While scores of their colleagues go on to accept jobs on Wall Street after graduation, a small group of Harvard undergrads decide to jumpstart their portfolio-building skills while still at the College.
Once a week, members of Harvard's two largest investment clubs--the Cambridge World Fund (CWF) and the Charles River Growth Fund (CRGF)--come together to pool their money and their expertise in picking the best stock portfolio.
Call them the Beardstown Ladies with a Harvard flair.
Members of the two groups, which together have about 105 members, agree that earning money is a driving force of their work, but say participating in the clubs is an invaluable chance to experience the nitty-gritty of the business world.
Bouncing on the Bubble
The recent downturn in the NASDAQ index caused sent more than a few shock waves through the respective memberships of the two clubs--both of which require students to invest a minimum amount of their own money in the funds.
CRGF invests mainly in technology stocks, while CWF invests exclusively in technology stocks--the majority of which trade on the NASDAQ.
So, when the market takes a downturn as it has in the past few weeks, falling more than 25 percent from a recent high, members of the CWF and CRGF have more than just an academic interest.