Changes
to syllabus after
Course Syllabus—Spring 2010
Instructor: Stephen P. Huffman, Ph.D., CFA, FRM
Times: Tuesday, Thursday 1:20 to 2:50 for section 001
Course Location: Swart Mac Computer Lab
Office Location: Clow Faculty 206 E-mail Address: HUFFMAN@uwosh.edu
Course
Goals and Course
Expectations
§ Course Outline
and Dates (IMPORTANT--GO TO THIS LINK)
§ Grading Criteria and Policies
§ End of Chapter Questions and Problems
(IMPORTANT—GO
TO THIS LINK)
§ Examples of Acts of Misconduct
and Penalties
Common Finance Course Assessment Objectives for BUS-432--Students
will be able to:
· Explain and apply basic concepts of finance,
·
Analyze and interpret financial data,
·
Demonstrate knowledge of investment management.
Learning objectives of this course are for each
student to be able to:
Course Goals and Objectives:
The goal of this course is for each student to use his/her finance background to make decisions related to managing an investment portfolio. The requirements for this course provide the students with the opportunity to analyze securities and manage investment portfolios.
The specific objectives of this course are for each student to be able to:
· Obtain, compile, and review data related to the current investment environment for the economy, market, assigned sector(s) and publicly traded company
· Review and implement a target asset allocation (e.g., type securities, size, sector, etc.)
· Execute the investment strategy (e.g., review and revise portfolio holdings)
· Analyze, value, and make recommendations (e.g., buy, hold, sell) for various securities including: Fixed income securities, Common stocks, Mutual Funds, and Exchange Traded Funds
· Calculate and evaluate returns for each fund's portfolio and benchmark
· Use derivative securities to hedge the portfolio and to increase/decrease the systematic risk of the portfolio, the interest rate risk of the portfolio, and the foreign exchange exposure of the portfolio
· Prepare report documents and make presentations
.
1.
Business Knowledge: Integration of
functional areas
a. Finance product development (e.g., index funds, ETFs, hedge funds, etc.)
b. Promotion of financial products (e.g., insurance products and mutual fund performance)
c. Impact of financial data on investment decisions (e.g., calculate returns and risk measures from price data obtained from a web site)
2.
Business Environment
a.
Diversity and Global Business Issues
i. Cultural differences in investing (e.g., asset allocation)
ii. Impact of foreign currency exchange rates on valuation
iii. Importance of diversification on risk/return and value
iv. Significance of global events (international agreements, wars, etc.)
b. Business
Environment—Ethics
i. Impact of ethics on firm value (e.g., Enron)
ii. Importance of internal controls (Nick Lessen of Barrings Bank (1995—$1.3 billion loss) and Jerome Kerviel of Societe Generale (2008—-$7.16 billion loss))
iii. CFA Institute: The code of ethics and standards of professional conduct
3.
Business Skills
a. Communication Skills
i. Students are required to discuss current articles in financial press
ii. Required use of D2L discussion board to evaluate current investment environment
b. Project Management Skills
i. Students complete a series of requirements during the course
c. Analytical Thinking & Problem Solving Skills
i. Assignments require students to gather data, organize the raw data, and analyze data
d. Interpersonal and Leadership Skills
i. In-class exercises with current articles requires the group discussion
e. Work Experience
i. Students are penalized for unprofessional conduct (e.g., phone ringing)
(1)
Text: Reilly, Frank K. and Edgar A. Norton. Seventh
Edition, Investments, (South-Western a division of Thomson Learning,
2006). (ISBN 0-324-28899-9)
Soft cover is okay.
Text's web site for update material is http://reilly.swcollege.com/
(2) I require that all 432 students subscribe to The Wall Street Journal (WSJ). Students are eligible to subscribe at the special educational rate of $34.95 for 15 weeks. Go to the link http://subscribe.wsj.com/semester to submit a WSJ subscription.
(3). Required subscriptions to Stock-Trak (trading begins February 8, 2010 and ends April 30, 2010). Students must register for these simulations using the following two web sites. The first is for an actively traded portfolio for 12 weeks and up to 200 trades for a cost of $26.95. You are also required to subscribe to a buy and hold (passive) portfolio with 20 trades and an additional cost of $6.00. Your total cost will be $32.95 (register for both “courses”).
http://www.stocktrak.com/public/members/registrationstudents.aspx?p=432active10
http://www.stocktrak.com/public/members/registrationstudents.aspx?p=432buyhold10
(4) Financial Calculator: the student’s calculator should be able to
make time value of money computations. The student is responsible for knowing
how to use a financial calculator.
