Participant teams are established during the integration process of the program. Individual teams are assigned sectors of the S&P 500 according to interest. Students are involved in managing every aspect of the Bulldog Fund, LLC; from research and analysis through daily exposure oversight and comprehensive portfolio management.
Students are responsible for generating investment ideas consistent with the Bulldog Fund, LLC investment strategy; an enhanced S&P 500 strategy utilizing a "portable alpha" component. Based on their research, each team chooses a "relative value" opportunity from within its sector. Teams seek to identify opportunities to "arbitrage" value from like company stocks; in essence, they recommend going "long" and "short" certain stocks based on their analysis.
Students are exposed to three types of analysis; fundamental, technical and quantitative analysis. Students are expected to incorporate all three forms into their investment research and recommendation. Traditionally, there are four "rebalance" opportunities scheduled throughout the academic year. These dates allow students the opportunity to present formal recommendations to the program's Investment Oversight Committee.
The Investment Oversight Committee is comprised of several industry professionals who are responsible for granting the final decision on the students' recommendations.