Portfolio projects
Build portfolios for different investor goals and risk profiles. Evaluate allocations using measures such as return, volatility, correlation and Sharpe ratios.
Emory University · Goizueta Business School
A student organization dedicated to learning about investment research, portfolio construction and risk management.
Open to all full-time Emory students. No prior experience required.
01 / About us
The Goizueta Portfolio Management Club gives students practical experience building, analyzing and managing investment portfolios.
Members study asset allocation, diversification and performance across asset classes, with an emphasis on managing a complete portfolio.
Build portfolios for different investor goals and risk profiles. Evaluate allocations using measures such as return, volatility, correlation and Sharpe ratios.
Discuss market developments and their implications for investment decisions. Apply portfolio concepts through research and case studies.
Prepare portfolio reports and present investment strategies to fellow members. Opportunities may also include portfolio competitions.
02 / Our organization
Members join one of four teams. Applicants may express interest in more than one.
Develop and test quantitative models and rules-based investment strategies. This team also builds the research tools on this website.
Research companies, sectors and asset classes to compare investment opportunities and inform portfolio allocations.
Study how capital is allocated across investments and how diversification, volatility, correlation and concentration affect portfolio risk.
Coordinate outreach to alumni, faculty, industry professionals and sponsors, along with speakers and external opportunities for members.
03 / Membership
Membership is open to all full-time Emory students. There are no dues, and no prior experience is required. Applications are reviewed blind.
Application form and deadlines to be announced.
Membership at GPMC
Learn about portfolio management through research, group projects and discussions with fellow Emory students.
All majors welcome. No prior experience required.
01 / Member benefits
Members gain practical experience in investment research and portfolio management, with opportunities to present their work and take on leadership roles.
Develop skills in asset allocation, investment research, risk analysis and performance evaluation through portfolio projects.
Prepare investment policy statements, allocation models and portfolio reports. Present your work to the club and build experience to discuss in interviews.
Meet students interested in asset and wealth management, connect with faculty and industry professionals, and pursue team or club leadership opportunities.
02 / Our teams
Explore the four teams below.
You may select more than one when applying.
Use data, quantitative models and rules-based approaches to build, test and evaluate systematic investment strategies.
Data · Models · TestingResearch companies, sectors and asset classes to evaluate investment opportunities and inform portfolio allocations.
Research · Valuation · Investment casesStudy asset allocation, diversification, correlation and concentration to measure and manage portfolio risk.
Allocation · Diversification · RiskDevelop relationships with alumni, faculty, professionals and sponsors, and coordinate speakers and external opportunities for members.
Relationships · Speakers · Outreach03 / Applications
Applications are evaluated on reasoning and interest in the club. Students from all majors and experience levels are welcome to apply.
Application form and deadlines to be announced.
Review the four teams and select those that interest you. You may express interest in more than one.
Applications are reviewed blind. Explain your interest in the club and how you think about portfolio management.
Selected applicants interview with their team. The Executive Board sets the process each semester; details may vary by team.
Eligibility and policies
Membership is open to all full-time, enrolled Emory students, with no dues and no prior experience required. We’re committed to equal opportunity, mutual respect and a community free of hazing.
The club, as a representative of Emory University, is dedicated to providing equal opportunities and equal access to all individuals regardless of race, color, religion, ethnic or national origin, gender, genetic information, age, disability, sexual orientation, gender identity, gender expression, and veteran’s status. The club does not condone or participate in hazing of any kind.
The full constitution, including officer duties, elections and amendment procedures, is maintained separately and available on request.
Become a member
Join a community of students interested in investment research and portfolio management. Students from all majors and experience levels are welcome to apply.
Open to all full-time Emory students. No membership dues.
01 / Getting started
We review applications based on your reasoning and interest in the club. Prior experience and personal connections are not part of the evaluation.
The application asks for your year, Emory NetID, phone number and major. Do not include your name anywhere in your responses.
Applications that include your name are automatically rejected under the blind-review policy.
