form of internal portfolio allocation in hedge funds, mutual funds, PE, and VC. The skills to do this successfully are critical to the students' success at these funds in terms of having assets allocated to their best ideas. Further, one of the most subtle (yet critically important) determinants of promotion and advancement within a fund is an associates' performance at investment meetings; a skill which is also developed in the course. Practically, even if students don't enter the asset management space, they will likely face the investment and asset allocation decision at some point in the future. For instance, they could be pitched by an RIA (Registered Investment Advisor) or wealth manager an idea or portfolio strategy. The skills they learn will be critical to separating truly good pitches from those that should be passed on.
Although the course is titled "Stock Pitching," it is much more generalized than public equities. Students have in the past developed very successful pitches in private equity, distressed debt, sovereign debt, credit default swaps (CDS), commodities, and currencies spaces.
Content and Organization
The course is organized broadly around a few key themes:
- Valuing assets and identifying misvalued assets
- Idea picking at the individual and strategy level
- Student led in-depth explorations of specific deals and trades