BCC Finance Club

Next meeting:

2009-09-29T06:55:00.000-07:00

Thursday Oct 1st

4pm Room B-220

please note that the meetings will be every Thurs at 4pm in rm B-220 and if any changes occur we will reach out.

June.

First Meeting

2009-09-22T16:04:00.000-07:00

Thursday, Sept 24

4PM Room B-220

email- june.c.liang@gmail.com

for further information

Under Reformed Management

2009-06-05T09:49:00.000-07:00

The BCC Finance Club will be resuming activities this coming semester. Meetings will be held during the summer months for the purpose of scheduling and putting together the club's activities. If interested in a leadership position please contact Jose at bccfinanceclub@gmail.com

Regular meetings will be held every Wednesday and Tues or Thursday starting in the fall semester.

Bill Gates and Steve Jobs - Business Talk

2009-04-29T07:16:00.000-07:00

Meeting

2009-03-30T07:27:00.000-07:00

Wednesday, April 1st

5:15 PM Room C-313

2009-03-04T18:37:00.000-08:00

Job Losses Show Breadth of Recession

By DAVID LEONHARDT

Published: March 3, 2009

What does the worst recession in a generation look like?

Multimedia

Interactive Map

The Geography of a Recession

Times Topics: David Leonhardt

»

It is both deep and broad. Every state in the country, with the exception of a band stretching from the Dakotas down to Texas, is now shedding jobs at a rapid pace. And even that band has recently begun to suffer, because of the sharp fall in both oil and crop prices.

Unlike the last two recessions — earlier this decade and in the early 1990s — this one is causing much more job loss among the less educated than among college graduates. Those earlier recessions introduced the country to the concept of mass white-collar layoffs. The brunt of the layoffs in this recession is falling on construction workers, hotel workers, retail workers and others without a four-year degree.

-entrepreneurs

2009-03-02T20:04:00.000-08:00

-have an idea you just can't cant wait to tell somebody?

-are you building the next generation pc in your garage?

-have an idea for a new business?

share it with somebody who might be able to contribute to it.

The Mortgage Meltdown

2009-03-01T19:27:00.000-08:00

The Credit Crisis Visualized

2009-02-28T06:16:00.000-08:00

Learn How to Build and Finance Your Business at Bergen Community College, February 26, 2009

2009-02-25T21:46:00.000-08:00

For those individuals who are in business or thinking of starting a business, a seminar presented by Bergen Community College’s Small Business Development Center and the U.S. Small Business Administration (SBA), will provide attendees with information on business loan programs and technical assistance programs offered by the SBA. “Building and Financing Your Business” will be held on Thursday, February 26, 2009 from 4:00 p.m. to 6:00 p.m. at Bergen Community College’s Small Business Development Center, located at 355 Main Street, Hackensack. The event is free and open to the public with ample parking. Registration begins at 3:30 p.m
Click here for more info

Bus 101: Business Ethics

2009-02-23T10:07:00.000-08:00

The Smartest Guys in the Room.

Yoshie

2009-02-04T14:48:00.000-08:00

Yoshie Juarez 1999-2/4/09

I would like to apologize to everybody that showed up to the Finance Club meeting today as I was not able to show up. The reason being that I lost my best friend today, Yoshie.

Once again I am sorry for the inconvenience and see you guys again soon. Thank You.

-Announcement

2009-01-25T19:28:00.001-08:00

The First Meeting of the Spring Semester has been rescheduled for Wednesday Feb. 4th at 5:15 Room (pending)

MBA Talk - Warren Buffett

2009-01-25T06:46:00.000-08:00

2009-01-14T06:49:00.001-08:00

Term of the Day - sector

A distinct subset of a market, society, industry, or economy, whose components share similar characteristics.Stocks are often grouped into different sectors depending upon the company's business. Standard & Poor'sbreaks the market into 11 sectors. Two of these sectors, utilities and consumer staples, are said to be defensive sectors, while the rest tend to be more cyclical in nature. The other nine sectors are: transportation, technology, health care, financial, energy, consumer cyclicals, basic materials, capital goods, and communications services. Other groups break up the market into different sector categorizations, and sometimes break them down further into subsectors.

