On Friday, October 16th, the Market Update was performed by Co-President Spencer Thomas ’24, Jimmy Paugh ’26, and Valdemar Kofod-Olsen ’26. The S&P 500 was +2.1%, the Dow Jones +1.5%, and the +Nasdaq 2.7 %. Inflation, T-Mobile Metrics, mortgage rates, and the Birkenstock IPO were also covered.
Industrials Analyst Johnny Blazakis ‘25 gave an Industrial Sector Update. Overall, the Industrials Index lagged the overall Market during Q3 2023 but outperformed TTM for 12 months. The current portfolio share of Industrials is roughly 8%.
This meeting concluded with a T-Mobile Pitch conducted by TMT Analyst Hank Skatoff ’25, first-year Hasnat Aslam, and Consumer Spending Analyst Tim Jimenez ‘25. An overview of the Telecommunications Industry included global market trends, industry drivers, and an 8.5% year-to-date industry performance. The driving factors for purchasing T-Mobile revolve around the potential Sprint merger consequences, the upcoming acquisition of Mint Mobile & Ultra Brands, a commitment to sustainability, and other industry factors. The trades were executed on October 18th. The portfolio now holds 213 T-Mobile Shares at $140.876 per share.