02 / Your application
Review the prompts and word limits as you prepare your responses.
Systematic Portfolio Management, Fundamental Portfolio Management, Asset Allocation & Risk, or Investor Relations. You may select more than one.
Explain your interest in becoming a member.
Describe the factor you think is most important, and explain why.
Choose a topic you find interesting and are knowledgeable about.
03 / Next steps
Selected applicants interview with the team they applied to. Questions are set by each team’s head and may vary by year.
Interviews focus on how you approach a problem and support a decision.
Explore market data, review company financials and compare investments. Tools for individual research and club portfolio discussions.
Checking member access…
Choose your starting cash, trade across the instruments in Research Tools, and follow your results. Start today or replay the market from a date in the past.
Each portfolio belongs to your member account and is saved across visits and devices. Starting cash is fixed once you create it; make another portfolio to try a different amount or start date.
Your clock only moves forward. Pending orders fill at the first available daily open after they were placed. Create a new portfolio to restart.
Buy with a USD amount and sell a percentage of a holding. Fractional units are supported. Stocks, ETFs, bond funds, crypto, currency pairs, indices and commodity prices use the same instrument search as Ticker Lookup, subject to the club’s data coverage. Indices, spot commodities and FX are simulated price exposures, not exchange-traded contracts. Individual bonds are not covered. Currency pairs track percentage changes as fully funded USD price exposures ($1 per quoted rate point), rather than exchanging cash currencies.
Present-day market orders execute at the latest provider price while that market is open. Quotes more than 20 minutes old or without a reliable update timestamp cannot execute trades. Prices refresh each minute while this tab is visible and on request; holdings remain saved when you leave. A market order’s execution price can differ from its preview.
Historical replay uses split-adjusted daily prices. Orders execute at a later session’s open; valuations use closes available by the replay date. Historical unit counts are adjusted units, not necessarily the share counts quoted at the time. Split adjustments update held units without changing cost basis. Non-USD prices are converted to USD; historical fills use the prior available FX close. The price timestamp shows when each instrument was last observed, including carried prices on holidays.
Portfolios are long-only and fully funded. Returns exclude dividends, interest, fees, bid–ask spreads, slippage and taxes. There is no margin, borrowing, futures multiplier or actual order routing. Unsupported or unavailable data stops the action rather than inventing a fill. Up to 20 held instruments and 50 saved portfolios per member.
Type a symbol or name. Use ↑ ↓ and Enter to choose a suggestion.
Selecting an item loads its chart. Commodity price access depends on the site's data plan. Funds show share prices, which can differ from the underlying commodity price.
Explore the financial performance behind a company’s stock. Review statements, compare companies, and go directly to the filings for the full story.
Search a name and select a match, or enter a ticker directly. US GAAP financials in USD where available.
Choose a company to begin.
Annual, quarterly and trailing 12-month financials, with sources for reported numbers and calculations.
Compare margins, capital investment, cash generation, liquidity and returns on equity over time.
Read management’s discussion, business risks, quarterly updates, governance disclosures and insider filings.
Select a statement row name to chart its history, or a value to inspect its source. Free cash flow is operating cash flow less capital expenditures.
Operating cash flow less capital expenditures. This does not include dividends, buybacks or financing.
USD financials. Share counts use the selected scale; EPS is USD per share. Quarterly figures may be calculated from cumulative disclosures. EPS and weighted share counts are not summed or subtracted. — means unavailable.
Calculated for the selected reporting period. Quarterly returns on equity and assets are not annualized. — means an input is missing or the ratio is not meaningful; no missing values are treated as zero.
Bars show separate cash flows on a common scale, not parts of a total. Broader dividends/distributions can include common, preferred and noncontrolling holders; they are not added to the common-dividend field. Acquisitions are net of cash acquired. Share-based compensation is a noncash expense and is shown separately in the history.
Weighted average diluted shares can change with issuance, repurchases, dilution and stock splits; the series does not isolate the effect of buybacks. Debt figures are ending balances, not borrowing or repayments. Select a value to inspect its source. — means unavailable.