2009-01-11T18:32:00.000-08:00

We hope everybody had a good and relaxing break because its time for business. The Finance Club will be back on January 28th at 5:15pm Room C-313

2008-12-31T19:20:00.000-08:00

Unspoken Link Between Credit Cards and Colleges

Fabrizio Constantini for The New York Times

Bank of America employees on the campus of Michigan State University in East Lansing, Mich., offered give-aways like water bottles, backpacks, games and other items, trying to persuade students to sign up for credit cards and other banking services.

By JONATHAN D. GLATER

Published: December 31, 2008

EAST LANSING, Mich. — When Ryan T. Muneio was tailgating with his parents at a Michigan State football game this fall, he noticed a big tent emblazoned with a Bank of America logo. Inside, bank representatives were offering free T-shirts and other merchandise to those who applied for credit cards and other banking products.

“They did a good job,” Mr. Muneio, 21 and a junior at Michigan State, said of the tactic. “It was good advertising.”

Bank of America’s relationship with the university extends well beyond marketing at sports events. The bank has an $8.4 million, seven-year contract with Michigan State giving it access to students’ names and addresses and use of the university’s logo. The more students who take the banks’ credit cards, the more money the university gets. Under certain circumstances, Michigan State even stands to receive more money if students carry a balance on these cards.

Hundreds of colleges have contracts with lenders. But at a time of rising concern about student debt — and overall consumer debt — the arrangements have sounded alarm bells, and some student groups are starting to push back.

CLICK FOR THE REST OF THE ARTICLE

-wall street lingo - Bears

2008-12-26T17:24:00.000-08:00

The term bear refers to the given market conditions. Bull and bear are probably the most familiar terms onMain Street. Bear markets are rife with pessimism and negative sentiment. Typically, a bear market is one that has experienced declines of at least 15-20% and lasts more than two months. Probably the most famous bear markets occurred in 1929, which some believe caused the Great Depression. Unfortunately, economic indicators in 2008 have drawn comparisons to the Great Depression of 1929. The severe housing and credit bubbles originating in the first decade of the new millennium in the

United States

burst abruptly in 2007, and this credit unwinding, or "deleveraging" had a negative ripple effect on economies and markets worldwide. Venerable institutions, such as Bear Sterns and Lehman Brothers were wiped out by this bear market. Stock markets across the globe also experienced severe downturns. Governments engineered financial rescue packages for many large banks and insurance giants to avoid global financial markets meltdowns

Recession Proof Businesses

2008-12-24T01:48:00.001-08:00

1. SOUP

Most of the time, it's sex that sells. But in a down economy, soup ain't doing so bad either. It's one of the few things, besides hamburgers, that you can eat when you're broke. And most people will tell you it's healthy. Campbell reported that its soup sales were up 12% in the most recent quarter. Not surprisingly, the key message in the company's stepped-up marketing efforts is value. Campbell touts five of its condensed soups as "the original dollar menu."

2. MOUTHGUARDS

More layoffs and fewer bonuses lead to greater stress. And more stress leads to ... mouthguard sales? Indeed, according to anecdotal reports. Pink-slipped Wall Streeters have been flocking to the dentist to seek reprieve from their nightly stress-induced teeth grinding, which can damage teeth and lead to jaw trouble. Of course, custom-fitted mouthguards are hardly recession-priced -- they run between $300 and $700.

3. BANKRUPTCY LAW

This should start with a good joke about bankruptcy lawyers, but it turns out there aren't any. But, hey, they've got job security, which is more than can be said for the rest of the legal industry for the first time in many years. Bankruptcy practices started staffing up back in 2006, when the wave of foreclosures began to appear inevitable. Meanwhile some major law firms, including Orrick, Herrington & Sutcliffe, have been laying people off.

