This list of finance vocabulary is a sampling of some of the terms and abbreviations students can expect to hear during conversations at the various site visits to banks in Boston and NYC as part of the Certificate in Finance & Banking program. Get acquainted with the jargon and concepts to gain more from your experience, including the ability to ask better questions in order to make yourself stand out from the crowd. Be sure to access the College’s free readership program for the Wall Street Journal (WSJ) and New York Times (NYT) to connect with these terms in a real world context.
Asset: Resource with economic value that a corporation owns or controls with the expectation that it will provide a future benefit; Assets are reported on a company’s balance sheet and are bought or created to increase a firm’s value or benefit the firm’s operations.
- Asset Allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio’s assets according to an individual’s goals, risk tolerance, and investment horizon. The three main asset classes – equities, fixed-income, and cash and equivalents – have different levels of risk and return.
Book Building: Process by which an underwriter attempts to determine the price at which an initial public offering (IPO) will be offered. An underwriter, normally an investment bank, builds a book by inviting institutional investors (such as fund managers and others) to submit bids for the number of shares and the price(s) they would be willing to pay for them.
Book Value: Referring to an investment, it is the price paid for a security or debt investment. When a company sells stock, the selling price minus the book value is the capital gain or loss from the investment.
Broker: Individual or firm that acts as an intermediary between an investor and a securities exchange; Buy and sell financial instruments on the behalf of a client and charges a fee for doing so.
Bull and Bear Markets:
- A Bull Market is a market that is on the rise and where the economy is sound. (Tip: A bull charges “up” with horns.)
- A Bear Market exists in an economy that is receding, where most stocks are declining in value. (Tip: A bear charges “down” with paws.)
Buying Size: Occurs when a trader offers to buy a large volume of shares
- Buy-Side is the side of the financial market that buys and invests large portions of securities for the purpose of money or fund management; Includes investment managers, pension funds, and hedge funds.
- Sell-Side is the other side of the financial market, which deals with the creation, promotion, and selling of traded securities to the public; Includes investment banks, advisory firms, and corporations.
Continue reading “Students Prepare for Bank Visits with Jargon Cheat Sheet”
Tom Patton graduated from Holy Cross in 1986 studying economics and accounting while playing on the football team. Following HC, he attended law school at Georgetown. “After five great years of practice as a litigator at a D.C. law firm, I leapt naively into a general counsel job at an orthopedic device company in Memphis, TN” shares Patton. ” Five years after that, as the company was circling the drain, I was asked to be the Chief Executive Officer (CEO, a.k.a., the Boss.) Our team fixed the company and sold it, and just like that, I became a medical products “turn-around” specialist, meaning, I was the person to jump in and run companies when things were really bad. I did that three more times. In between CEO jobs, I worked with private equity firms that invest in healthcare companies. I also started a healthcare diagnostics company with two doctors as partners. We sold that start-up after six years of hard work to a multinational medical products company.” He goes on to add that he learned constantly which included good and bad decisions, good and bad hires, and good and bad investments. “Over time that accumulation of hard-earned experiences turned into what people my age call wisdom,” Patton closes.
Over the years as an alum, Patton supported the Ciocca Center programs by co-teaching during various business workshops such as the Executive Leadership Workshop and most recently Business Ethics & Principled Leadership. This fall he will be returning to campus in a new capacity as an adjunct professor to teach Entrepreneurship. Through this class, its readings, interactions, and experiences, “I hope to relay some of that wisdom and give you the chance to learn some of the entrepreneurial stuff I wish I knew before I was handed my Holy Cross degree” shares Patton. Students can expect to come away from this course with:
- an understanding of the component parts of a successful entrepreneurial enterprise.
- a new vocabulary and a new lens to see, understand, and critically analyze business techniques and entrepreneurial opportunities that surround you every day.
- entrepreneurial confidence to apply sometime in your career if or when those entrepreneurial opportunities arise.
- the tools to follow a rigorous process to maximize the likelihood that your entrepreneurial venture is successful.
- honed your writing, communication, and interpersonal skills.
