Reflections, Updates

Everyone you will ever meet knows something you don’t. – Bill Nye

For a blog full of quotes, I figured this is a fitting last one. Time has run its course. The internships are finished, with all but a few courses left to complete.

After a mercurial two years as an intern; I’ve grown accustom to change. But one thing unchanged as I rotated from workplace –to–workplace was the importance of people. The best leaders I’ve had understood the role of interpersonal relationships and the organizations whose viability I feel most confident about are the ones with robust culture.

Regardless of the leadership or environment we find ourselves in; it’s our personal duty to foster strong relationships. Ultimately that means considering and respecting the perspective of each individual irrespective of education, status, or tenure.

Thanks for sharing in this blog and as always please reach out if I can be of help in any way.

Regards,

Andrew M.J. Fredericks

Everyone you wi…

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Reflections, Updates

Wait! There was a method to the madness?

I spend a lot of time discussing the idea of skill-set build with narratives. As I finish the final internship; I guess the final question is,

“What is the narrative that fits my seemingly random intern positions together?”

At a high level, recognize that whether your building a portfolio of investments or leading a strategic initiative – there is a behavioral pattern: synthesis, execution, and adjustment. Successful leaders master this sequence, therefore  I sought mastery by working/learning from individuals at the forefront of each skill-set.

Synthesis - “How do you determine/establish a strategic priority?” PCL Constructors Canada Inc. – Sustainable Construction Initiatives –  Here I gained experience in using business cases to develop strategy and create succinct messaging. Along the way I encountered the communication challenges of change management and gained insight into  how targeting an industry weakness can be leveraged as a strategic competitive advantage.

Execution - “With an established strategic priority; how do you make decisions to execute it?” : OMERS Ventures – Analyst, Investment Team - Here I gained experience valuating high-risk, high-reward investment opportunities with limited time and information. Along the way I gained insight into the assumptions behind performance forecasting and how to apply a structured approach to unstructured problems.

Adjustment “How do you turn-around the unfruitful decisions you made?” : Roynat Capital – Analyst, Investment Enhancement Group – Here I gained experience in evaluating different options for re-positioning distressed financial situations. Along the way I encountered the challenges of interpreting ambiguous information sources and gained insight into negotiating mutually beneficial agreements.

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Reflections, Updates

Foyston, Gordon & Payne

In reference to my last quote; I wanted to acknowledge those that create opportunity.

Firstly, I am extremely grateful for all of the merit-based awards I have received. The generosity of numerous donors has significantly aided in my pursuits. Therefore, I can say first-hand that each year these financial contributions materially help post-secondary students like myself.

With that being said, I

wanted to highlight an organization that went above and beyond on something that was already above and beyond.

I am thankful for the invitation and time spent by the professionals at Foyston, Gordon & Payne Inc.(FGP) to show me how the industry works.

The experience provided insight into how a value-style portfolio management firm works on a day-to-day basis. Frankly, these insights are immense for capable individuals, like myself, that come from non-finance pre-MBA backgrounds.

I spend a lot of time discussing mentorship, because it is invaluable. The amount of insight you can gain from an in person conversation is above any other medium of communication. FGP has a solid history of providing scholarships at numerous institutions. But beyond that, it is great to see the firm take an active role in setting up others for success by not only rewarding hard-work but by providing opportunity to develop.

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Updates

Roynat Capital – The Bank within a Bank?

About to wrap up the third and last internship of my MBA. My summer at Scotia Plaza with Roynat Capital Inc. has been interesting. With Roynat Capital being a wholly owned subsidiary of Scotiabank (BNS), Canada’s 3rd largest bank, an interesting duality exists.

By itself, BNS is an established institution with a strong international presence. That international perspective is reflected by the organization’s emphasis on diversity and inclusion. This is further enhanced by Roynat’s identity as a smaller/nimbler bank with a culture best described as enterprising and creative.

A colleague of mine best put it, “At the Investment Enhancement Group, we have the pleasure of working with distressed investments.” Although many would prefer not to have distressed and investments uttered in the same sentence; I can actually say it was a pleasure!

Working with a extremely experienced group of financial professionals, I saw a wide breadth of deal structures. More importantly, I learned about the strategic financial implications of different courses of action and how different organizations position themselves in exit events.

If your looking for a finance opportunity that combines the positive benefits of working for a big and small firm, I would highly recommend looking at the opportunities available at Roynat Capital. (search ‘Roynat’ at the Scotiabank Job board). But be careful because as they say,

Once a Roynat’er always a Roynat’er!

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Informational, Insights

Project SIFYC: The Conclusion

 Return to project

So what does it all mean? Firstly, be clear that this is a practical not scientific study. But a few interesting inferences can be made. Individuals appear to favor investments and opportunities that are communicated with a positive or excited affect. Although many anecdotally believe that “males are more objective”,  observations show comparable behavioral influence on this population subset.

I believe that these findings have value beyond the context of traditional finance/investing decisions. When generally presenting an idea, concept or solution it is probably more favorable to do so with positive or excited mannerisms. More importantly, when evaluating different options be aware of how potential biases may skew your decisions. Emotional mannerisms and non-verbal cues are largely culturally dependent. Individuals from foreign cultures or even domestic subcultures might inadvertently exhibit unorthodox behavioral affects. So …

… don’t allow your affect to hinder selecting options with the best effect!

 

 

*Due Credit: Research conducted with significant help from Class Partner!

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Informational, Insights

Project SIFYC: The Data

 Return to project

With identical quantitative information, the preferred experimental investment allocation should be a 50/50 split. Allocations that vary significantly, signify the incorporation of qualitative information.

An ANOVA analysis demonstrates that there is a statistical difference between the average investment allocations for opportunities communicated with different emotional affects. The graph below illustrates observations of experimental investors exhibiting higher confidence and allocation in investments they perceived to be communicated with a positive or excited affect.

Investment Allocation by Emotional Affect

Investment Allocation by Emotional Affect

According to the U.S. Equal Employment Opportunity Commission; females are unfortunately unrepresented in the overall finance industry. In the securities subsector, the area of finance where real-world professionals make similar decisions, females have the lowest representation at approximately 33.8%.

Many like to believe that, “men are objective and less emotional.” So could this apply to the real-world? Segmenting for males only, an ANOVA of similar statistical significance and result is achieved. The graph below illustrates that male experimental investor allocations yield similar results.

Investment Allocation by Emotional Affect (males)

Investment Allocation by Emotional Affect (males)

 

*DUE CREDIT: RESEARCH CONDUCTED WITH SIGNIFICANT HELP FROM CLASS PARTNER!

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