This list of Wall Street 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 NYC and Boston 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.
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.
My name is Maeley Nakamura and I am a freshman at the College of the Holy Cross. I plan to declare economics as my major, and I am also pursuing Certificates in Business Fundamentals and Entrepreneurship through the Ciocca Center for Business, Ethics, and Society.
The Ciocca Center offers students opportunities to successfully incorporate a business education into any Holy Cross major through workshops, events, and clubs. For me, the Ciocca Center presents an incredible opportunity to combine critical business skills and experience, with Holy Cross’ well-rounded liberal arts education, which will help me ethically contribute to society and focus on more than just the bottom line.
For me, the Ciocca Center presents an incredible opportunity to combine critical business skills and experience, with Holy Cross’ well-rounded liberal arts education, that will help me ethically contribute to society and focus on more than just the bottom line.
Caroline Quinn ’22 is pursuing the Certificate in Business Fundamentals and is checking off the internship requirement this summer. Follow along as she reflects on her experience, lessons learned, and how her liberal arts education and Holy Cross network are helping her along the way.
Summer Series: Part One
I’m in the midst of my ten-week-long internship as a Sales Strategist with PepsiCo, and I’m happy to say that my experience thus far has been extremely captivating and enriching despite it being 100% virtual. For starters, I’m working on the Allied Brands Team which focuses on PepsiCo’s partners (like Ocean Spray and Voss Water) who independently produce/manufacture their products and then distribute/sell through PepsiCo. This is a symbiotic relationship with this arrangement because the Allied Brands benefit from PepsiCo’s nationwide presence and reach, and PepsiCo benefits from selling products that it doesn’t produce or typically sell. My particular project is oriented around an Allied Brand called Bundaberg Brewed Drinks. Before PepsiCo partnered with Bundaberg in 2017, it had never sold a craft soda. But now, PepsiCo is highly competitive in that market because of this partnership. Bundaberg’s top-selling product is ginger beer which is a premium, non-alcoholic, craft soda that is commonly used as a mixer. Regarding my project, I’ve been tasked with creating a feasible strategy to grow Bundaberg sales by 4X in the US. While this is a tall order, I am confident that I am putting together a really great pitch that I’ll present at the end of my internship. Much of my confidence can be attributed to the Ciocca Center and Holy Cross as a whole. Continue reading “Summer Internship Series: Reflecting on Certificate Experience”
Jack Browne ‘22 is an international studies major with a concentration in Latin American Studies who is also pursuing a Certificate in Business Fundamentals through the Ciocca Center for Business, Ethics, and Society. Jack spent the past year working to complete the requirements over the course of the ongoing pandemic. The virtual workshops included alumni presenters from across the country to present industry-specific sessions and attend networking events. “One aspect of the business workshops that have been particularly helpful to my development,” starts Jack, “is how alumni are brought in to speak on their fields of expertise and their professional journey. It was very reassuring for me to connect with recent graduates during the Marketing Communications & Sales workshop who now work at PepsiCo and hear about these individuals having success in the world of business without having gone on to business school.”
“The concerted integration of Holy Cross alumni into the Business Certificate Program reinforces the reality that graduates of the school care about current Holy Cross students.” – Jack Browne ’22
The Business Certificate Programs provided by the Ciocca Center offer excellent opportunities for students to network with alumni and help kickstart their careers. With the help of hundreds of alumni across the various Business Certificate Programs, students can see that the Holy Cross liberal arts education supports a variety of career interests. Jack goes on to say, “The workshops provide students with a blueprint to learn more about industries, interact with alumni, and develop skills in professionalism that I have used firsthand to navigate interviews and internship applications.”
Jack has completed nearly all of the Certificate requirements this academic year, many of which were held virtually. He hopes to apply the knowledge gained through these experiences during an upcoming summer internship. Good luck!
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Many thanks to Conor Hatton ’22 , marketing assistant for the Ciocca Center, for interviewing and writing this student’s experience.
As a part of the Business Certificate Programs, all students must first explore an introductory overview of business through the Fullbridge Professional Edge Program at Holy Cross. “My favorite part of Fullbridge was being in a professional environment because it helped me to learn how to communicate effectively and professionally. I think my experience with Fullbridge and the other industry-specific workshops will help me to be prepared for my upcoming summer internship. I gained experience in a professional environment, and learned important skills such as Excel, data analysis, and communication.”
As a rising senior, Caroline has successfully completed all of the required workshops, her favorite being Interview Prep because it “was the most impactful and I learned what to expect in professional interviews, and gave me advice on how to best present myself as a compelling candidate.”
Caroline is working hard to check off the certificate requirements, including the required internship, and is excited to apply what she has learned so far during her upcoming summer internship as an Incoming Credit and Wholesale Banking Summer Analyst at Bank of America. Congratulations and good luck!
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Many thanks to Conor Hatton ’22 , marketing assistant for the Ciocca Center, for interviewing and writing this student’s experience.
In August 2020 I participated in the Fulbridge Professional Edge Program. This four-day-long intensive virtual program is designed to help prepare Holy Cross students for the business world by connecting the liberal arts to the working world. Speaking from my experience, Fullbridge did that and so much more. I was among the first group of students to participate in this program remotely. I logged onto the platform on the first day of the program, and I was surprised by how hands-on and engaging the Fullbridge team was. I could tell right off the bat that the coaches were so excited to be there, and that energy was contagious! Continue reading “Caroline Quinn ’22 Shares Virtual Fullbridge Program Experience”
What does it take to launch a startup and keep it running? Students had two opportunities during summer 2020 to explore the step-by-step process of starting a business and the strength of businesses that develop strategies and innovate. “Our Entrepreneurship workshop starts where every business should start: with building you as a leader and cultivating your skillset,” shares Ja-Naé Duane, entrepreneur-in-residence at Holy Cross. “From there, we dive into the factors that impact starting a business and showcase stories of businesses to illustrate that there is no one way to start or grow a business.”
Students, often first and second years, participate in the Fullbridge Professional Edge Program at Holy Cross to immerse themselves in business, finance, marketing, and innovation — the skills employers seek. Starting early on in their college career gives them the opportunity to build a resume that supports their career interests, but also build a network of professionals and successful alumni in that industry.
When COVID-19 disrupted all in-person meetings, the team at Fullbridge and Ciocca Center got to work brainstorming how to best translate the six-day program into a virtual format. The experiential components of an immersive workweek, complete with 9am – 5pm with an hour lunch break, had to be reimagined at the very same time the world was figuring out how to work remotely. Continue reading “The Impact of Fullbridge…”
Who/What inspired you to enter the business world? Both of my parents worked in business, so I definitely gravitated to what I was familiar with coming out of college. Within the business world, I chose to enter into the financial services industry because it complemented my strong interest in economics. Continue reading “Alumna Spotlight: Seton McFarland ’16”