- understanding that all business endeavors, whether for-, or not-for-profit, can be consistent with a purpose-driven life and the mission of being men and women for and with others.
“Holy Cross helped foster my passions as an entrepreneur” shares Nick Lazzaro ’23, “and helped me to learn how to take risks.” Nick was a long time participant in the Entrepreneurship & Innovation Program and heavily involved in HC Launch, the student entrepreneurs group. “Encouragement from professors and advisors at the College’s Ciocca Center for Business, Ethics, and Society allowed me to network out of my comfort zone” states Lazzaro, “and created a space for me to flourish in business. I learned that taking risks academically and professionally are crucial to success and the best way to accomplish your goals is to be your unique self.”
In 2022, Lazzaro won first place during the annual Shark Tank Competition for his pitch on Nick’s On-Site Auto Detailing business. The company not only details cars but we seek to help others via a scholarship fund for Millbury students, where the business has donated more than $1,500 to future college-bound entrepreneurs. He was also named one of Worcester Business Journal’s 40 Under 40 in 2022.
Max Hendrix ’23, Fenwick Scholar, recently presented on April 25, 2023 to discuss his work on Intricacies of Agency: Rational Choice, Behavioral Economics, and Our Normative Commitments, after a year long research project to explore the image of agency and rationality in economics through a philosophical lens.
He is a Finance & Banking Certificate graduate pursuing a double major in Philosophy and Economics. Following graduation, he plans to pursue a career that will give him the opportunity to combine the critical thinking, writing and communication skills that he has developed in the classroom as a liberal arts student along with his interests in working with markets, investment strategies, and financial institutions.
Congratulations to Max!
Sponsored by the Ciocca Center for Business, Ethics, and Society and the Office of Sustainability with faculty guidance from Professor Karen Teitel, 20 students from all four class years participated in the third offering of the Pothos Consulting Project this spring.
Pothos plants often symbolize determination, perseverance, wealth, and good fortune. It thrives under challenging circumstances, making the most of limited resources like light and water, and its heart-shaped leaves clean the air. It also improves its environment while ensuring its own growth and flourishing. Through the Pothos Project, students help Holy Cross and our local business community do the same, becoming more sustainable on their way to prosperity and good fortune.
Over the six week project, participants attended interactive sessions with HC alums and select businesses, learning about the consulting field and its distinctive recruitment process. As participants collaborated with an organization on a real-world consulting assignment that aimed to increase corporate responsibility, participants practiced some of the skills and tricks needed for the job. Alumni mentors provided guidance and support throughout the program.
Thank you to our Holy Cross alumni mentors:
- Cole Worthy ’88: Program Manager & Vice President, Haley & Aldrich
- Megan Skwirz ‘12: Consultant, Slalom Consulting
- Jessica Dodakian ’14: Associate, McKinsey & Company
- Patrick Czorniak ’11: Senior Manager, Deals Transformation, PwC
Thank you to our local businesses:
April 27, 2023
Congratulations Business Certificate Program Graduates!
After years of workshops, tutorials, internships, coursework, and job shadowing experiences (not to mention a pandemic!), we are proud to name you as a graduate of the Business Certificate Program offered by the Ciocca Center for Business, Ethics, and Society at the College of the Holy Cross.
As a graduate, you are among a select group of students who will be receiving a Certificate in Business Fundamentals, a Certificate in Entrepreneurship, and/or a Certificate in Finance & Banking.
While others were vacationing, you decided to immerse yourself in business, expose yourself to new concepts, build transferable skill sets, and network with successful alumni in the field. This dedication has made all the difference. Your liberal arts education from Holy Cross has equipped you with the skills to communicate effectively, problem solve, and think critically – the soft skills you can’t learn on the job. To complement this, your business certificate will be a differentiator in the job market and has provided you with competitive technical skills. Take this opportunity to appreciate all that you have accomplished. Continue reading “Annual Business Social Congratulates Business Certificate Graduates”
The 10th annual Shark Tank Competition was held on Sunday, April 16th in the Performing Arts Center, hosted by HC Launch through the Ciocca Center. Held in person for the first time since 2019, this year’s competition displayed a new generation of Holy Cross entrepreneurs. From photography, candlemaking, to tech solutions, there was a variety of creativity and problem solving involved.
