Business students at Walsh College in Troy have six figures to play with now that a former member of the school’s faculty has started a new investment fund there.
Leon LaBrecque, a former professor and department chair of finance and economics at Walsh College
and managing partner and founder of LJPR
, is giving $100,000 to start the Michigan Alpha Project. The student-run investment portfolio will focus on investing in publicly traded companies based in Michigan. LeBrecque says he choose to donate $100,000 at first because “it seemed like enough to make the students interested,” and he is helping raise more money to expand the fund.
"We're trying to shoot for $1 million by the end of the year," LaBrecque says.
The Michigan Alpha Project
will be run by two student teams per quarter. One team will make the investments and manage the fund while a second team manages a shadow fund. The results from both teams are compared each quarter. The teams can range in size from five to nine students.
The students will use Walsh College’s newly created finance lab to analyze markets and make investment choices. The 1,400 square-foot space features 24 work stations, 12 Bloomberg terminals, lab projectors, a white board, and an interactive market wall with live feeds for market indexes, global currency movements, current commodity prices, bond prices and NASDAQ, NYSE and Watchlist feeds.
"It gives the students enough to get their fingernails dirty," says John Moore, professor of finance and economics at Walsh College. "It's different when you are investing real money."
Source: John Moore, professor of finance and economics at Walsh College and Leon LaBrecque, managing partner and founder of LJPR
Writer: Jon Zemke
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