October 27, 2006 | Union League of Philadelphia
Wharton Investment Management Conference 2006Investment Management

Wharton Investment Management Conference 2006

Panels

 

Conference Address

  • Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School

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Keynote – Business of Investing

Panel Chair: Noah Mayer

The investment industry is dramatically different than it was a generation ago:

  • Customers are more sophisticated and individuals more empowered to make their own investment decisions.
  • The Internet revolutionized traditional broker channels, disrupting the traditional distribution model.
  • The increasing availability of alternative asset vehicles, especially the recent explosion of hedge funds.
  • On the other end of the spectrum, passive investment vehicles offer low cost alternatives, squeezing traditional investment firms further.
  • Accessing and understanding these new options is creating a boom for wealth managers able to help clients navigate these choices.
  • At the same time, global markets are growing in importance, both as the origin and destination for client’s investment capital.

This panel brings together executives to discuss how the industry evolved and is likely to continue evolving. They are at the forefront of the revolutions shaping the industry: alternative assets, wealth management, passive investment, and globalization. How will investment management firms remain strong in a dynamic and competitive investing marketplace? What is the future for the investing industry? These are some of the questions this panel will help you address.

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Portfolio Management Strategy

Panel Chair: Noah Mayer

Whether it is a multi-billion dollar portfolio or a thousand dollars in a personal account, managing a portfolio requires insight, dedication, and skill. The Portfolio Management Strategies Panel features investors who have displayed the skills necessary to consistently outperform the market, making them into some of the most well-known names in the investing world.

The participants on this panel weathered the ups and downs of the market and consistently demonstrated their skill in managing risk, allocating capital, and assessing value. These veteran investors will address what it takes to consistently outperform the market.

The panel will discuss the characteristics of a good portfolio manager, investing lessons learned, valuation, managing risk, and general strategies for investing in today’s markets.

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Value Investing

Panel Chair: Ramnik Soni

It has been six years since the dot-com bubble burst. It was easy to find undervalued stocks at the peak of the bubble when the enormously extended valuations of high-tech, media and telecom stocks – and the very low prices in much of the rest of the market – created huge opportunities. Today price differences between industries are much smaller. As a result, bargains in the stock market could be harder to find. Some people believe that value stocks can’t perform for much longer. How do classic value investors allocate capital in this environment? What other measures beyond classic value measures can be used to find mispriced stocks?

The panel discussion will likely focus on such challenges for value investors in the current environment and on how to find value at the peak of the economic upturn and beyond.

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Investing In BRIC

Panel Chair: Rajyashree Jalan

The BRIC nations, Brazil, Russia, India and China are among the fastest growing economies in the world. The rapid emergence of these nations has made them a source of tremendous investor interest. Each country uses a different model for its growth and has a unique set of characteristics.

How do the nations compare with each other? Are the markets over-valued or under-valued? Which are the most promising sectors within each country? Come listen to the experts as they discuss the distinctive risks and rewards of “Investing in BRIC”.

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Activist Investing

Panel Chairs: Constantine Mamakos and Georgina Russell

Passively investing in undervalued securities is a tried and true method for generating healthy returns. However, certain investments require a catalyst for the market to recognize intrinsic value. The Activist Investing panel features investors who create their own catalysts through strategies ranging from collaboration with companies and their managers to aggressive proxy battles for control over board seats.

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Investing in Energy

Panel Chair: Andrew Gillick

This panel assembles executives to discuss how the energy sector has evolved over the last couple of decades and how it is likely to continue to grow and change. It brings together experts at the forefront of the revolutions shaping the industry and tries to answer the questions: Is the current level of world crude oil prices sustainable? How will it affect alternative energy investments? Can unconventional liquids make a meaningful contribution to oil supply? Will coal continue to play a dominant role in U.S. electricity generation?

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Lead Sponsors:

Fidelity

Goldman Sachs

UBS

Additional Sponsors:

Barclays Global Investors

The Capital Group

Legg Mason

Lehman Brothers

MFS

T. Rowe Price

Wellington Management