4. WALMART

It's only natural the name synonymous with low prices would fare well in a recession. Thanks in part to the giant retailer's laser-like focus on its economically downtrodden clientele via its "Save money. Live better" ads, and the downtrodden getting a lift from lower gas prices, "this is Walmart time," as President-CEO Lee Scott said.

5. THRIFT STORES

Even before Sarah Palin emerged as the industry's celebrity endorser, thrift stores were doing quite nicely in the recession. Sales were up 7% through the first eight months of 2008 at U.S. Goodwill stores, beating even Walmart's (especially on the apparel side). Maybe Ms. Palin's favorite Wasilla thrift store will accept all those GOP-financed duds from Nordstrom and Bloomingdales on consignment, adding some more fuel to the fire.

6. LAXATIVES

Apparently nothing clenches the sphincter quite like plunging stocks and soaring unemployment. But consumers are doing their part to restore liquidity. Laxatives traditionally do well in recessions, and this one is no exception. Information Resources Inc. data show laxative liquids and powders up 20.9% for the 52 weeks ended Nov. 2. All that growth came from Miralax, which switched from prescription to over-the-counter in April 2007. But category sales were still up 7% in the third quarter from a year ago.

7. CABLE TV

Finally, cable TV's failure in advertising is starting to pay off -- or at least it will keep the likes of Comcast, Time Warner Cable and Cablevision from getting hurt as badly as their brethren in a killer media recession. Take Comcast: In Q3, ad revenue took a 10% hit, but since advertising accounts for a tiny portion of Comcast's business (less than 7%), overall revenue was up 10%. Sure, some strapped consumers will look to their cable bills when trying to reduce home expenses, but will many do without cable? Doubtful.

8. GUNS

Maybe people do cling to their guns after all. Barack Obama's stance on gun control and the teetering economy have proven to be a potent stimuli for the gun industry. Government and trade-association data reveal a 10% increase in sales of firearms and ammunition in the months leading up to the election. Now, with Mr. Obama on his way to the White House and the nation officially in recession, we can only imagine that rifles will top many a holiday wish list.

9. SPAM

Spam -- the canned meat, not the unwanted e-mail -- was invented during the Great Depression. Sales are up by double digits, and it has been getting support from BBDO, Minneapolis. A Hormel exec told Ad Age he wouldn't peg Spam's success to the economy, but The New York Times noted last month that Hormel's Austin, Minn., plant has two shifts working seven days a week to meet demand.

10. CHEAP BEER

Goodbye, Budweiser; hello, Busch. If you are selling cheap beer, you have nothing to fear in a recession. Bottom-shelf dwellers such as Keystone and Miller High Life have seen sales surge as the economy has bottomed out. Consumers have traded down from pricier brews like Corona and Heineken, which have seen once-hot sales cool dramatically of late

-Youngest African American CEO of a Publicly Traded CO.

2008-12-22T19:20:00.000-08:00

-quote of the day

2008-12-22T05:02:00.000-08:00

"Since the market tends to go in the opposite direction of what the majority of people think, I would say 95% of all these people you hear on TV shows are giving you their personal opinion. And personal opinions are almost always worthless … facts and markets are far more reliable."

William J. O'Neil

-investment game

2008-12-21T15:42:00.000-08:00

So, you think you're the next Warren Buffett?

Well join the BCC Finance Club Investment Game

Stay tuned for complete rules and details.

-Isn’t it time you stopped pretending to understand what a hedge fund is? We tell you all you need to know, in plain English

2008-12-18T06:52:00.000-08:00

Just what is a hedge fund?
It’s only a vehicle for investing, albeit one that happens to be less constrained than most. Your run-of-the-mill mutual fund, for example, buys stocks and bonds, and that’s pretty much it. Most are not even allowed to employ short selling, a way of betting that the price of a security will fall. Hedge funds can employ whatever investing tools they want, including leverage, the use of derivatives like options and futures, and short sales. The New YorkTimes decided years ago to incessantly refer to hedge funds’ use of these instruments as “exotic and risky,” thereby adding to their aura of mystery. The funny thing: Practically all financial institutions use these “exotic” instruments.

