Penn State Asset Management Group

We hope everyone had a great first week and is staying safe and healthy! The Asset Management Group is extremely excited for our first PSDA general body meeting next Monday, September 7th from 6:30-7:30 PM via zoom. Sign up through the link in our bio to be added to the listserv and receive updates on meetings and professional events. Looking forward to a great semester and as always, WIN THE DAY!

Come visit us at table 599 at the Involvement Fair on the HUB Lawn to learn more about AMG! Our President, Jake, is looking forward to an awesome semester with everyone. Win the day!!

We are so proud of our analysts who represented AMG on our 3rd Annual Wall Street Trip. Thank you .stanley and for this incredible opportunity!

Make sure to check out this article in which our President, John Sp****la, perfectly describes our mission and purpose here at Penn State. John's mindset of "Winning The Day" helps him conquer each day and is a mentality he hopes to instill in every member of this club.

Penn State Asset Management Group Will Help You 'Win The Day' "If you win every day for long enough, you'll reach wherever you want to go in life."

We hope to see you all at our 2nd General Body Meeting tonight! Our exec board is excited to give you insight on their experiences with interviews, internships and job searches. Reminder that it’s never too late to join and AMG is open to students of all backgrounds and majors, so bring a friend!

Interested in working on Wall Street or learning more about financial markets? Come out to our 2nd General Body Meeting and any of our sector meetings this week! Follow us on instagram for more weekly updates.

For those of you who were unable to attend last night's meeting, we spoke about what it means to be in PSAMG, and what we can provide for your collegiate and professional careers. Each sector director also spoke about the curriculum they have planned out for the semester and our new members got the opportunity to sign up for the sector/s they are interested in.

The sectors and sector times are as follows;

Fixed Income & Currencies
Mondays at 6:00pm in 004 Huck Life Sciences Building

Commodities & Derivatives
Mondays at 7pm in 102 Chemistry Building

Equity Research
Wednesdays at 6pm in 004 Huck Life Sciences Building

If you are interested in signing up for one or more of these sectors, please respond to this with, "Name, Year, PSU email, phone number", and your sector of interest.

We are looking forward to a great semester and as always, please reach out with any questions!

Win the day!

https://www.facebook.com/173125526067246/posts/1942131855833262/

New Evidence of Hacked Supermicro Hardware Found in U.S. Telecom Discovery shows China continues to sabotage critical technology components bound for America

"President Trump upped the stakes for Beijing Monday, first by saying that the new 10% tariffs on $200 billion in Chinese goods would take effect in only one week’s time. Then he reiterated a threat to hit another $267 billion of Chinese imports with tariffs if Beijing retaliates. Combined with goods already hit with punitive levies, the total would exceed the $505 billion in Chinese goods the U.S. imported last year.

Because China imports far fewer goods from the U.S.—just under $130 billion last year—Beijing is running out of products to penalize.

“The U.S. is in the driver’s seat,” a Chinese official said."

An ally of Mr. Liu’s vented Tuesday about the pressure from Washington. “Negotiations can’t be done with this kind of tactic,” Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at a World Economic Forum meeting in the coastal city of Tianjin.

“It may work with some small country,” he said. “It doesn’t work with China.” The new U.S. tariffs, he said, have “poisoned the atmosphere for negotiations.”

The $60 billion worth of U.S. goods China said last month it would hit with retaliatory tariffs of 5% to 25% include farm products, machinery and chemicals. The levies, if implemented, would come on top of the tariffs on $50 billion in American goods that are already in force, bringing the total amount of U.S. products subject to Chinese tariffs to $110 billion—or 85% of U.S. goods entering China last year, according to U.S. statistics.

“Contrary to views in Washington, China can—and will—dig its heels in and we are not optimistic about the prospect for a resolution in the short term,” William Zarit, a business consultant and chairman of the chamber, said Tuesday."

China Retaliates With Tariffs on $60 Billion of U.S. Goods China announced new tariffs on $60 billion of U.S. goods, following up on retaliation pledges after the Trump administration’s move to impose levies on $200 billion of Chinese imports.

How Saudi's Stake in Tesla Could Help Musk Go Private Saudi Arabia’s investment in Tesla Inc. is turning out to be more significant than market-watchers knew. As well as being a signal of intent of the kingdom’s determination to diversify into technology, the almost 5 percent stake is also of huge importance to Elon Musk’s ambition to take the el...

"Such a combination of falling share prices and fast-rising earnings estimates is rarely seen outside of crises, because typically the prospect of higher profits attracts investors. The last two times the forward PE ratio tumbled this far, this fast, were the 2010 Greek crisis and the aftermath of the Lehman Brothers failure in 2008; other notable occasions include the dot-com bust, the 1998 collapse of hedge fund Long-Term Capital Management and the 1987 stock-market crash."

Next Up: The Forgotten Earnings Season Only once before have U.S. earnings expectations risen so far, or so fast, as they have this year. Yet, investors couldn’t care less as shares are down. The result is that Wall Street’s favorite valuation measure has fallen at a speed usually only seen in a crisis.

https://www.cnbc.com/2018/03/21/watch-fed-chairman-jerome-powell-give-his-first-news-conference-live.html

[The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.]

"Jerome Powell will give his first news conference as chairman of the Federal Reserve on Wednesday. He took the top position at the central bank in February."

Watch Fed Chairman Jerome Powell give his first news conference live Federal Reserve Chairman Jerome Powell will give his first press conference Wednesday after taking the top position at the central bank in February.