Notes save automatically in this browser, under this company’s SEC issuer. They are not shared with the club or synced between devices. Anyone using this browser profile may access them; clearing site data removes them. Download a copy to keep a backup.
Choose the sections to include. The report uses the selected reporting basis, your current peer comparison and any market-cap inputs entered this session. Review the preview, then print or choose Save as PDF in your browser’s print dialog.
The downloaded HTML is a standalone report you can open or share. Included notes will be visible to anyone you share it with. Financial sources and calculation details appear at the end.
Compare this company with up to four peers you choose. Each column shows its own fiscal dates; matching reporting bases may still cover different dates. Companies with the same SEC issuer are shown once.
Choose companies you consider comparable.
One common scale. Each company keeps its own reporting dates; this is a comparison, not an investment ranking.
Enter a company-wide market capitalization from your market-data source, including all common share classes. These calculations use your input, not a live market quote. The financial basis is the latest available trailing 12 months, or the latest annual period if no TTM history exists.
Enter a market capitalization and its date to begin.
The earnings multiple uses parent net income and may differ from a quoted P/E, particularly for issuers with preferred stock. Enterprise-value multiples are not estimated from incomplete debt data.
Explore how operating assumptions translate into cash flow and company value.
Choose the historical financials and forecast period.
Review the starting balances. Expand a source to inspect a reported value or estimate.
Historical balances are carried forward to the model date without an interim estimate. Debt, cash reserves and valuation adjustments use editable assumptions. Share and market estimates use a recent SEC common-share snapshot and a dated USD price, exclude potential dilution, and may miss later share changes. Fill actions keep existing entries.
Excess cash and senior claims adjust enterprise value to equity value once. Do not include operating cash or double-count claims. Projected ending cash is not added again.
Edit one scenario at a time. Each column represents a full forecast year.
Historical ratios seed the model where available. Other defaults use 25% tax, 10% depreciation, 45-day working-capital cycles, 5% interest, 2% minimum cash and no discretionary financing or payouts. Growth fades toward 3%; upside/downside begin ±2 percentage points from base growth and gross margin. These are starting assumptions, not company guidance.
Percentages use percentage points: enter 10 for 10%. Cash amounts are in USD millions.
Set the discount rate, long-term economics and scenario weight. These affect valuation, not the operating forecast.
Compare value and funding needs across the three operating cases. Amounts are USD millions unless labeled per share.
Annual scenario paths · USD, abbreviated as M / B / T.
Forecast cash flows and terminal value are discounted to the model date. Additions and deductions connect business value to the equity residual.
How the selected scenario changes with the discount rate and long-term growth.
Lower value Higher value · within this grid
Reverse DCF solves for the growth rate that matches your market-cap input, holding other assumptions fixed.
NYU Stern: free cash flow to the firm ↗ · Terminal growth and reinvestment ↗
Annual reports include business descriptions, risk factors, management’s discussion and footnotes. Proxy statements cover executive compensation and governance. These links open the original documents; the financial tables use annual and quarterly reports.
Debt rows can overlap: commercial paper may be included in short-term borrowings, and total long-term debt includes its current portion. Do not add every debt row together. Ratios are general-purpose measures and may be less useful for banks, insurers and other specialized businesses.
Filings shown here come from the SEC’s recent filing history, which may cover a different span from the financial tables. Use the full EDGAR history for older reports. Company-specific segments, non-GAAP adjustments, guidance and detailed notes should be read in the original documents.
Choose holdings and target weights, set a historical window, and compare the result with a benchmark. USD stocks and ETFs · up to 12 holdings.
Price-return backtest. Uses split-adjusted daily closes. Dividends, fund distributions and coupons are excluded, so this is not total investment return. Both portfolio and benchmark use this same basis.
Weights must total 100%. Costs apply to every dollar bought or sold, including entry; 10 bps = 0.10%. Rebalancing occurs at the first available close of a new calendar month, quarter or year. Dates must end before today; maximum window is 12 years.
