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When Investment Professional Kent McCarthy Returned to Teach
When Kent McCarthy, a seasoned investment professional, returned to his alma mater, the University of Kansas, he initiated the Applied Portfolio Management (APM) program—a course designed for students to manage a live investment portfolio. Over the years, this program has built an impressive track record of success. With this book, you’ll learn how to apply the core concepts taught in the class—from identifying key business drivers to purchasing assets at the right value—to enhance your own investing abilities.
Editorial Reviews
From the Inside Flap
Since its inception in 1994, students in the Applied Portfolio Management program at the University of Kansas have achieved an annual average return exceeding 20%, far surpassing the NASDAQ’s 9% average over the same timeframe. This book explores how they accomplished these results and provides insights to improve your own portfolio performance.
In 1988, Kent McCarthy returned to the University of Kansas to teach, planting the foundation for the APM program—a unique course that immerses students in real-world investing by managing an actual portfolio.
With the support of Catherine Shenoy, APM’s Director for the past seven years, the program has consistently produced outstanding investment results and launched successful Wall Street careers. The class portfolio has historically outperformed the market in significant ways.
In Applied Portfolio Management, Shenoy and McCarthy share the lessons learned and explain how to incorporate the program’s methodologies into daily investing practices. Organized into three comprehensive sections, this guide covers crucial investing fundamentals, such as evaluating a business’s success drivers, buying assets at the optimal price, and cultivating a professional network.
Step by step, you’ll learn how to navigate today’s ever-changing market environment, where evolving conditions require constant strategy adjustments. The book also teaches you to read between the lines of press releases and corporate communications to understand what’s really happening inside a company. Important questions addressed include: How does the company generate revenue? Which metrics in financial reports reflect its progress toward goals? Who are the leaders, and what are their management styles?
Key Topics Covered
- How analyzing and interpreting information accurately can turn average returns into exceptional results
- Steps to build a “case” for companies in your portfolio, from creating pro forma models to setting final valuation targets
- Understanding the impact of global trends, local biases, and corporate governance on investments
- And much more
Strong investment habits are developed through hands-on experience and learning from a diverse network of perspectives. These principles define a successful investor and are central to the APM program at the University of Kansas.
For those seeking to elevate their investment performance, Applied Portfolio Management provides the insights and strategies needed to succeed. Start reading today and apply its lessons to your portfolio.
From the Back Cover
Praise for Applied Portfolio Management
“Speaking to the APM class is always an inspiring experience. Investors now have the chance to benefit from the enthusiasm and exceptional returns the students achieve. Their global perspective on investing is remarkable, and this book captures that unique approach.”
—Victor Almeida, President and CEO, Interceramic
“Shenoy and McCarthy translate real-world investing lessons into academic principles, revealing the strategies behind over twenty years of outstanding performance.”
—John Charnes, author of Financial Modeling with Crystal Ball and Excel
“As a former student with twelve years in investment research and management, I still apply the APM principles daily. They can help anyone outperform the market.”
—Scott F. Jones, CFA, Managing Member, Prairie Wind Capital, LLC
“Presenting to the APM class is challenging because the students’ analysis is thorough and precise. The experience mirrors presenting to any professional investor conference.”
—John B. Dicus, CEO, Capitol Federal Financial
“McCarthy and Shenoy have created a one-of-a-kind course at Kansas, offering students a real-world investment management experience. The class demonstrates that intelligent investing requires research, openness to new ideas, and a clear strategy.”
—Robert Kaplan, University of Kansas alumnus
About the Author
Catherine Shenoy, PhD, MBA, serves as Director of the Applied Portfolio Management program at the University of Kansas School of Business. She has experience as a Foreign Service Officer for the U.S. State Department in Washington, DC, and Tunis, Tunisia. Since 1993, Shenoy has taught accounting, finance, and statistics at KU, focusing her research on corporate governance, financial policies, and AI applications in portfolio analysis.
Kent C. McCarthy, MBA, is President and Chief Investment Officer of Jayhawk Capital Management. After retiring from Goldman Sachs in 1994, he returned to Kansas to establish the APM class, teaching full-time until founding Jayhawk Capital Management in 1995. He continues as an Executive Lecturer in the APM program, managing hedge funds and private equity funds with a focus on Chinese equities.
Product Details
- Publisher: Wiley; 1st edition (April 4, 2008)
- Language: English