There’s a much simpler way of putting it, offered by one of the industry’s luminaries. According to Cliff Asness of AQR Capital, “Hedge funds are investment pools that are relatively unconstrained in what they do. They are relatively unregulated (for now), charge very high fees, will not necessarily give you your money back when you want it, and will generally not tell you what they do. They are supposed to make money all the time, and when they fail at this, their investors redeem and go to someone else who has recently been making money. Every three or four years, they deliver a one-in-a-hundred-year flood.”

Although the origin of hedge funds dates back to Alfred Winslow Jones and the fifties, it wasn’t until the late sixties that the category became a recognizable seedling of its current state: a group of highly skilled traders catering to a very wealthy clientele willing to gamble to get humongous returns. The first true stars of the hedge-fund universe—people like Soros, Michael Steinhardt, and Bruce Kovner—were experts in commodities and currencies and figured out how to exploit inefficiencies in those markets. Because they raised money privately—largely from friends and business associates—they avoided most of the disclosure requirements of U.S. securities laws. That meant they didn’t have to explain to anybody how much money they had or what exactly they did with it. The deal, in effect, was this: Rich guys could gather up money from other rich guys without oversight, so long as they agreed not to utter a word to the general public that could be construed as “solicitation,” including “communication published in any newspaper, magazine, or similar media.” Not that there was any point in soliciting the public anyway. To get into a fund, you had to invest $2.5 million. Managers were expected to have their own money in the fund, an informal check against reckless risk-taking.

This article appeared in the NYT magazine.

Term of the Day

2008-12-18T06:43:00.000-08:00

Nasdaq Composite Index

A market-value weighted index of all common stocks listed on Nasdaq. The Nasdaq Composite dates back to 1971, which is when the Nasdaq exchange was first formalized. The index is used mainly to track technologystocks, and thus it is not a good indicator of the market as a whole. Unlike the Dow Jones Industrial Average(DJIA), the Nasdaq is market value-weighted, so it takes into account the total market capitalization of thecompanies it tracks and not just their share prices

-President

2008-12-17T18:20:00.000-08:00

Thank you to all that attended the second meeting of the BCC Finance Club. We are off for winter recess and will have our fist meeting in the new semester on Jan 28th.

-club

2008-12-17T08:06:00.000-08:00

Meeting Today

Room C-313

5:15PM

Join Us!

-Wednesday Dec 17th Itinerary

2008-12-14T18:06:00.000-08:00

We will assign posts to all members and discuss...

-2 community service activities (required by the school)

-2 fundrasing events (required too)

-The Forming of the Club's first project

The Bcc Bulletin Board where we look to better the communication infrastructure at Bergen and earn revenue for the club.

And the start of the Finance Club Investing Challenge

Join Us!

-some advice for small business owners

2008-12-12T06:58:00.000-08:00

-Newspaper Bubble

2008-12-10T23:50:00.000-08:00

The Newspaper Bubble, Too, Has Burst

By RICHARD PÉREZ-PEÑA

Published: December 9, 2008

The bankruptcy filing of the Tribune Company on Monday is just the latest, largest evidence that the American newspaper industry is suffering the hangover from an immense buying spree in 2006 and 2007 at what turned out to be the worst possible time for the buyers, just as the business was about to enter a drastic decline.

Newspapers would be in trouble either way. The steady leak of advertising and readers from print to the Web has become a widening torrent in this recession year. Most newspapers remain profitable, but the margins are dropping fast, with the industry losing about 15 percent of its ad revenue this year.

For the rest of the article click here.

-Next Meeting Events

2008-12-10T18:26:00.000-08:00

The Finance Club's next meeting will be held on Wednesday, Dec 17th at 5:15pm in Room C-313.

Officers will be appointed for the following posts.

-Public Relations Officer

-Chief Financial Officer

-Chief Operations Officer

-Quality Controls Officer

-Chief Marketing Officer

Click to see a brief description of the posts.