Three well-seasoned business professionals volunteered their time to select this year’s winners. The judging panel included former Ciocca Center Director David Chu, Venture Forum Executive Director Zak Dutton, and Inmedix Co-Founder Tim Sciarrillo ’82, as teams competed for $9,000 in prize money. Along the way, each team was connected with a mentor who provided guidance and feedback. Thank you to our mentors Brendan Candon ’10, Rob Murner, Larry Naughton ’93, Bill Phelan ‘04, Nalani Ramos Ruiz ‘21, Kelly Shaw ‘09 and Eamon Troy ‘11. Continue reading “10th Annual Shark Tank Winner Announcement”
Last month at WorcLab, Worcester’s premier business incubator and coworking space, the city hosted the inaugural Student Entrepreneurial Ecosystem Summit (SEES) to bring the startup community together on Saturday, March 25. Organizations and local businesses set up tables to share their resources with budding student entrepreneurs. The event brought nearly 25 students together from various colleges in the Worcester area including Holy Cross, WPI, WSU, Clark, Assumption, and UMass. Students had the opportunity to learn directly from local business owners, pitch their businesses and explore resources. SEES provided an excellent platform for students to gain practical knowledge and insights from the successful entrepreneurs next door.
The event kicked off with food and networking on the 7th floor of the Printer’s Building on Portland Street in downtown Worcester. During the summit, students interacted with business owners from a diverse range of industries including biotech, gaming, and maker spaces. They learned about the challenges that these entrepreneurs faced when starting and growing their businesses, the strategies they used to overcome these obstacles and the many resources available to them in Worcester. Continue reading “Local Colleges Attend Inaugural Student Entrepreneurial Ecosystem Summit in Worcester”
My name is Kasamba Amiri ’24 and I am a junior at Holy Cross majoring in Sociology pursuing a Certificate in Business Fundamentals. While working towards my Certificate, I have completed a few workshops including Interview Prep, Global Supply Chain Management, and Marketing Communication, & Sales. I have obtained valuable skills and knowledge in these areas, including the Microsoft Excel Tutorial.
With a liberal arts education, we are taught to think about the people behind each facet of a larger functioning body, a skill that proves helpful in developing and maintaining relationships. My relationships with the faculty and staff on campus have helped me understand why I want to pursue a career in business. Working with and meeting alumni through the Ciocca Center has assisted me in networking with professionals as I explore my career options. I was able to connect with Maegan Moriatry ’20 and discuss both the industry and life as a Holy Cross post-graduate! The connections formed through the Ciocca Center have not only helped me prepare for a life in business but for a life as an adult.
My relationships with the faculty and staff on campus have helped me understand why I want to pursue a career in business.
Continue reading “Major in Sociology and Succeed in Business”
On March 22, 2023, the Women in Business Club hosted an alumna speaker, Fiona Boyle ’21. She shared her experience of being a female in the finance industry. Read more to hear takeaways from the audience, written by Olivia Evans ’23.
Fiona Boyle graduated from the College of the Holy Cross in the spring of 2021. She was an Economics major and Art History minor. Upon graduation, Fiona had to navigate the new world that COVID had created for society when it came to the search for a job. During her senior year at Holy Cross, she connected with an HC alumnus on LinkedIn. Later that year, the same alumnus posted a job opening on LinkedIn for a position at a start-up company in Fintech named Mirador. Fiona then reached back out to the alumnus, applied for the job, and later ended up getting an offer and accepting the job. Mirador is now a six-year-old company.
Fiona shared her day-to-day responsibilities at Mirador. Essentially, she creates financial reports for ultra-high-net-worth individuals; therefore, she is responsible for tracking portfolio performance data and building reports to help clients view and understand their assets. Fiona mentioned that Mirador has an excellent onboarding training program for new employees that many refer to as “Mirador University.”
Furthermore, Fiona wanted the audience of the presentation to leave with three main takeaways. Continue reading “WIB Hosts Fiona Boyle ’21 to Share Female Finance Experience”