Global Macroeconomic

The Global Macro team is devoted to studying, analyzing, and dissecting global geopolitical events from an investor’s point of view. The purpose of this team is to generate top-down investment theses, and create trading strategies around those concepts. While no prior experience is necessary, we look for students who have a genuine interest in investing strategies and geopolitical events.

As a result, the Global Macro team has a broad mandate, and members can pitch stocks across a variety of industries. The team will feature weekly educational components fitting for both new and experienced investors. Members will also have the opportunity to work on a stock pitch each semester and receive feedback from the Portfolio Managers.

Healthcare

The Healthcare team looks at a wide range of businesses involved in the provision of healthcare, ranging from biopharma companies to medical device companies and medical service providers. With new scientific discoveries constantly being made and regulations evolving, the healthcare industry is one where investors who understand the industry have the potential to make outsized returns. The Healthcare team holds weekly meetings, where we will analyze recent trends in the healthcare space and look at past healthcare pitches from successful investors. Members will also work on a stock pitch each semester to hone their investing skills. 

Industrials

The Industrials team takes a generalist, industry agnostic approach to providing team members the best possible learning experience. The goal of the team is to develop a deep understanding of both qualitative and quantitative business fundamentals among all members. Emphasis is placed on learning about the complete capital structure of firms. Understanding both operational and financial complexity are important when operating, advising, and investing in a dynamic market environment. On the Industrials team, members are expected to complete one stock pitch each semester, working in a group of 2-3 individuals. Weekly meetings feature an education component and market discussion, as well as feedback on members’ progress in building a pitch.

Quantitative Investment Strategies (QIS)

The Quantitative Investment Strategies team aims to develop quantitatively- and/or systematically-driven trading strategies with a focus on education. Our members include experienced investors, many with experience in quantitative roles at hedge funds and market makers. On a day-to-day basis, we develop projects and discuss academic literature and industry white papers on finance and statistics / machine learning. Our projects place emphasis on signal research and portfolio optimization, while staying weary of practical issues in trading execution.

Real Estate

The real estate group focuses on education and investment pitches, giving members the opportunity to both learn about the industry and practice applying investment principles. Members can expect to spend time learning about the basics of real estate valuation, industry trends, macroeconomic considerations, and analysis ranging from property-level to large-cap REITs. Responsibilities will include participation and presentation of pitches, as well as contribution to group discussions in meetings.

Special Situations Group (SSG)

The Special Situations Group (SSG) within WITG seeks to explore investment cases that arise from nuanced financial concepts often misunderstood by the markets, and thus involve large disconnects between market and intrinsic values of securities. Examples of SSG themes include corporate spinoffs, mergers and acquisitions, and bankruptcies. 

Many well-known hedge funds globally operate some type of "special situation" strategy, and throughout the semester we will explore this style of investing. During weekly discussions we will cover tenets of value investing, the fundamentals of corporate credit versus equity securities, derivative instruments and how they are most often used, and case studies of past and current special situations. 

Tactical Opportunities

The WITG Tactical Opportunities investment team was inspired by Blackstone’s Tactical Opportunities Group. We seek to explore global investments across various sectors in alternative and underlooked segments of the capital structure. Our mandate focuses on, but is not limited to, common stock, preferred equity, and distressed credit investments across public and private markets.

Members can expect to work on investment ideas during the semester and receive formal training on advanced modeling techniques, capital structure analysis, and investing fundamentals — with members ultimately competing in annual investment competitions. Our mission is to create a lasting and passionate community of the best-in-class investors at Wharton prepared for careers at the top buy side and advisory firms.

Technology, Media, Telecom (TMT)

The Technology, Media, Telecom (TMT) team looks at a variety of companies in TMT verticals ranging from FinTech and e-commerce to cybersecurity and network infrastructure. Our broad coverage offers exciting opportunities to look at emerging technologies that will change the course of business in almost every traditional industry. This includes buzzword-type companies pioneering P2P lending as well as under-the-radar companies that build and maintain the data storage and networking capabilities enabling every tech interaction.

On the TMT team, members are expected to complete one stock pitch each semester, working individually and in small groups. In our weekly meetings, we will deep dive into different TMT verticals, discuss relevant market developments, and give feedback on pitch progress. Senior members of the team have diverse academic and internship backgrounds across various tech and finance industries, and are excited to work with others in a collaborative environment.