Click here to see the Finance Club Organizing Board and its departments.

We will also discuss the structure of the club as we get ready for begin our activities in the spring semester. You can comment at the bottom of this post.

-Stocks Gain

2008-12-09T08:11:00.000-08:00

Most U.S. Stocks Gain, Led by Energy, Technology Companies

Email | Print | A A A

By Whitney Kisling

Dec. 9 (Bloomberg) -- Most U.S. stocks gained for a third day as investors snapped up technology and energy shares trading near their cheapest levels on record, overshadowing disappointed forecasts at companies from FedEx Corp. to Danaher Corp.

National Semiconductor Corp., the maker of chips for the five largest mobile-phone companies, jumped 15 percent even after forecasting sales that trailed analysts’ estimates. Chesapeake Energy Corp. jumped 10 percent to lead gains in oil and natural-gas producers. FedEx lost 11 percent after saying a “significantly weaker” economy will crimp profits, while Danaher Corp., maker of Craftsman tools, slid 1.6 percent.

Almost five stocks rose for every two that fell on the New York Stock Exchange. The Standard & Poor’s 500 Index increased 0.4 percent to 913.27 at 10:53 a.m. in New York. The Dow Jones Industrial Average declined 32.42 points, or 0.4 percent, to 8,901.76 and Nasdaq Composite Index added 1.8 percent to 1,599.62.

The S&P 500 extended its gain from an 11-year low last month to 21 percent yesterday, marking a technical end to the 14-month bear market as President-elect Barack Obama pledged the biggest public-works spending package since the 1950s. The benchmark index is down 39 percent in 2008 after the collapse of subprime mortgages curbed earnings for five straight quarters.

European shares rose for a second day and Asian stocks climbed for a third, led by commodity producers and shipping lines, on expectations stimulus plans from the U.S. to India will buoy the global economy.

The gains in computer companies came as companies in the S&P 500 Information Technology Index traded at 13.8 times reported profits, less than half their average price-to-earnings ratio over the last five years.

Energy shares in the S&P 500 traded at 6.7 times earnings, near last month’s low of 5.6, which was the cheapest level since Bloomberg began tracking the data in 1995.

$1 Trillion

More than $31 trillion has been erased from the value of global equities this year, while debt losses and writedowns at the world’s largest lenders and insurers approach $1 trillion.

Stocks will climb in 2009 in the face of falling earnings and a slowdown in economic growth because of cheap valuations, according to strategists at Credit Suisse Group AG, Deutsche Bank AG and Merrill Lynch & Co. The S&P 500 may rise to 1,050 by the end of 2009 from yesterday’s close price of 909.7, a team of Credit Suisse strategists wrote in a note today. Goldman Sachs Group Inc. chief investment strategist David Kostin projected a 21 percent gain by the end of next year as the economy stabilizes.

-Obama on his stimulus plan

2008-12-08T06:17:00.000-08:00

He said it's going to get worse before it gets better. How much worse do you think it could get?

-Next Meeting

2008-12-07T01:25:00.000-08:00

Wednesday, Decemeber 17th

5:15 PM Room C-313

-post available CMO

2008-12-06T09:09:00.000-08:00

Chief Marketing Officer

Promotion and Marketing

will use flyers and presentations to inform BCC's students of the club's activities and events.

Publications

will be in charge of designing and printing all of the club's promotional pieces.

Registration

will contact students who have expressed interest in the club. Will coordinate any presentations given to Bcc students in behalf of the club.

-What is Short Selling?

2008-12-05T20:43:00.000-08:00

-posts avaiable CFO

2008-12-04T21:01:00.000-08:00

Chief Financial Officer

Officer will handle all financial matters pertaining to the club. Dealing with school officials to get adequate budgeting for the club's activities.

Income: will handle all monies allotted to the club.

Disbursements will handle all disburses of funds for purchasing any items needed for the club's activities.

