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Sunday, November 30th 2008:
An article about the Colby Student Investment Association was published in the Colby Echo and a feature about CSIA was broadcast on the National Public Radio.
Thursday, November 20th 2008:
On November 20, the CSIA voted to increase its stake in Novo Nordisk (NVO) by purchasing $3000 at $37 per share. Recently, due to the turmoil in the equity markets and global economic downturn, NVO has lost over 30% since its initial purchase. However, the CSIA finds this current valuation grossly misjudges the value of ownership in this company. NVO has a favorable liquidity position, with no significant long-term debt, in addition to consistent cash flow generation and increasingly favorable operating margins. Additionally, the CSIA finds NVO's dominant position in the diabetes market, strong pipeline, and geographic diversity will facilitate NVO's continued success.
On November 20, the CSIA voted to increase its stake in Apple (AAPL) by purchasing ~$3000 at $80 per share. Recent turmoil combined with economic contraction, particularly in the United States, has caused AAPL to lose over 50% of its initial purchase value. Yet, the CSIA finds current market trends do not reflect the true value of AAPL. Fourth quarter earnings demonstrated that AAPL's premium products maintained anticipated growth projections, in spite of economic concerns. Moreover, the product and service lines AAPL currently provides, including its most recent addition of the iPhone, will contributed to the continued growth of AAPL. Moreover, AAPL's $25bn cash position, to which $9bn was added in the most recent quarter, combined with zero long-term debt place AAPL in a strategically advantageous position in this market.
On November 20, the CSIA voted to increase its stake in ICICI Bank Ltd (IBN) by purchasing an additional ~$3000 at $10 per share. The CSIA recognized that ICICI is currently one of the worst performing securities in its portfolio, losing nearly 70% since its initial purchase. The combination of the recent financial crisis, economic contraction, and high rates of inflation in India has contributed to the underperformance of this equity. However, the CSIA maintains that the long-term growth prospects (5 years) of IBN remain high. IBN is the second largest commercial bank in India, which population is growing at a pace that will soon make it the world's most populous country. Additionally, IBN has increasing exposure to other geographic regions of high growth – notably the Middle East and Russia. Additionally, in light of the recent financial crisis, the CSIA finds that recent moves by the Indian government to aggressively cut interest rates coupled with the continued stake in IBN maintained by the Indian government, IBN's conservative leverage position, and zero direct exposure to the subprime mortgages, place IBN in a relatively strong position to weather the current economic contraction and will place it in an even more advantageous position once this crisis has passed.
On November 20, the CSIA voted to purchase a stake in Coca-Cola Corporation (KO) by purchasing $6000 at $42.25 per share with a stop loss at $37 a share. The analysis of this investment is summarized by Nicholas Wijnberg in the attached document.
On November 20, the CSIA voted to purchase a stake in McDonalds Corporation (MCD) by purchasing $6000 at $50 per share with a with a stop loss at $45 a share. The analysis of this investment is summarized by Nicholas Wijnberg in the attached document.
Thursday, May 1st 2008:
Thursday, May 1st 2008:
Thank you to all those who took the time to apply for a board position. The Board for next year is as follows:
CEO: John Roberts
CFO: Lokesh Todi
VP of Research: Yilin Xu (Kevin)
VP of External Communications: Harry Goldstein
VP of Performance Measurement: Alex Clegg & Nick Van Neil
VP of Trading: Nick Wijnberg
VP of Internal Communications: Traver Elder
Thursday, April 17th 2008:
Thursday, April 10th 2008:
Thursday, April 3rd 2008:
Monday, 11 February 2008: