{"id":11982,"date":"2014-08-22T16:26:14","date_gmt":"2014-08-22T20:26:14","guid":{"rendered":"https:\/\/blogarchive.utc.edu\/news\/?p=11982"},"modified":"2017-03-15T15:43:53","modified_gmt":"2017-03-15T19:43:53","slug":"utc-finance-students-complete-internship-takes-stock-market-farm","status":"publish","type":"post","link":"https:\/\/blogarchive.utc.edu\/news\/2014\/08\/utc-finance-students-complete-internship-takes-stock-market-farm\/","title":{"rendered":"UTC Finance students complete internship that takes them from the stock market to the farm"},"content":{"rendered":"<p><a href=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"300\" data-attachment-id=\"11983\" data-permalink=\"https:\/\/blogarchive.utc.edu\/news\/2014\/08\/utc-finance-students-complete-internship-takes-stock-market-farm\/galtere-interns-2014-mn-grain-tower-featured\/\" data-orig-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured.jpg\" data-orig-size=\"448,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1402999595&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.85&quot;,&quot;iso&quot;:&quot;80&quot;,&quot;shutter_speed&quot;:&quot;0.0005&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"galtere-interns-2014-mn-grain-tower-featured\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured.jpg\" class=\"alignright size-medium wp-image-11983\" src=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured-224x300.jpg\" alt=\"Grain Tower\" style=\"max-width: 100%;\"style=\"max-width: 100%;\" srcset=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured-224x300.jpg 224w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured-149x200.jpg 149w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured-298x400.jpg 298w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-grain-tower-featured.jpg 448w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/a>Four UTC Finance students were selected to participate in a four-week summer internship with Galtere, Ltd., the commodities-focused hedge fund of Ren\u00e9e Haugerud. The experience took the students from the skyscrapers in New York City to a farm in Preston, Minnesota.<\/p>\n<p>Stephen Reaves, Nicole Koegel, Cody Edwards, and Tyler Gallups got a firsthand experience of live trading, intensive research, and the knowledge and advice of Wall Street professionals in NYC. The students were put to work on a global asset hedge fund. They blogged about their experiences.<\/p>\n<p>\u201cAs part of our internship experience, we were given a portfolio to \u2018roll.\u2019 We closed out positions and then entered into new ones. We had to get out of a contract by the first notice date or the physical asset would be delivered to us. We can\u2019t have 1,000 barrels of unprocessed crude oil coming to the doorstep!\u201d Reaves wrote. \u201cThat is a glimpse of what we have been doing here.<\/p>\n<p>Ren\u00e9e Haugerud had spoken with Paul Tudor Jones, and he said he would hire someone straight out of college if they knew how to roll positions and perform basic portfolio management techniques.\u201d<\/p>\n<p>\u201cWe spend our days researching EVERYTHING!\u201d Koegel wrote. \u201cWe are each responsible for a paper portfolio of $100M in addition to group projects. Our positions need to be from a macro perspective across multiple asset classes, so research is very important.\u201d<\/p>\n<p><a href=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"300\" data-attachment-id=\"11984\" data-permalink=\"https:\/\/blogarchive.utc.edu\/news\/2014\/08\/utc-finance-students-complete-internship-takes-stock-market-farm\/galtere-interns-2014-nyc-01\/\" data-orig-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01.jpg\" data-orig-size=\"448,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1401782618&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.85&quot;,&quot;iso&quot;:&quot;80&quot;,&quot;shutter_speed&quot;:&quot;0.0071428571428571&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"galtere-interns-2014-nyc-01\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01.jpg\" class=\"alignleft size-medium wp-image-11984\" src=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01-224x300.jpg\" alt=\"NYC\" style=\"max-width: 100%;\"style=\"max-width: 100%;\" srcset=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01-224x300.jpg 224w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01-149x200.jpg 149w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01-298x400.jpg 298w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-nyc-01.jpg 448w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/a>Group collaboration also played a key part in the internship experience.<\/p>\n<p>\u201cThere is a varied knowledge base within this group which helps the diversity of ideas and conversation. The collaboration between all of us is enlightening and helpful. The ability to talk out ideas and help teach one another has proven to be strength. It has enabled us to be confident in our thought process and take positions on themes and trades accordingly,\u201d Koegel wrote.