Master's in Finance Program

MS in Finance students answer burning investment questions

Jennifer Anzaldi — Tue, 22 Oct 2024 17:08:48 +0000

MS in Finance students answer burning investment questions Jennifer Anzaldi Tue, 10/22/2024 - 13:08

In This Story

��AV Master of Science in Finance students have the rare opportunity to use their budding analytical skills to solve some of the mysteries of today’s financial markets. Moreover, their faculty-supervised research projects can land their names in the pages of The Wall Street Journal.

To date, these projects have spawned nearly 40 WSJ articles, not to mention dozens of write-ups in outlets such as MarketWatch, The Conversation, and the CFA Institute blog. They have also received television coverage on CNN and NewsNation.

SMIF officers Yashkaran Sidhu, Jonathan Pino, Matthew Rickard, Raheeg Joari, and Reema Hammad at the Chicago SMIFC conference.

As Costello College of Business finance professor Derek Horstmeyer tells it, the process started taking shape organically. “I had started writing for the CFA and The Wall Street Journal. In my talks with my students, some of them revealed they had research interests. It just kind of took off from there—I would bring it up in class and offer to supervise a research project that would last about a week.”

Student researchers are mainly recruited from Horstmeyer’s Montano Student Managed Investment Fund (SMIF) class, a hands-on exercise in security analysis and portfolio construction that serves as a capstone to the MS in finance degree.

While many student research projects originate with questions suggested by the students themselves, Horstmeyer helps the student teams devise their scope and direction.

“They might say, for example, that they’re interested in crypto. So I’ll show them previous articles on crypto and we kind of develop a new idea from there,” Horstmeyer says.

By the time they get to SMIF, students are usually comfortable getting their hands dirty with data. Finding the appropriate data-set for the question they’ve posed, however, can be a challenge. That’s another area where Horstmeyer’s support becomes critical. “The big bottleneck is they just don’t know where the data is,” he says. “We as faculty have access to these private databases. So I’ll guide them or set up the data.”

Horstmeyer also introduces the student teams to the best methods for parsing the data, while leaving students enough leeway to conduct independent follow-up analyses if needed.

Of the dozens of projects completed thus far, there are a few that, for Horstmeyer, typify the process at its best. For example, finance students Matthew Rickard and Camila Marín Builes investigated how stock-market trends fare once they have been familiarized enough to warrant a nickname. Among the eight named trends included in the study were FAANG (Facebook, Amazon, Apple, Netflix and Google), and “The Magnificent Seven” (Nvidia, Tesla, Meta, Apple, Alphabet, Amazon, and Microsoft).

“We did an extensive Google search to find the biggest named trends. Then we used the Wayback Machine to figure out when the trend was first coined, like the exact date. We did all sorts of tests to determine what kind of abnormal returns you can expect if you stick with that trend,” Horstmeyer explains.

The students found that newly christened trends experience an extended honeymoon period of about 12 months, amounting to an average of 13 percentage points in excess returns. But in their second year, trends start to go stale, underperforming the S&P 500 by an average of two points.

The Wall Street Journal published Horstmeyer’s article “Once a Hot Stock-Market Trend Has a Name, Its Best Days Are Likely Past”—published under his byline with the student researchers mentioned by name early on—in March 2024.

Horstmeyer says that participating in these projects helps students hone skills and techniques that enhance their careers and give them a competitive edge in the job market. “I get employers reaching out and saying, ‘I saw this line item on a candidate’s resume saying they did some pretty high-level data analysis for you. Is it true?’ They’re kind of surprised the student contributed to the CFA or a Wall Street Journal article.”

Melvin Jonathan Reyes Echeverria, who completed his MS in finance degree in May 2024, says, “I assisted Professor Horstmeyer with data analysis for the WSJ and the experience was amazing…I was able to leverage everything that I was taught in my MS in finance classes. It was a privilege to be published and something that was unexpected to receive at George Mason.”

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Finance Students Visit Wall Street

Marianne Klinker — Fri, 18 Aug 2023 13:40:29 +0000

Finance Students Visit Wall Street Marianne Klinker Fri, 08/18/2023 - 09:40

At the end of March 2023, the Montano Student Investment Fund hosted "Patriots Day on Wall Street," offering a select group of ��AV School of Business finance students an enriching experience that included a tour of Wall Street and meetings with various firms.

This initiative proved to be an invaluable networking opportunity and a glimpse into the corporate world that many of our School of Business students aspire to join.

On Thursday, March 30, their first meeting in New York was with Kroll, a global company specializing in risk and financial advisory solutions. During the session, John Walsh, the managing director of valuation advisory services, discussed the company's key business lines, including valuation advisory services and mergers and acquisitions. This meeting provided students with insights into the day-to-day responsibilities at different employment levels, highlighting the importance of time management and navigating busy seasons, which vary depending on the sector.

Finance students at Wolfe Research

After lunch, students met with Wolfe Research, a company primarily driven by analysts. Director of Research Jesse Bigelow and Vice President of Capital Markets Brian Tetlow, shared valuable knowledge about the finance sector, specifically capital markets, while a panel of new analysts emphasized the competitiveness and pride associated with working at Wolfe Research. Additionally, they discussed their experiences living in the city, maintaining a work-life balance, and the firm’s prioritizing their well-being.

