Charles R. Blyth Fund 1/13/2015

Organizational Changes

The Blyth Fund will have 1 general meeting per week –Tuesdays 7:30 pm, in Thornton 110 (here) –Meetings will be speaker events or market news discussions Coverage Groups will be meeting 1 or 2 times per week

Analyst Requirement Changes General meeting attendance not required 75%+ Coverage Group meeting attendance required Satisfactory completion of Coverage Group- related work required

Pitches

This quarter, Coverage Groups will be delivering pitches A pitch is a recommendation to the Board of Directors about a potential investment –Board of Directors votes on whether or not to buy stocks

Pitch Structure 1.Thesis 2.Company overview 3.Company stock status 4.Catalyst Identification 5.Financial Models 6.Recommendation

Pitch Creation Process 1.Research sector and identify promising investments 2.Do further research and select best one 3.Perform due diligence on investment, construct thesis and compile evidence 4.Put together slide deck 5.Rehearse

Winter Timeline Week 2: First Coverage Group meeting: identify stocks to investigate Week 3: Choose stock to pitch Weeks 4 - 6: Perform research + prepare pitch Weeks 7 - 9: Deliver pitch Week 10: No meetings 10/24/09Alumni Homecoming Reunion 2009

Restrictions Constitution mandates that the Blyth Fund can only invest in equities and ETFs listed on American exchanges Foreign companies must be cross listed on American exchanges Avoiding restrictions: use ETFs 10/24/09Alumni Homecoming Reunion 2009

Why do pitches matter? Because the Blyth Fund’s $175,000 portfolio performance depends on them The Blyth Fund will be looking to make ~5 new investments this quarter –All ~5 must be suggested by pitches –Opportunity to make an impact on a large portfolio as a college student

Portfolio Rebalancing What: Blyth Fund will be liquidating about 1/3 of its portfolio to make space for new investments When: Directors will meet on Saturday 1/17 to vote on which positions to sell Why: To open space in the portfolio to acquire investments recommended by pitches this quarter

Portfolio Rebalancing Opportunity for members to impact portfolio: –All Blyth members may submit reports detailing position they believe the Blyth Fund should sell –The Directors will screen reports and invite authors of best reports to attend Directors’ meeting to present their cases –Deadline is Thursday night –Strong reports will be published online

Portfolio Composition

Ticker SymbolCompany NameDescription Market Value AESYYAES TieteOperates as an independent energy producer in Brazil.3.6K APAApache Iindependent energy company, that explores for, develops, and produces natural gas, crude oil, and natural gas liquids.9.2K BACBank of America Provides various banking and financial products and services for individual consumers, businesses, investors, corporations, and governments.15.6K DBCPowerShares Commodities ETFExchange Traded Fund17.7K DEDeere & Company Manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide.6.6K EEMiShares Emerging Markets ETFExchange Traded Fund17.7K EWJiShares Japan ETFExchange Traded Fund17.7K GOOGGoogle Builds products and provides services to organize the information.5.9K GOOGLGoogle Builds products and provides services to organize the information.6K ITRSPDR Intermediate Term Bond ETFExchange Traded Fund17.7K LNVGYLenovo Develops, manufactures, and markets technology products and services.17.7K LVSLas Vegas Sands Develops, owns, and operates integrated resorts in Asia and the United States.4.4K PMPhillip Morris Manufactures and sells cigarettes and other tobacco products.3.4K QCOMQualcomm Designs, develops, manufactures, and markets digital communications products and services.9.9K

Portfolio Performance

Miscellaneous

Webmaster Search To apply, –Basic info: name, class year major –Statement of Purpose –Links to relevant past work Alumni Homecoming Reunion 2009

Webmaster Search Blyth Fund is looking for a Webmaster Responsibilities: –Compose weekly blog posts about Blyth’s events and progress –Add content generated by Coverage Groups to site in organize manner Requirements: –Web dev/programming NOT necessary (we use Wordpress) –Visual design + writing chops necessary

Upcoming Talks John Powers, CEO of the Stanford Management Company Deepak Jeevankumar, Principal at General Catalyst Dates to be confirmed