(5) Handout Materials and Materials found on D2L web site: supplemental articles and readings will be distributed in class or via e-mail/web site/D2L during the semester. Students should check their e-mail prior to coming to class.
Students enrolled in this course are expected to have a basic understanding of:
· Basic finance concepts (e.g., time-value-of-money, risk and return, bond valuation, net present value, etc.—topics from BUS 331),
·
Fundamental business and economic concepts (e.g., types of business
entities, marginal cost, marginal revenue, etc.—topics from ECON 204
· Accounting (BUS 204),
·
Mathematics (
·
Statistics (ECON 210
· Basic Investments (e.g., ETFs, mutual funds, stocks, bonds, derivatives, margins, short selling, limit orders, stop-loss orders—topics from BUS 334)
Course work includes activities that require the use of a
financial calculator and the use of electronic spreadsheets (i.e., topics and
skills from BUS 389). Assignments require that students use Excel
for: calculating descriptive statistics,
finding minimums/maximums (using the add-in solver), testing mean differences,
performing regression analysis, and creating graphs/charts. In addition, students will need to acquire
skills in obtaining data from electronic data bases and/or from the
internet. Students who are not deficient in the
areas mentioned above can expect to spend at least 6 hours per week
preparing for the course. Students who are deficient in one or more
areas mentioned above will need more time to prepare for class.
If a student does not agree with a grade, the student has two weeks from the posting of the grade to contest it. For the final course grade, students have two weeks from the end of the semester to contest the grade. After two weeks, I will not be willing to spend time with students to discuss their final grade or their final exam (unless a documented reason for not having a conference within the allotted period is provided). I will post course grades on TitanWeb. Students are responsible for verifying that the scores recorded in D2L are correct—after two-weeks I will not correct the recorded score.
|
Allocation of Letter Grades |
||||
|
A |
Scores of 93% or higher |
C |
Scores from 73% to 77% |
|
|
A− |
Scores from 90% to 92% |
C− |
Scores from 70% to 72% |
|
|
B+ |
Scores from 88% to 89% |
D+ |
Scores of 69% |
|
|
B |
Scores from 83% to 87% |
D |
Scores from 66% to 68% |
|
|
B− |
Scores from 80% to 82% |
D− |
Scores of 65% |
|
|
C+ |
Scores from 78% to 79% |
F |
scores less than
65% |
|
Grading Criteria, Policy, and Tentative Dates:
|
Weighting |
Component |
Tentative Date(s) |
|
15% |
Exam 1 |
|
|
10% |
Exam 2 |
|
|
10% |
Exam 3 |
May 13 in Class (location: CC 23) (Day 28) |
|
5% |
Group--Economic Analysis (4
groups) |
|
|
5% |
Group--Market Analysis (6
groups) |
|
|
5% |
Group--Sector Analysis (12
groups) |
Remaining 6 presentations and
reports due on March 16
(reports to D2L discussion, by noon, Day 13) |
|
1% |
Individual Company
Valuation DRAFT |
|
|
9%
|
Individual Company
Valuation Project |
|
|
5% |
Company Analysis PowerPoint
& 5 minute Presentation |
April 20or
April 22 (Day 21 or 22) PowerPoint presentation due
to D2L discussion area by noon |
|
10% |
10 Weekly Stock-Trak Explanations |
Each Tuesday beginning |
|
2% |
2 minute Stock-Trak Presentation |
May 4 and May 6 (Day 25
and 26) Power point due by
noon to D2L discussion |
|
10% |
Final Stock-Trak Report |
May 11 due to D2L dropbox, by noon (Day 27) |
|
2% |
Daily financial article discussion |
Each class period (2 per
student during term) beginning |
|
1% |
Daily market analysis
discussion |
Each class period (1 per
student during term) beginning |
|
2% |
Attendance |
1/25th per class
(4% per class, but each student starts with 102%) |
|
8% |
Contribution and Professor’s subjective
judgment |
See below |
Other Important dates:
No Class on March 18 (test in the
Testing Center) and
No Class on April 15 (test in the
Testing Center)
Examinations: Three exams are given during this course.
