1. Finance Club Jan-29

2. Semester Events February 16 th S&P Challenge March Madness Style Research Competition Finance@geneseo.edu March 1 st, Noon-2pm Manning & Napier Office Visit Overview of Equity research Stock Pitch and Professional Analyst Feedback Strategy discipline Finance@geneseo.edu

3. Semester Events April Advisory Board Meeting Meeting with area Investment Professionals Present update on fund performance Date Unknown Adirondack Funds Presentation Professional Small Cap Money Managers Strong relationship with Geneseo and SMIF Ongoing CME Commodity Trading Make daily trades with teammates Compete against other colleges around the country

4. Upcoming Meeting Schedules February 5 th SMIF Investment Process Sell Recommendation – Windstream Corporation February 12 th Western Union Pitch February 19 th Efficient Markets Hypothesis Presentation S&P Challenge Head-to-Head Pitch February 26 th The Fed Funds Rate and its Equity Market Predictability S&P Challenge Head-to-Head Pitch

5. Communication Knightlink www.knightlink.geneseo.edu/organization/finance Documents: archived quarterly reports, trade log, pitch reference materials Position Justifications and affiliated documents News and Updates Facebook Group www.facebook.com/groups/468028126550042 Meeting Updates Member Jib-Jab

6. Student Managed Investment Fund Equity only portfolio ~20 holdings No shorter than 3 Month time horizon Strict Adherence to 3 primary strategies Income >6% annual Yield - <90% payout ratio American Capital Agency, AT&T, Windstream Market Leadership Visa, Diageo, Altria Growth At a Reasonable Price (GARP) >25% annual sales growth, reasonable valuation metrics Intuitive Surgical, Apple, Michael Kors

9. SMIF Personnel Outline Finance Club President – 1 Manages Administrative duties of the Finance Club and SMIF Works in tandem with Co-Portfolio managers and Senior Analysts on investment decisions Co-Portfolio Manager – 3 Hold the official positions of Vice President, Treasurer & Secretary as recognized by the school Works with President on investment decisions Senior Analyst Two concurrent semesters with SMIF as Junior Analyst Graduating at the end of this academic year or next (Juniors/Seniors) Junior Analyst Active member of the SMIF Not graduating at the end of this academic year or next(Freshman/Sophmore)

10. Shopping List Materials One Holding Industrials One Holding Energy Two Holdings Utilities One holding Spring 2013 - Objectives 1.Established “Buddy” system & strategy for each holding. “Elevator Pitch” test 2.Replacement of XLE, XLI, XLB, XLU 3.Sustainable and efficient performance measurement process 4.Utilize Knightlink 5.Establish SMIF alumni database

11. Next Meeting – Same Place Same Time 1.Overview of Investment Process 2.Windstream Sell Recommendation 1.$10.86 cost basis 2.10.3% Dividend Yield 1.Income Strategy 3.425.96% payout ratio 4.six times more long-term debt than equity

12. Windstream Corporation – (WIN)