To conclude the day, Derek Horstmeyer, co-founder and director of the ��AV Montano Student Managed Investment Fund and professor of finance, organized a networking dinner at Claudette, where students connected with finance alumni. The alumni shared their undergraduate stories, provided job-seeking advice, and ways to stay connected.

On Friday, March 31, JP Morgan Chase welcomed students with breakfast and a presentation by their college outreach team, focusing on their Assets and Wealth Management division. Newer employees provided valuable advice on standing out in interviews and making a difference once employed.

Finance students at Howden Tiger

Next on the schedule was a meeting with Howden Tiger, where Manya, a recent Mason finance alum, provided insights into their human resources, insurance, and risk teams. The group discussed job opportunities, their recent rebranding after a merger, and the advantages of working in New York City. Notably, following this trip, Master’s in Finance student Sean Prendergast received a job offer from Howden Tiger. Read more about Sean’s experience in the master’s in finance program here.

The final meeting, facilitated by Mason finance alum Sufia Abdul Rauf, was with Haveli and Apollo Global Management in the private equity sector. Representatives from both companies covered various aspects of their businesses, including sales, client relations, and culture. This meeting stood out as our students gained confidence in asking insightful questions related to work-life balance, growth opportunities, and effective networking. The employees offered valuable insights and stressed the importance of maintaining connections and expressing appreciation for professional relationships.

Finance students at Apollo Global Management

After the Apollo meeting, Horstmeyer presented at the Quinnipiac Game Forum, a highly regarded student-managed investment fund competition in New York City.

“Patriots Day on Wall Street was a resounding success,” said Horstmeyer. “All students in attendance represented Mason to the fullest, and all employers were thoroughly impressed by their questions and enthusiasm for the opportunity to meet.” 

The event provided an insider's view of working on Wall Street and valuable networking opportunities with alumni and industry professionals. This experience was a successful venture that introduced students to unique insights into the finance sector, New York City lifestyle, and various business cultures that cannot be experienced solely through classroom education. We eagerly anticipate organizing this event again next year and extending this opportunity to our finance students.

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Second master’s degree lets Mason graduate exercise a different part of his brain

Colleen Rich — Mon, 12 Dec 2022 15:33:18 +0000

Second master’s degree lets Mason graduate exercise a different part of his brain Colleen Rich Mon, 12/12/2022 - 10:33

Paul Vosti is the first to tell you he doesn’t need another degree.

He already has a BA in Japanese studies from the University of Notre Dame, and an MA in international studies from the University of Washington. But Vosti also loves learning. So when the opportunity arose, he dove in.

Mason graduate student Paul Vosti. Photo by Ron Aira/Creative Services

Later this month, the 65-year-old Burke, Virginia, resident will graduate from ��AV with a master’s degree in finance, part of the program’s first cohort of 14 students.

“There is a sense of accomplishment,” Vosti said. “But honestly, I don’t even know if I’m going to turn this into a professional career opportunity as much as just the experience of the education, which I love. I love going to school.”

Vosti hadn’t been in a traditional civilian academic setting since 1989, when he graduated from Washington. A military career followed, including stints as the senior advisor of Guam policy and the director for Japan policy in the Office of the Secretary of Defense.

He is currently working part-time as a contracting officer’s representative, administering contracts for the Office of the Undersecretary of Defense for Policy. All of which is to say, Vosti had some catching up to do when it came to current tools of education.

“When I came to the University of Notre Dame as a freshman, we all came with portable electric typewriters. That was our technology,” Vosti said.

For his finance classes, all of which were online, Vosti had to learn software such as Python and RStudio, and advanced capabilities of Excel for inputting formulas.

He had to get comfortable with the functions of a financial calculator and, as he said, “get that heavy layer of rust off” in classes that included a heavy dose of calculus.

Lin Sun, an assistant professor in the finance section of Mason’s School of Business, said that did not hold back her student.

“What is unique about Paul is that when he studies something new, he would really dig into it and ask a lot of questions until he understood every detail of the underlying mechanism,” Sun said. “That is the quality that makes him stand out in anything he is determined to achieve.”

“He’s not afraid to push forward, and he’s a role model for other students,” said associate professor Jim Hsieh, the director of the master’s in finance program. “I’m convinced that he convinced other students that if you put your mind to something you can achieve it.”

The truth is, studying finance is a return to Vosti’s youthful interests.

When Vosti began at Notre Dame, he intended to major in mathematics. When he switched majors to Japanese studies due to his strong interest in international relations, math was set aside.

“But I always had that interest, playing with numbers,” Vosti said, “And I was always interested in the financial markets. So for me, this was an opportunity to go back to something I had an interest in, and it would all be new knowledge.”

Vosti attended Mason in great part, he said, because the finance program was supportive, encouraging, and worked with his G.I. Bill requirements. It also allowed him to finish the program in 15 months to accommodate a long-planned vacation.