Three Group Projects are required (15% of total grade). Each project requires a one page executive report with citations and/or URLs (include key printouts) used to make predictions, including a description of how the group arrived at the forecasted value. Each project requires a brief presentation to the class. Group projects are turned in using the discussion area of D2L and are available to all students in the course. A template is provided in the D2L discussion area for each project.
All group projects are subject to moral hazard. On the due date of the group projects, I will ask each student four questions about what was turned in and about the performance of the group members. Specifically, 80% of a student’s grade is the group grade and 20% is from the in-class questions. The in-class questions will be like the in-class questions I asked when I collected the 334 assignments last semester. If a student is absent on those dates, the most he/she can earn on the group project is 80%.
1. Economic
forecast--The assigned group forecasts the annual rate of growth for GDP
for the next year and the following 5 years.
Specifically, the project requires that all groups make a GDP forecast
for the world economy and the assigned economy (US, Europe, Asia,
Emerging Markets). In addition to the
GDP forecast, justification for the forecast should include discussions
about: political environment, regulatory
environment, monetary policy, fiscal policy, GDP components, inflation,
interest rates (short-term and/or long-term), currency exchange rates, and
other relevant economic and non-economic factors. A template is provided in the discussion area
of D2L.
3. Sector forecast—The
assigned group forecasts the growth and index value of the assigned Morningstar
sector for Friday, May 7,
and the end of the current year. Key
industry/sector issues should be cited and used to support the forecasted
value. A template is provided in the
discussion area of D2L.
Individual Company
Valuation and Presentation (15% of total grade)
Each student selects a company from his/her assigned sector/industry to evaluate. The project requires a format used by CFA Institute’s Global Investment Research Challenge (outline in the next section). Each student will make a 5 minute presentation of his/her key findings and his/her buy/sell/hold recommendation on April 20 or 22 (Day 21 and Day 22) and include a one page summary of his/her stock in the discussion area of D2L in the appropriate sector, which is required to be posted by April 20. All students (including those presenting) are required to pick three stocks from the individual company presentations to purchase and one stock to short in their active portfolio in Stock-Trak (for both days).
Outline of Individual
Company Valuation Report
The objective of the valuation project and presentation is to value a company from the assigned Morningstar sector that the student picks. The template for the report is from the CFA Institute’s Global Research Challenge. The basic outline is as follows, where student discuss and analyze of the topic as it relates to their company (and/or the industry/sector of their company) :
4 to 5 Minute
Individual Company Presentation
Stock-Trak Project requires weekly trades, explanations, and a final report (22% of total grade).
Two portfolios are tracked for each student. One portfolio is passively managed after the first week, and the second portfolio is actively managed given weekly requirements. The portfolio has a total return objective.
Week 1(trades from Feb 8 through Feb 12): Students purchase (broad index) ETFs to construct a portfolio that is consistent with the following asset allocation guideline (at market value). For the fixed income portion of the portfolio, students use a combination of Treasury Bonds and fixed income ETFs (or ETNs). Limit the amount invested in only one ETF or ETN to $100,000. Commodities can be purchased in the cash market (corn, wheat, gold, silver, and major currencies) or using an ETF; however, the real estate exposure must be obtained using an ETF on a broad real estate index. The passive and active portfolios should be established with approximately the same holdings and weights (i.e., same trades and same returns during the first week). I suggest placing these initial orders when the market is open (i.e., after 3 pm). The passive portfolio should not need to be adjusted during the remainder of the term.
|
Asset Class |
Target |
Minimum |
Maximum |
|
|
40% |
30% |
75% |
|
|
10% |
0% |
25% |
|
Non-U.S. Stocks |
20% |
0% |
25% |
|
Fixed Income |
20% |
15% |
60% |
|
Real Estate |
3% |
0% |
10% |
|
Commodities including currencies |
3% |
0% |
10% |
|
Cash and equivalents |
4% |
0% |
15% |
Week 2 (trades from Feb 15 through Feb 19): Stops,
shorting and buying on margin
1. For the active portfolio, establish at least three stop loss orders for the ETFs in the existing portfolio (e.g., set the stop price at about 10% or more below the current price).
2. Students establish a margin account by borrowing funds (i.e., in Stock-Trak, the margin loan occurs automatically when more securities are purchased than the cash that is available and/or by short selling). That is,
(a) buy additional shares of at least three ETFs in the existing portfolio (purchased in the first week) and
(b) short sell a health care sector ETF. The sector ETF will reduce your exposure to health care.
