Fall 2010 Newsletter
Bendheim Center Celebrates Tenth Anniversary
On September 24, the Bendheim Center for Finance celebrated a decade of leadership in finance education and research with a day-long conference featuring leading faculty of the program. The conference, attended by faculty, alumni, corporate affiliates and students of the program kicked off with introductions by Dean of the Faculty David P. Dobkin, Yacine Aït-Sahalia, BCF director, and Lynn Bendheim Thoman, co-president of the Lowenstein Foundation and daughter of the Center's generous benefactor, Robert Bendheim, who died in 2009.
The first panel, "Bubbles, Behaviors and the Origins of the Crisis," featured faculty members Yacine Aït-Sahalia, Harrison Hong, Daniel Kahneman, José Scheinkman, and Ronnie Sircar in a lively discussion on the financial crisis and the impact of overconfidence, poor risk management and greed on the industry and the economy as a whole. Addressing possible solutions to the repercussions of the crisis, Alan Blinder, Markus Brunnermeier, Governor Jon Corzine, Paul Krugman, and Hyun Shin outlined options for "A New Architecture for the Financial System."
In the final session, "Should Finance Research and Teaching Change in Light of the Financial Crisis?," René Carmona, Jianqing Fan, Burton Malkiel, Christopher Sims, and Wei Xiong debated possible outcomes from an academic viewpoint.
The conference was followed by a standing room only public lecture by the founder of the program, Federal Reserve Chairman Ben S. Bernanke. The full text of his talk is available at the Federal Reserve website.
New Students Attend Bootcamp
24 New MFin Students join the program. On August 30, 24 students from around the globe attended the annual two-week math refresher course and a three-day introduction to the broad career possibilities of the Master in Finance degree. This ‘boot camp’ has been run for Master in Finance students for the past six years with the help of a prestigious group of alumni and corporate affiliates. (A list of the students and their resumes is available on this website.)
The math refresher course was taught by BCF faculty member Wei Xiong, whose efforts were once again well received and appreciated by all attendees.
Presenters at the Sept. 11-14 boot camp covered a broad range of firms and areas of focus. Arnold Miyamoto, Managing Director and Global Head of Markets Quantitative Analysis at Citi,shared his career path, views on the current market, and how students should weigh career options. John Massad, Director of Business Development, Caxton Associates, gave advice on differentiating oneself in a competitive job market and how careers on the buyside can be pursued.
Uma Seshamani, VP, Institutional Equity Sales, Barclays Capital, spoke about her own career path since her Princeton undergraduate years, and recommended students be flexible and ready for change. Andy Golden, President, Princeton Investment Company, talked about PRINCO’s unique approach and shared his views on careers within university endowments.
Ann Guo and Chris Resto of GETCO answered questions about the fast growing world of electronic market making and related career opportunities. Len Kunin, Director of the Global Arbitrage Trading desk at Credit Suisse, provided his insight on a decision making in uncertainty, risk management, and how creative problem solving and using probability and statistics can be a valuable asset in a career search.
Marko Kolanovic, MD, and Kapil Dhingra, VP, Global Equity Derivatives/Delta One Strategy, JPMorgan, shared their backgrounds and opportunities within their firm for Master in Finance students.
John D. Naud, Director, Citadel, Portfolio Manager, US Fixed Income, discussed the skills necessary to succeed in his group and at a firm like Citadel, and career opportunities in the hedge fund arena.
Eric Pan, Executive Director, FX Strategy, and Jean Boyer, Associate, Equity Derivatives Strategy, discussed the important role strats play within Morgan Stanley.
Isaac Chang, VP and Head of US Interest Rate Products Electronic Trading at Goldman Sachs, discussed the evolution of trading since his career began after graduating from Princeton, and how high frequency trading fits in.
To kick off the boot camp, a group of five recent Bendheim Master in Finance alumni returned to campus for a roundtable discussion and mock interviews. The panel, moderated by retiring Director of Corporate Relations David Blair, included Nicolas Cojocaru-Durand, Citadel; Duygu Gozeler, HSBC; Theo Kim, Princeton University Investment Company; Adam Lichtenstein, Kepos Capital; Chad Shampine, Morgan Stanley; and Dennis Walsh, Goldman Sachs Asset Management. They discussed what it takes to succeed in their areas of finance and shared their thoughts on best practices in interviewing techniques, their own career path and interests, and recommended methodology for job searches in this competitive environment.
Wendell Collins, director of corporate relations, presented tips and techniques on the ‘do’s and don’ts’ of placement and interviewing, and David Blair provided his perspectives on the markets and future careers in finance.
Tony Chiappetta and Amy Pszczolkowski of Career Services discussed best practices for leveraging career support services available to Bendheim Master’s students, including a detailed overview of TigerTracks. Todd Hines alsoshared information on the resources available at the Economic and Finance Library.
Weekly Lunch and Learns Feature Industry Guest Speakers
Here is just a sampling of the additional guest speakers from a variety of areas of finance who are visiting the Bendheim Center for Finance this fall to address our Master in Finance, undergraduate, and PhD students. Thank you to these excellent speakers for giving their time to the growth of the program:
- Oct. 1, Kirby Daley, Senior Strategist, New Edge, Hong Kong
- Oct. 7, Rob Khoury, World Wide Financial Industry Recruiting Services
- Oct. 12, Jerry Lou, MD, Morgan Stanley Asia Research
- Oct. 13 and 19th, Credit Suisse Investment Banking and Sales & Trading Panels
- Oct. 14, Tim Dowling, MD, Deutsche Bank Risk Management
- Oct 14, Robert Shiller, Finance and the Good Society
- Oct 15, Internship 101 Panel with Second Year students
- Oct 20, Bob Greer, Portfolio Manager, PIMCO
- Oct 21, Portfolio manager and investor William C. Powers
- Oct. 23, MD Harold Kim, Citi Global Markets Asia Pacific
- Nov. 8, JPMorgan Quantitative Research
- Nov. 10, Edgestream Partners
- Nov. 11, Justin Gmelich, head of Credit and Mortgages, Goldman Sachs
- Nov. 12, Antoine Chiche, Goldman Sachs Principal Strategies
- Nov. 17, Marilyn Fedak, Vice Chairman, Alliance Bernstein
- Nov. 17, Luis Seco, Univ. of Toronto RiskLab & Sigma Analysis & Management
- Nov. 19, Job Shadowing at JP Morgan & Morgan Stanley
- Dec. 3 , Charles Fishkin, Ding Liu and Vicki Walia, Alliance Bernstein
- Dec. 7, Deutsche Bank Networking Reception
- Dec. 15, Andy Okun, CEO, Watermark