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It's Back-to-School Time


, some of the most determined investors among our readership are business-school students. After reading their earnest letters about winners, misses and strategies, we realized B-schoolers had a tremendous amount of insight (or, at the very least, enthusiasm) to contribute. We figured, why not let them show us what they've got? Thus, the

TSC-Purdue MBA Investment League

was born.

Over 30 business schools across the country have some kind of student-managed investment portfolio. While the specifics of each fund differ from school to school, their goal is the same: to give MBA students the ability to trade real money in real markets for real returns as part of their investment education.

We've selected four schools --

Notre Dame


Texas Christian




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-- as our founding league participants.


, which has a fledgling student-managed investment program, will be acting as the objective coordinator and co-sponsor for the League.

The League will be a monthly feature on


. We'll update you on the clubs' monthly returns, top holdings and buys and sells. Through interviews with student managers, we'll examine what's behind the figures: What's the club's strategy? Why did it sell Stock A and buy Stock B? What's its outlook?

Sound like mutual fund manager interviews? The mutuals, especially the biggies, are more like the pro leagues. Too frequently, they offer up predictable plays, monotonous commentary and celebrity posturing. Oftentimes the real action is down on the college gridiron, where scrappy upstarts make history sans million-dollar contracts and product endorsements for billion-dollar shoe companies. This is the arena where pure competition rules the day -- where two-point conversions create heroes and fumbled carries doom futures.

Each fund is run strictly by students with minimal faculty control, and many of the students have significant industry experience. Our job is to let you know what they're doing so you can learn from their efforts and get ideas for your portfolio.

We're hoping to add more MBA school clubs to the League. If you're in a student club and want to join, let us

know. In the meantime, you can

read our write-up for October and vote for the school you think is poised to do best in November.

So forget tracking the top holdings of some colossal big-cap fund. It's back-to-school time.