3. Target the active portfolio value to be at least $1,400,000.
Week 3 (trades from Feb 22 through Feb 26): Rebalancing and buying mutual funds, levered ETF and an ultra-short ETF
1. Replace (i.e., sell) 20% of the large cap ETFs by purchasing an index mutual fund, and sell 20% of the small cap ETF by buying an actively managed small cap mutual fund(s).
2. Increase the systematic risk of U.S. securities by selling regular broad index ETF and purchasing levered ETF like those from ProShares (e.g., Ultra S&P 500 with ticker of SSO).
3. Reduce exposure to international equities by purchasing an Ultra-Short ETF like those from ProShares (e.g., Ultrashort MSCI Japan with ticker of EWV).
Week 4 (trades from March 1 through March 5): Based on expectations of commodity prices,
currencies, and interest rates, establish futures positions in commodity,
currency, and bond (avoid purchasing a contract that is expiring in the current
month).
1. Use futures contracts to increase (or decrease) the percent of commodities and non-U.S. currencies in the active portfolio by at least 3% of the total value of the portfolio (e.g., if the current portfolio value is $1,500,000, then increase holding of a commodity by an additional $45,000 based on the notional, or contract, value of the futures contract).
2. Increase (or decrease) the interest rate risk of the active portfolio by using a bond index futures by at least $100,000 in notional value. That is, buy T-bond futures to increase interest rate risk and sell to reduce interest rate risk.
Week 5 (trades from March 8 through March 12): Futures transactions in equity market and adjustments for sector weightings (avoid purchasing a contract that is expiring in the current month)
1. Based on expectations for the equity market, increase (or decrease) the systematic risk of the portfolio by using index futures (by buying or selling equity index futures). If the portfolio does not have sufficient cash for the margin required by the futures contract, then shares of ETFs will need to be sold.
2. Adjusting sector weighting, leveraging and buying short positions. Establish sector over-weighting and under-weightings using ETFs or mutual funds in the portfolio for at least two additional sectors. Students can reverse the health care position from prior transaction.
Week 6 (trades from March 15 through March 19): Option returns versus stock returns
(Avoid purchasing a contract that is expiring in March)
1. Purchase three individual stocks by selling the appropriate ETF(s).
2. For each stock, purchase an out-of-the-money call.
3. For each stock, purchase an in-the-money call.
This is not an option strategy; however, I will want comments in the final report on the impact of buying an option compared to buying the individual stock (keep track of the returns on the stock (include dividends) and call options). See D2L announcement note for option symbol used in Stock-Trak.
Week 7 Spring Break: No required trades (from March 22 through March 26),
but can trade to rebalance
Week 8 (trades from March 29 through April 2):
Basic Option Strategies
(see D2L home for an announcement related to option symbols)
1. Purchase two additional individual stocks (at least 100 shares) by selling the appropriate ETF(s). For each stock, purchase a put option to establish a protective put position.
2. Purchase two additional individual stocks (at least 100 shares) by selling the appropriate ETF(s). For each stock, write a call option to establish a covered call position.
3. Purchase a put option for one of the ETFs to establish a protective put position.
4. Sell a call option for one of the ETFs to establish a covered call position.
Week 9 (trades from April 5 through April 9): Advanced Option Strategies
1. Establish a long straddle and a short straddle for two different stocks that are not currently in the portfolio. A long straddle requires the simultaneous purchase of a call and put for the same strike price, and a short straddle requires simultaneous writing of a call and put for the same strike price.
2. For an individual stock not currently owned, create a Bull (or Bear) Money Spread (go to trade options − spreads and buy a call and write a call, where the call purchased has a lower strike price than the call that is sold).
3. Purchase 3 individual stocks (that are new to the portfolio). For each of the 3 stocks, create a collar. A collar is basically a protective put plus a short call option. Alternatively, a collar can be thought of as a covered call with downside protection. For each of the new stocks, buy an out-of-the-money put and an out-of-the money call for the same expiration month. For example, immediately after purchasing a stock for $100, go to trade option and then to combo and buy a put option with a strike price of $95, and write a call option for $105.
Week 10 (trades from April 12 through April 16): Trade at least ten individual stocks, of which at least two are from a foreign exchange and two additional securities are ADRS trading on a U.S. exchange; otherwise, there are no restrictions beyond Stock-Trak’s margin loans (trade as much as desired, but save enough transactions to close derivative positions and short positions in Week 12).
