U of Maryland's Undergrad Fund Earns 'Street Cred'
During their recap of the state of things for that week, the Senbet Fund's financial sector analysts, Chad Olin and Daniel Paris, suggested that losses be taken in context -- Senbet was still ahead of the S&P.
A fair amount of time was spent discussing the current state of Citigroup, specifically whether or not the company should be dropped from the fund's portfolio . "We can't call a bottom right now," warned Daniel Paris. With the group unable to make a decision on Citigroup right then and there, they decided to give the stock a stay of execution and to discuss things more at their next meeting.
At the time of this publication, the Senbet Funds still holds Citigroup and members await a new (replacement) financial company to be pitched in the coming weeks.
The Big PictureRyan Shain, a portfolio manager for the fund noted that working on the fund is as much about learning as it is about making money. Shain says, "Group interaction's really big. Performance is good, but it's not our only focus." Still, this group of Maryland undergrads is pretty pleased with the Senbet Fund's performance, thus far. According to portfolio manager Jay Nargundkar, "We'd love to see some big gains , but as long as we stay ahead of the S&P, our benchmark , we're happy."
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