FMA Magazine 2021 - 2023
FMA Bi-Annual Magazine. Highlighting programs, training, and engagements of Auburn University Financial Management Association Honors Society and Auburn Student Investment Fund.
FMA Bi-Annual Magazine. Highlighting programs, training, and engagements of Auburn University Financial Management Association Honors Society and Auburn Student Investment Fund.
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<strong>2021</strong> Investment Rationale<br />
We also sold out of nine securities entirely over the course of the year. Gilead had been the<br />
worst performer in our portfolio due to lower than expected demand in sales of remdesivir as a<br />
treatment for COVID-19.<br />
Boeing was the only other company we sold out of at a loss. Boeing was part of a difficult<br />
environment facing commercial aerospace at the onset of COVID, and the stock continued to<br />
slide further as investors were concerned that the virus could lead to changed consumer<br />
behavior in the airline industry. In addition, regulatory concern dampened the ramp up of the<br />
company's 737 MAX after multiple operational mishaps.<br />
Illinois Tool Works was a company we sold out of in the fall of <strong>2021</strong>. The stock had been<br />
trending down because of ongoing supply chain issues, and we did not believe those issues<br />
would be resolved in the near future.<br />
<strong>2021</strong> BUYS <strong>2021</strong> SELLS<br />
Unrealized Return:<br />
48.77%<br />
17.64%<br />
Realized Return (Loss):<br />
20.6%<br />
129.4%<br />
48.8%<br />
(10.2)%<br />
(12.5)%<br />
37.9%<br />
36.5%<br />
3.8%<br />
23.4%<br />
25.9%<br />
Note: Unrealized return calculated from purchase date to 12/31/<strong>2021</strong><br />
72 <strong>FMA</strong> <strong>2021</strong>-<strong>2023</strong> MAGAZINE<br />
<strong>2021</strong> Performance Summary
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