The Ross Whipple Fund (RWF) Fall class of 2007 continues business as usual despite one of the most adverse markets in recent memory. While the Fund struggles to post positive gains, the RWF still performed in excess of its benchmark, the S&P 500 Index, over the past five consecutive quarters. While it has been difficult to purchase stocks in an environment where nearly every security seems to fall, fund management has continued to evaluate current and new positions in the portfolio. The RWF closed some positions at a profit and has taken new positions in stocks that show long-term promise. Looking forward, the RWF expects an eventual recovery and is confident that recent decisions will both preserve and grow the fund. In these turbulent economic and geopolitical times, all news seems like bad news, but the RWF¡¯s student money managers remain steadfastly committed to the long-term investment goals of our client, Henderson State University.
Under the guidance of Dr. Smith, the RWF continues to evaluate potential and current investments with the goals of portfolio growth and capital preservation. With one semester¡¯s experience, the RWF managers continue to hone their repertoire of business valuation techniques and market savvy. After studying the philosophies of Peter Lynch and Benjamin Graham last semester, the class will now discuss Wall Street legends such as Warren Buffet, Matin Zweig and others. The RWF managers also plan to read Jeremy Siegel¡¯s highly acclaimed Stocks for the Long Run. For the Spring 08 semester, a trip to Stephen¡¯s Inc. in Little Rock is planned, as is a trip to visit money management groups in Dallas, Texas. Phone interviews of top money managers from the investment groups of Lighthouse Capital Management and Hamilton and Associates are also planned.