Week 11 (trades from April 19 through April 23): After the in-class presentations, students
are required to:
· Buy 3 and short sell 2 of the stocks that were presented on Tuesday, and
· Buy 3 and short sel1 2 of the stocks that were presented on Thursday.
Begin to close derivative positions (especially those with low volume).
Week 12 (trades from April 26 through April 30): Rebalance the
portfolio to be within the asset allocation guidelines after closing
all derivative positions and short positions (volume may be
an issue for closing some of these positions—try several times during the week
for low volume issues).
On Tuesday of each week, each student is required to turn in a summary and explanation of the trading activity in the active portfolio for the prior week (1 or 2 brief paragraphs). The top 5 portfolios based on total portfolio value will receive 5 bonus points, and the bottom five will lose 5 points (this is to prevent excessive risk taking).
The Weekly Stock-Trak
summaries are turned into the dropbox in D2L as a
word file and must contain the student’s name and indicate the report week (minus 5 points name
or report week, if missing). Each student summary requires (no image files or
print screens):
·
an explanation of trades made,
·
a comparison of the returns of the active portfolio to the
passive portfolio,
·
completion of the statement:
“This week, the most important insight gained (or technique learned) was
. .
. .” , and
·
proper citation of sources used in gathering the information
used in the trade decisions.
Stock-Trak Presentation
A two to three minute
PowerPoint presentation is required (assigned for either day 25 or 26, which is
either May 4 or May 6). The presentation is due to a D2L dropbox on the presentation day and will summarize each
student’s trading over the 12 weeks with slides that describe (or outline) the
following:
·
Worst trade
·
Best trade
·
Most important insight gained from Stock-Trak
Final Stock-Trak Report
The final Stock-Trak report will
include a discussion and analysis of the fund's performance by comparing the
active portfolio to the passive portfolio (and/or a major index). A summary of the individual stock trades and
their performance is required. Students
with portfolios with open positions in a derivative security will not be
eligible for the bonus points.
Students with portfolios with open positions in a derivative security will not be eligible for the bonus points, and will have 5 points deducted from their score.
Final Stock-Trak
Report: The report is required to
be in a research paper format, which is organized using the following
Template/outline and includes a discussion and analysis of each of the
following:
Appendices should
include:
Daily Market Review. Each students is assigned a day to discuss the market performance from the previous day (Monday’s markets on Tuesday, and Wednesday’s markets on Thursday). Students should indicate the most important issue in the market and be prepared to discuss the following: yields for the Treasury bills, notes and bonds, value of the dollar versus the euro and yen, and value of the major equity market indices. Also, students should include:
· For the equity markets, the primary individual stock that had price changes, and
· Explanation that financial press is claiming to be the cause of the movement(s) in the market.
Please indicate the source(s) of the information, and record the key information in the discussion area of D2L for the day assigned.
Daily financial press articles--Students are assigned days to present: (1) key WSJ article, and (2) key article from another source (other than WSJ). If a student misses his/her assigned discussion day, then the most that he/she can earn on that day’s article discussion is 50% (the student still is required to provide information in the discussion area of D2L, prior to discussion date). The student is responsible for leading a discussion of the article in class (usually at the beginning of class) and including in D2L the following (prior to discussion day):
(1) a brief one paragraph summary of the key points of the article (properly cited with title and author, date and publication name),
(2) a sentence/paragraph that summaries the impact of the article on: risk and return or any of the typical investment constraints (taxes, time horizon, legal or regulatory, liquidity, and unique needs)
Contribution to the course and Instructor's Professional Evaluation: More than just attending class is required for this portion of a student’s grade. Students are required to be prepared and alert during all class meetings (this includes turning off cell phones and other electronic devices). Students who arrive late for class and those who leave during class are disruptive to the overall learning environment. Any lack of effort on any course requirement or detraction to the learning environment will be reflected in the contribution grade. During the semester, students may be required to turn in a self evaluation and/or a peer evaluation. The contribution grade is the professor's subjective evaluation of how well a student knows the course material and how the student used that knowledge to improve the learning environment of all students. That is, did a student's participation in the course contribute to the overall learning of all the students enrolled in the course?
Students can make a contribution to the course in a number of different ways, including:
Contribution grades are not assigned until grades from all course requirements are completed. I review the scores of each course requirement and my notes on what each student did (or did not do) during class and determine the impact that the student had on the class. I then make a subjective determination of each student’s contribution grade.
