Students at Walsh College in Troy will get a chance to manage a $100,000 investment portfolio featuring Michigan-based companies, thanks to a Troy business owner.
Funded by Leon LaBrecque, managing partner and founder of LJPR, a financial services firm, the program will provide a forum for Walsh’s finance students to gain real-world investment and business experience, says John Moore, associate professor of finance at Walsh.
“This is a win for students, a win for employers, and a win for Michigan,” Moore says. “Student graduates will gain business experience that better prepares them for employment at Michigan’s leading companies.”
As part of the project, two student teams, each comprised of a portfolio manager and analysts, will compete for the opportunity to manage the portfolio. The winning team will be selected based on research quality and the validity of a proposed strategy.
“Students conduct research, brainstorm a strategic approach, present a portfolio thesis to an experienced wealth manager, and then manage (the) money using all of the most current market technologies available with results that actually matter,” says LaBrecque, a Walsh faculty alumnus. “What better student experience can you have?”
LaBrecque says the inspiration for the program came from his love for Michigan. “I don’t want our young talent leaving home for Chicago or New York,” he says. “I want them here, where they can be great neighbors and make our state better for generations to come.”