Records, Assets and Materiel : will keep accurate records of all financial transactions, book keeping and financial reports .

-Join the Finance Club Open Discussions

2008-12-04T18:59:00.000-08:00

With unemployment hitting a 26 year high what ramifications do you think it will have on the ailing economy?

-Post you comments below

-First Meeting

2008-12-03T20:10:00.000-08:00

Thanks to all that attended the first meeting!

-12.3.08

2008-12-03T19:19:00.000-08:00

-Open Discussions

2008-12-03T19:15:00.000-08:00

-First Meeting Today

2008-12-02T20:46:00.001-08:00

Room C-313

5:15 PM

All are welcome.

Automakers Seek Bailout

2008-12-02T20:42:00.000-08:00

Some say they should be bailed out because of the ramificatons their failure could have. Others think they should let the market correct itself. Comment on what you think should be done.

-

2008-11-23T12:34:00.001-08:00

-the hedge fund effect

2008-11-23T10:12:00.000-08:00

Part of the reason why stocks have fallen so much is the outflow of hedge funds.

-start trading today

2008-11-21T20:24:00.001-08:00

-now recruiting

2008-11-20T20:41:00.000-08:00

treasurer

production officer

marketing officer

operations officer

What is the BCC Finance Club?

2008-11-20T20:37:00.000-08:00

The club will cover business and finance in general.
Special attention will be given to current events.
Topics covered will be requested by members and pertain to their future careers.
Stress will be put on Company analysis: (annual reports, balance sheets, income statements, cash flow statements) with the purpose of investing and development of an investing strategy.

Lecturers

Credit Default Swaps Expert
American Express Treasurer
Former IRS auditor
SOX Specialist
Risk Management Expert

Activities

Company Stock Analysis presentations (power point)
Simulated Online Investing (online using fake money but real time stock prices)
BCCFC Investing Challenge (each person will be given a portfolio of "$100,000" and compete for the highest return)

-announcement

2008-11-19T20:57:00.000-08:00

First Meeting

Wednesday Dec 3rd

5:15 Room C-313

-1st Meeting Wednesday, Dec 3rd

2008-11-19T11:07:00.000-08:00

Hedge Fund Managers Testify

2008-11-16T14:12:00.000-08:00

Are they to blame or is it a problem with tax loop holes?

-Quote

2008-11-16T13:13:00.000-08:00

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

- Warren Buffet

BCC Finance Club

Next meeting:

First Meeting

Under Reformed Management

Bill Gates and Steve Jobs - Business Talk

Meeting

Job Losses Show Breadth of Recession

Multimedia

The Geography of a Recession

Related

Times Topics: David Leonhardt

»

-entrepreneurs

The Mortgage Meltdown

The Credit Crisis Visualized

Learn How to Build and Finance Your Business at Bergen Community College, February 26, 2009

Bus 101: Business Ethics

Yoshie

-Announcement

MBA Talk - Warren Buffett

Term of the Day - sector

Unspoken Link Between Credit Cards and Colleges

-wall street lingo - Bears

Recession Proof Businesses

Recession-Proof Businesse

-Youngest African American CEO of a Publicly Traded CO.

-quote of the day

-investment game

-Isn’t it time you stopped pretending to understand what a hedge fund is? We tell you all you need to know, in plain English

Term of the Day

Nasdaq Composite Index

-President

-club

-Wednesday Dec 17th Itinerary

-some advice for small business owners

-Newspaper Bubble

The Newspaper Bubble, Too, Has Burst

-Next Meeting Events

-Stocks Gain

-Obama on his stimulus plan

-Next Meeting

-post available CMO

-What is Short Selling?

-posts avaiable CFO

-Join the Finance Club Open Discussions

-First Meeting

-12.3.08

-Open Discussions

-First Meeting Today

Automakers Seek Bailout

-

-the hedge fund effect

-start trading today

-now recruiting

What is the BCC Finance Club?

-announcement

-1st Meeting Wednesday, Dec 3rd

Hedge Fund Managers Testify

-Quote