The Triangle

Issue date: 2/1/08 Section: News

Media Credit: Jake Davis-The Triangle Students were given control over investing $250,000 of the Drexel Endowment as part of the Dragon Fund Investment Committee.

Think back to those childhood games of Monopoly, when shelling out $100,000 for Boardwalk was a no-brainer, and imagine having the opportunity to invest that much money in real life.

Ten undergraduate students, as part of the Dragon Fund Investment Committee (DFIC), were given that chance. They were picked by LeBow College of Business Dean George Tsetsekos to manage $250,000 in the newly created Dragon Fund.

The Dragon Fund money comes from the University as an endowment earmarked for the specific purpose of providing a hands-on investment experience. The Drexel Investment Group and the Drexel Investment Group Analysis Program also work closely with the DFIC.

About a month ago, the money became available to the DFIC to begin investing.

However, the process is far from simple.

"We don't pick stocks to make tons of money," Ryan Wheeler, a junior majoring in finance and a new inductee to DIGAP, said. "We're more focused on the opportunity to practice skills in investment research than solely on the stock's performance. Our stocks might only gain a small profit, but we learn a lot in the background research - looking at the company's financial history - and about the economy as a whole."

Choosing stocks is no picnic either, as each selection is heavily debated and scrutinized by the DFIC.

"We have some healthy conflict. … The whole point is to really push and really argue about these stocks so that we make a good selection," Michael Tebesceff, a senior majoring in finance and member of DFIC, said.

According to Tebesceff, DFIC has invested roughly $60,000 in the past month.

The Drexel Investment Group (DIG) is a student run group that works towards educating students about investing. A step up from DIG is the Drexel Investment Group Analysis Program (DIGAP). DIGAP is a highly selective group of students that are elected by their peers to research and analyze certain markets. The students who show exemplary growth and effort in the DIGAP are recommended for the Dragon Fund Investment Committee (DFIC).

Ed Nelling, one of the group's advisors, said, "This is the beginning of an initiative to help build the reputation of Drexel University and its students' knowledge about the investment business and procedures."

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