The Crazy Idea That Could Celebrating 20 years of the Applied Portfolio management program (apmp) at michigan tech
Twenty years ago, a donor gave $20,000 to Michigan Technological University for a very unlikely purpose—to give to students to invest in the stock market.
Over the years, teams of students of all majors have grown the portfolio into one of the top 50 student funds in the nation.
Applied Portfolio Management Program is an entrepreneurial experience of setting up a new asset management firm. Fourteen students are selected each year. It's an intense one-year, team-based experience. "We look for demonstrated aptitude and leadership skills in the area of finance and financial economic theory," says Dean Johnson, dean of the School of Business and Economics and founder/director of APMP.
Other universities now have similar programs, but Michigan Tech's is still very unique. Here, there is no safety net. Students call the shots. Students have full control to determine the investment philosophy. Crazy? Maybe. Smart. No doubt. Huskies have grown the fund to $1.5 million.