<\/p>\n<p>The experience also included conversations with guest speakers such as a Foreign Exchange trader from Barclays, a trader from Galtere Ltd., and an analyst from Queen Anne\u2019s Gate Capital.<\/p>\n<p>\u201cThe knowledge and experience the speakers have shared with us is priceless. This kind of information goes well beyond the text book and we are able to witness the industry in action,\u201d Koegel wrote.<\/p>\n<p>The last week of the internship was spent in Preston, the site of Haugerud\u2019s farm.<\/p>\n<p>\u201cHaugerud\u2019s father was a farmer, so she began to understand commodities and futures literally from the ground up. She learned the impact of big yield crops on the market, so she understood the business from the dirt to the market,\u201d said Katrina Craven, Director of Marketing and Communications in the UTC College of Business. \u201cI think it was very enlightening for the students to see the industry from that side as well, it\u2019s very different than just reading the stock reports on the screen.\u201d<\/p>\n<p>Students stayed at the Jailhouse Inn, Haugerud\u2019s childhood home that has since been turned into a bed and breakfast. Students met with the father and son team that currently runs the farm.<\/p>\n<p><a href=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"300\" data-attachment-id=\"11985\" data-permalink=\"https:\/\/blogarchive.utc.edu\/news\/2014\/08\/utc-finance-students-complete-internship-takes-stock-market-farm\/galtere-interns-2014-mn-pigs\/\" data-orig-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs.jpg\" data-orig-size=\"448,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1403000065&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.85&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0083333333333333&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"galtere-interns-2014-mn-pigs\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs.jpg\" class=\"alignright size-medium wp-image-11985\" src=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs-224x300.jpg\" alt=\"Pigs\" style=\"max-width: 100%;\"style=\"max-width: 100%;\" srcset=\"https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs-224x300.jpg 224w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs-149x200.jpg 149w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs-298x400.jpg 298w, https:\/\/blogarchive.utc.edu\/news\/files\/2014\/08\/galtere-interns-2014-mn-pigs.jpg 448w\" sizes=\"auto, (max-width: 224px) 100vw, 224px\" \/><\/a>\u201cThey were kind enough to explain the entire process of their business. We were able to see ALL of their equipment and they explained in detail how each machine works. They also shared the cost of carry invoices with us so we could literally see how their business works,\u201d said Koegel said in her blog.<\/p>\n<p>The students were also able to speak with crop insurance salesmen, soil quality testers, and Ren\u00e9e Haugerud herself.<\/p>\n<p>\u201cThe Minnesota aspect of the trip gave insight into how the futures market is able to exist. We were exposed to first-hand knowledge that students do not normally have the opportunity to experience,\u201d Koegel explained.<\/p>\n<p>The internship was made possible through Galtere, Ltd\u2019s Founder, Chief Investment Officer and Managing Principal, Ren\u00e9e Haugerud. Haugerud and her husband, UTC alumnus and former Mocs football player, John H. Murphy, established the Galtere Institute: Finance for the Future Initiative at UTC\u2019s College of Business in 2009. The Institute\u2019s mission is to promote the art and science of trading and investing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Four UTC Finance students were selected to participate in a four-week summer internship with Galtere, Ltd., the commodities-focused hedge fund of Ren\u00e9e Haugerud. The experience took the students from the skyscrapers in New York City to a farm in Preston, Minnesota. Stephen Reaves, Nicole Koegel, Cody Edwards, and Tyler Gallups got a firsthand experience of&hellip; <\/p>\n<p class=\"more-link-wrap\"><span><a class=\"more-link button text\" href=\"https:\/\/blogarchive.utc.edu\/news\/2014\/08\/utc-finance-students-complete-internship-takes-stock-market-farm\/\"><span>Continue Reading <\/span><\/a><\/span><\/p>\n","protected":false},"author":857,"featured_media":11983,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_ef_editorial_meta_date_first-draft-date":"","_ef_editorial_meta_paragraph_assignment":"","_ef_editorial_meta_checkbox_needs-photo":"","_ef_editorial_meta_number_word-count":"","_ef_editorial_meta_checkbox_slider":"","_ef_editorial_meta_checkbox_featurette":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123864,57,661],"tags":[866],"class_list":{"0":"post-11982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advancement-and-alumni","8":"category-college-of-business","9":"category-students","10":"tag-internship","11":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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