Prior to the last exam, I recommend that students use 60% as a proxy of their contribution grade as a way to estimate what they need to earn on the last exam to receive a grade of “x." Historically, the last exam of the semester has had the lowest score.
Attendance: A student’s attendance grade is based on the proportion of the non-exam classes he/she attends. For example, for Tuesday/Thursday classes, there are 25 non-exam class periods, or 4% for each class. I realize that issues do arise during the term; therefore, each student will be issued 102 points (on a 100 point score scale) at the beginning of the course. For example, if a student attends 22 classes (missed two classes), the student would earn 94% (102 – 8) for the attendance portion of the overall grade.
During the spring 2008 term, 53%
of my 334 students were at every class period.
On a 100 point scale, the average exam grade of students with perfect
attendance was 6.6% points higher than students who missed one or more class
periods (81.7% versus 75.1%, respectively).
The average GPA was 3.0 for those with perfect attendance, compared to
2.3 for those missing one or more classes (the maximum number of classes missed
out of 25 was 6, and the median was 3).
For the Spring 2009 term, 70.3% of the 334
students had perfect attendance, and the course GPA was 3.0 (only 2 people
missed more than 1 class). The 27% of my
Fall 2009 334 course with perfect attendance had an average GPA of 3.24, the
23% that missed only one day had an average GPA of 2.49, while the remaining
students who missed more than one day had an average GPA of 2.35 (overall class
average 2.61). Bottom line: attendance matters.
Attending
class and being prepared for class are important; however, students need to use good judgment if they are sick or
are traveling in dangerous
situations. For a MWF course, I deduct
2.5% (from 100% maximum) for each class period that is missed. That is, missing one class period will
decrease a student’s overall score by 0.05% (2.5%*0.02) for a MWF course. For a TR course, missing one class will
reduce a student’s overall score by 0.08% (4.0%*0.02). A student would have to miss 20 class periods
to have an impact of 1% on the overall score for a MWF course (or more than 12
for a TR course). Bottom line: do not come to class if you are sick or if
travel conditions put you in an unsafe situation. Keep me informed via e-mail when you do miss
class.
Class Requirements: It is essential that you come to class prepared in order to obtain full benefit from the class discussions. I REQUIRE THAT STUDENTS BRING THEIR TEXTBOOK TO CLASS EVERY DAY. Students will be asked regularly throughout the semester to participate in the discussions concerning the class requirements and current investment news. I have provided suggested end of the chapter questions, problems, etc. to help you review the chapter material. These suggested questions and problems can be found by linking to End of Chapter Questions and Problems. The solutions are available in the content section of D2L.
Most of the testing instruments will not be reviewed in class or returned. However, exam or quizzes are available for review in my office.
Academic Integrity:
The University of Wisconsin Oshkosh is committed to a standard of academic integrity for all students. The system guidelines state: "Students are responsible for the honest completion and representation of their work, for the appropriate citation of sources, and for respect of others’ academic endeavors." (s. UWS 14.01, Wisconsin Administrative Code). Students are subject to disciplinary action for academic misconduct, which is defined in s. UWS 14.03, Wisconsin Administrative Code.
Examples of acts of misconduct and penalties are provided at the following link:
Examples of
Acts of Misconduct and Penalties
FINANCE CLUB
Students who are Juniors should be active in clubs related to their future careers. Clubs provide opportunities to meet and interact with business professionals. Clubs provide an opportunity to network. More information is available at UW Oshkosh College of Business | Student Clubs FMA
INTERNSHIPS Watch the bulletin board outside the Dean's Office (CC 151) or the listing on the web page. http://www.uwosh.edu/cob/future-students/undergraduate/careers
FINANCE MAJOR SCHOLARSHIPS
There are several scholarships available to finance majors. Notices of
scholarship deadlines are e-mailed to students. Scholarships usually are due in October/November. Check the finance team
web site: UW
Oshkosh College of Business Scholarships
COLLEGE OF BUSINESS SCHOLARSHIPS
COB scholarships usually are awarded in the spring and can be found at UW Oshkosh College of Business Scholarships
STUDENT-ENDOWMENT FUND MANAGER COURSE: BUS 438
BUS 438 is a 3.0 credit Finance Seminar that is offered each
fall and spring semester. More information is available at the web
site: Student-Managed
Endowment Fund Manager Course or
http://www.uwosh.edu/cob/future-students/undergraduate/academics/majors/smef
The application is available at:
http://www.uwosh.edu/cob/current-students/438-application