Choose your portfolio and run a historical backtest.
The original risk analysis is also available below. It uses its own range and rebalancing settings.
Drawdown includes entry costs and subsequent trading costs. The starting capital is the initial peak.
* First and last months are boundary months and may be partial. — means outside the tested window. Returns include modeled costs; color shows sign and magnitude.
Every instrument is tested on the same dates. The shared start can be later than requested when a holding has less history. Internal missing dates are rejected rather than filled.
Initial purchases occur at the first shared daily close. Fractional holdings are allowed. Positions drift between rebalances; trading costs reduce the capital available to buy the target allocation. The benchmark is bought and held with the same starting capital and entry-cost rate. Final positions are valued without a liquidation fee.
No deposits, withdrawals, taxes, dividends or cash interest are modeled. CAGR uses elapsed calendar time; volatility uses sample daily returns and 252 sessions per year. Monthly returns compound to the displayed cumulative return. Holding P&L less total costs reconciles to the portfolio’s change in value.
This tests today’s chosen holdings over available history. Selecting surviving stocks or choosing weights after seeing historical results introduces survivorship and hindsight bias. Available provider history is not a historical index-constituent database. These results do not establish future performance.
Enter stocks or ETFs to simulate portfolio returns using adjusted market history and historical economic vintages. Compare 1-, 6- and 12-month outlooks with chronological backtests and optional macro scenarios.
Experimental forecasts, with a historical benchmark beside every result. Advanced methods do not guarantee better predictions. Each run shows data dates, validation scores and uncertainty.
Rank equity factor portfolios over the next 1, 6 or 12 months. Compare CSM, DMA, tactical regression and economic-cycle forecasts, then inspect the historical relationships between styles.
Horizon-specific models rank cumulative future style-spread P&L. CSM fits pooled cross-sectional relationships; TRM fits each factor's recent technical history. ECM uses macro conditions. DMA retains its original four-model technical blend.
Composite score: 25% CSM + 25% DMA + 25% TRM + 25% ECM. Each model's ranks become a 0–100 score, then are averaged. Higher is stronger relative consensus; 100 means unanimous first place. This is not an expected return or confidence probability. The models share information, so their votes are not independent.
Working definitions: TRM = tactical regression modeling; ECM = economic cycle modeling, using market-based macro proxies. ECM is a provisional project definition, not an error-correction model.
Historical monthly return correlations for the selected portfolio panel and publication scenario. Blue indicates positive correlation; red indicates negative correlation. Each cell shows the coefficient.
Independent public-data tests of the summer style-rotation hypotheses. All experiments are retrospective.
Raw and hedged features have separate files. Calendar alignment, source identity, delayed feedback and future-data mutation are checked before scoring.
Full covariance weighting underperforms equal weighting in the primary audit. Removing exact opposite predictors repairs covariance rank but does not repair GK scores.
Era and publication-delay checks weaken the case for a stable recent edge. Wide intervals prevent a firm claim that timing declined after 2000.
Nested selection and the fixed macro blend do not establish improvements over their references. The portfolio comparison does not establish an advantage over a frozen allocation.
Headline Rank IC combines persistent style preferences with date-matched timing. Static IC is the all-month-pairing expectation; dynamic IC subtracts it. IC × 100 is a ranking score, not a return.
Window end dates fall in the selected period; each point uses the preceding 120 target months, including earlier dates where needed. Windows overlap and are descriptive. Static IC is recomputed within each window.
Centered technical ranks become gross-one style-spread allocations. The frozen reference uses 60 pre-evaluation allocation months, then holds fixed. Equal style holds +1/15 of every signed spread.
These studies have their own fixed samples. The panel control applies throughout; publication delay applies to selection and macro. Evaluation period and cost controls apply to timing and P&L.
The complete research narrative, experiment definitions, Python source and exported result tables. Downloads use the same authenticated snapshot as the dashboard.