“I just liked the heck out of it,” Vosti said of the program. “This was like exercising a different part of my brain. I’ve enjoyed the journey as much as what it might open to me.”

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First Generation MSF Student Balances Active Duty and Remote Learning

Jennifer Anzaldi — Thu, 19 May 2022 16:53:22 +0000

First Generation MSF Student Balances Active Duty and Remote Learning Jennifer Anzaldi Thu, 05/19/2022 - 12:53

Innocent Adebiyi

Innocent Adebiyi has one of the more inspiring ��AV’s School of Business stories. A first-generation graduate student and a 2021 Virginia State University graduate, Adebiyi has been pursuing his master’s in finance (MSF) while also serving our country as an active-duty Logistics Officer and Second Lieutenant in the United States Army Active-Duty Component. Adebiyi will graduate this month.

When asked how he balances his many responsibilities, Adebiyi says the structure of the MSF and professors’ flexibility has been helpful. Classes are in the evening and he says “the faculty are always willing to meet” to ensure he completes the work for his program while also leading his 40-person National Guard unit.

Asked how the online program differs from in-person, Adebiyi offers “The transition from in person to online isn’t that different. I’m still doing the same math, coding, and statistics [that I would do in-person.] The online program still feels hands-on, and that’s a great feeling, especially since I’m on active duty and physically far away from Mason. It's a different format, for sure, but the overall experience isn’t that different.”

While balancing his responsibilities is a challenge, Adebiyi says the key is time management. He keeps track of classes, meetings, and military responsibilities, and makes time for homework and projects around his work and class commitments. “It’s a challenge, but it’s not bad,” Adebiyi says. “It’s all about managing your time.”

Adebiyi’s family is in his home country of Nigeria, and he cites family as a major motivation, pushing him to succeed. He is the first in his family to attend college or join the military, and they view Adebiyi as a hero. Knowing his family is proud helps maintain his forward momentum, even when his responsibilities are challenging.

When asked why he chose the MSF, Adebiyi says his due diligence on the job market and program helped him to realize his degree would be applicable to a wide variety of positions, particularly portfolio analysis. Coming straight from Virginia State, he felt the MSF gave him a better chance of securing a well-paying job than an MBA.

In terms of advice, Adebiyi acknowledges the challenging nature of his schedule, he believes others can follow in his footsteps, “It takes commitment and balance, but you can do it. Talk to your professors, let them know what’s going on. Use your resources. Don’t be scared to try.”

The master’s in finance is a 33-credit program designed to be completed in one or two years. The program, designed to meet the standards of the Chartered Financial Analyst (CFA) Institute's Candidate Body of Knowledge, is structured around the principles of financial knowledge, as well as advanced qualitative and programming skills.

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New Partnership Eases Transition to Grad School

Jennifer Anzaldi — Wed, 16 Mar 2022 15:40:22 +0000

New Partnership Eases Transition to Grad School Jennifer Anzaldi Wed, 03/16/2022 - 11:40

Matt Van Horn

The ��AV School of Business recently set up a unique admission partnership with the University of Virginia at Wise. The pathway offers students who graduate from UVA-Wise the ability to streamline their applications to the master’s in accounting, master’s in finance, and master’s in management (MSM).

The master’s in management is designed for non-business majors who seek a foundation in business management. Program benefits include access to world-class faculty, individual advising and lifelong career coaching. Over the course of 11 months, MSM students will earn a master’s in management, complete an internship (150 hours), and participate in a global residency.

"The MSM program provides a unique opportunity to combine the diverse perspectives of the non-business undergraduate degrees with the targeted foundation in both the theory and practical application of business in areas such as organizational behavior, economics, finance, marketing, and others," says Victoria M Grady, associate professor of organizational behavior and academic director of the MSM Program. "It is exciting to be part of such a dynamic program. We are thrilled to share integrated partnerships with schools such as UVA-Wise."

Matt Van Horn, a student in the (MSM) program, is the first student to come through this pathway to Mason. When asked why he chose the pathway, Van Horn says it was because of Mason’s reputation and the easy nature of the application process.

“I always knew I wanted to go to grad school, but the graduate application process can be overwhelming,” Van Horn says. “The UVA-Wise pathway was almost too good to be true. It was like a yellow brick road through all the confusion.”

According to Van Horn, the MSM program has benefits that may not be obvious initially. The business school’s Office of Career Services is a “true benefit,” he says, and the staff works closely to meet student wants and needs. He emphasizes the excellent networking opportunities with other professionals in the Washington, D.C., area.

When asked how the MSM helped him develop, Van Horn says he now has a more realistic idea of the scope of the business world and the skills he needs to continue developing to be successful. “It allowed me to take what I already knew from undergrad and build on it,” he says.

He added that the professors are friendly and want their students to succeed, which he considers a strength of the program. Van Horn’s advice for students who are considering a School of Business master’s program is to reach out to any of the staff or faculty for more information.

If you would like your college or university to benefit from a similar partnership or pathway, please contact Kevin Connor, associate director of graduate admission, strategic initiatives in the School of Business.