Miami MBAs Participate in Live CNBC Broadcast
February 29, 2008
More than a dozen MBA students from the School of Business Administration took part in a live broadcast of CNBC’s Fast Money program on Friday, February 29th. The students, who are members of the school’s MBA Finance and Investment Banking Club, were among 700 people who turned out for the broadcast at the Biltmore Hotel in Coral Gables.
Much of the program focused on finance issues related directly to South Florida, such as the real estate market, Latin American business and baby-boomer industries. The students watched and listened as the show’s host, Dylan Ratigan, and the show’s professional traders discussed industries and specific stocks they like and dislike. It was a rare opportunity to be up close with these successful traders, who included Guy Adami, a former executive director at CIBC World Markets; Jeff Macke, founder and president of Macke Asset Management; Pete Najarian, ranked as one of the top 100 traders by Trader monthly magazine and co-founder of optionMONSTER.com; and Karen Finerman, president of Metropolitan Capital Advisors Inc.
“I think it was a great experience for students to be around such high caliber traders and hear from them,” said Heather Williams, president of the MBA Finance and Investment Banking Club. “These traders had a lot of insight into the markets, especially Latin America,” said Williams.
In addition to hearing from the professional traders, the students heard from former GE chief executive Jack Welch, who joined the show on the telephone, and Miami Heat center Alonzo Mourning, who showed up in person to share his own stock picks as the Fast Money mystery guest. The students were joined in the audience by Dean Barbara Kahn; Anuj Mehrotra, vice dean of graduate business programs; Douglas Emery, Bank of America Scholar and chairman of the school’s finance department; Tie Su, associate professor of finance; and Linda Rump, director of the Ziff Graduate Career Services Center.
In addition to participating in the hour-long program, which aired at 5:00 p.m. and again at 8:00 p.m. Friday evening, the students had the opportunity to ask questions of the traders during a one-hour session called “Fast Money University,” which directly followed the live broadcast. Second-year MBA student Lucas Hand asked for some insight into telecommunications providers in Latin America and whether wireless or infrastructure companies look most attractive. In answering Hand’s questions, Fast Money expert Tim Seymour said he likes NII Holdings (formerly Nextel International) and America Movil. Seymour added that he favors the wireless industry over infrastructure because in developing countries where infrastructure had not been established, consumers often go directly for mobile phones.
“I currently own NII Holdings and wanted to learn more about the state of the wireless industry in Latin America and whether there are any other buying opportunities,” said Hand about why he asked the question.
The students were invited to participate in the audience after many of them attended the first live taping of Fast Money in New York City last October. The students visited the studio to see the show during their annual Wall Street Week trip to New York and they plan to stop by for another visit the next time they go.