What makes Tiger Woods such a gifted golfer?
Or Warren Buffett such a gifted investor?
Performance experts tell us world class athletes, as well as great investors, have several elements in common:
* An active desire for deliberate practice to improve basic skills
* A supportive environment to pursue their interests
* Large amounts of time to devote to skill development
* Continuous repetition and feedback allowing for the correction of errors
* A ‘mentor’ or ‘trainer’ to assist in skill development and improvement
World class performers store the vast amounts of knowledge acquired during the learning process. They process this knowledge much quicker than non-experts, and quickly ascertain patterns of information helpful to enhancing their performance. The majority require at least 10 years to develop their skill – in some cases much longer.
The Michigan Tech Applied Portfolio Program recognizes the need for ‘hands on’ experience for a potential investment manager, the need to study markets, make decisions, and to receive repetitive feedback to correct errors – one reason why the Applied Portfolio students are given sole responsibility for managing a $1 million real money portfolio of stocks, bonds, and exchange traded funds.
Recognizing the need for mentors, the Applied Portfolio instructional team has skilled individuals with decades of investment experience between them to provide valuable feedback:
Dr. Dean Johnson, Associate Professor of Finance and Founding Director of the Applied Portfolio Management Program, manages the LSGI Osceola Fund L.P. for qualified investors – and has guided MTU students to three National Investment Championships in the last eight years against hundreds of competing teams at the University of Dayton annual investment symposium.
Joseph Dancy, Adjunct Professor of Law at Southern Methodist University and guest lecturer to the MTU Applied Portfolio program, manages the LSGI Technology Venture Fund L.P. – a Morningstar five-star rated fund, and is President of LSGI Advisors Inc. With the skills students develop, and the tools they learn to use, students have an opportunity to become the next Warren Buffett [presentation white paper].
Larry Durland, Chairman of the APMP Board and seasoned investor (now retired), and guest lecturer to the MTU Applied Portfolio program.
The Road to Excellence for potential investors begins with the Michigan Tech Applied Portfolio Program, an academic program open to all undergraduate and graduate students at Michigan Technological University.
The Michigan Tech APMP team competed in the University of Dayton student investment symposium in 2008. Over 2300 participants, 267 universities, and 69 countries were represented. Michigan Tech’s APMP team was named 2008 National Champions in the value category – for the second year in a row – based on their strategy and actual returns.
The Michigan Tech team has been National Champions three times in the last eight years. All the members of the APMP team will receive an engraved gold MTU Cross pen from LSGI to commemorate their success.
Above, MTU’s APMP student Tony Hellenbrand is interviewed by CNBC’s Larry Kudlow on Morning Call in July of 2008. The MTU team has also opened the NASDAQ market.
Link to Tony’s CNBC interview: Hellenbrand