How to overcome “The Confidence Gap,” by Emily Valentine ’16

Over the summer I read an article in The Atlantic that concerned the purpose of this organization. “The Confidence Gap” by Katty Kay and Claire Shapman talked about what really holds many women back from reaching the top echelons of their respective career paths. Through all their interviews and conversations with accomplished businesswomen, Kay and Shapman realized what all these women had in common: self-doubt. Many women who had reached a high level of success claimed that luck accounted for some part of it. On the other hand, men were more likely to point to personal strengths and hard work as the catalysts of their achievements. The article says how many recent studies have shown that men display more confidence than women and this in turn could play just as big a role as competence when it comes to moving up the ranks of a company. Even when their performance and ability is the same, men believe they are more qualified while women tend to think they are less qualified.

What caught my interest in the article were female traits that Kay and Shapman said named as factors of this lack of confidence. Whether it’s our tendency to take the blame for when things go wrong or our perfectionism, it seems like as women we are constantly making the path to success more difficult for ourselves. From research it appears that this lack of confidence starts way before successful careers are even a concern: elementary school classrooms. At this age it is easier for young girls to behave and obey their teachers than it is for young boys. As a result of this, they get used to approval and praise and want to continue receiving it. This in turn makes girls more risk-averse. Unfortunately though, taking risks, making mistakes and persistence are “essential to confidence-building”. As girls grow older, research shows that they continue to lose self-esteem while boys tend to gain it.

While a lot of this seems like a gloomy outlook on women’s potential in the workplace and in life, the authors conclude the article by pointing out there are ways for women to improve and build their confidence. The advice they give is to “stop thinking so much and just act”. While of course this seems easier said than done, understanding what could be holding women back enables us to fight against these obstacles. Instead of overthinking and second guessing ourselves, we can accomplish more by taking action.

The full article can be found here: http://www.theatlantic.com/features/archive/2014/04/the-confidence-gap/359815/

- Click here to check out Emily’s LinkedIn

Morgan Stanley Inside Access Day for Juniors: Application Deadline September 28th

JOIN US FOR MORGAN STANLEY’S INSIDE ACCESS DAY.
At Morgan Stanley, solving complex challenges and fueling economic growth across continents is what we do. We offer you a structured path to success, providing you with the training, mobility and responsibility to make a real difference. Inside Access Day is for current undergraduate juniors with a 3.5 GPA or higher who are true leaders on campus.

Our one day workshop will provide you with an opportunity to explore the financial services industry and become familiar with the Firm’s business and culture. Participants will gain insight into the recruiting process, learn resume tips and interviewing techniques, and network with leaders across the Firm.

Participation is limited. Students selected for Inside Access Day will have domestic travel expenses paid to and from our New York City office.

The deadline to apply is Sunday, September 28th at 11:59PM.

Click Here to Apply

For questions, contact elizabeth.clark@morganstanley.com.

DATE
Friday, October 24, 2014
TIME
8:30 a.m. – 5:00 p.m.
VENUE
Morgan Stanley Headquarters
1585 Broadway
New York, NY 10036

DEADLINE TO APPLY
Sunday, September 28, 2014

PARTCIPATING DIVISIONS
Bank Resource Management
Firm Strategy & Execution
Fixed Income & Commodities
Global Capital Markets
Institutional Equity
Investment Banking
Investment Management
Public Finance
Research
Strats and Modeling
Wealth Management

Bloomberg Businessweek Article: Rise of Female Angel Investors Fuels Women-Run Companies

In 2009, when Amy Norman and Stella Ma started pitching investors on their San Francisco-based startup, Little Passports, both had young children and Norman was pregnant. The overwhelming majority of the investors they met with were men who wanted to know “if we were running this as a ‘lifestyle company,’” Ma recalls. Investors passed and word got around Silicon Valley that “there’s no way women like this could grow a company fast enough” to satisfy venture capitalists, Norman says.

Yet grow it did, to $5 million in revenue five years later. Norman and Ma eventually raised nearly $2 million for their education business, which sells monthly subscription packages to help kids learn about geography. Much of the funding came from a female investor group that saw in the idea potential that eluded many men.

With ‘brogrammer’ culture spreading through the male-dominated world of tech, Little Passports’ experience reflects a contrasting trend: Women are running an increasing number of America’s startups, and they make up a growing share of the angel investors funding them. Today women make up about 20 percent of both the entrepreneurs and investors involved in angel deals, up from single-digits a decade ago, according to the University of New Hampshire’s Center for Venture Research(PDF).

- Read the full article here

Kirsten Halvorson ’15 reflects on her summer internship at David B. Shaw Private Portfolio and the importance of the Colgate alumni network

This summer I interned as a healthcare research analyst at David B. Shaw Private Portfolio. The start-up hedge fund is located downtown in the financial district in San Francisco, California. Currently, the portfolio contains pharmaceutical, biotechnology and medical device companies but is looking to expand into other industries, potentially technology. David Shaw, my portfolio manager and supervisor for the summer, graduated from Colgate in 1998 with a degree in molecular biology and spent 15 years on both sides of Wall Street. He taught me everything I know about investing, valuation, financial modeling and the healthcare industry. Together, we explored many different healthcare companies as potential core positions for the portfolio.

After being absent from the fall banking recruiting season while studying abroad in Geneva, Switzerland, I turned to the always-supportive Colgate network in search of a summer internship in finance research. I found the opportunity David posted on a Colgate resource. I was immediately intrigued by the thought of working directly under a Colgate alumni and performing investment research in the healthcare industry. Although I am not a science major, I am interested in the changing healthcare world. After multiple phone interviews, performing my first stock analysis and input information into a DCF, David flew to Hamilton, NY during Entrepreneurs weekend for my final interview. He offered me the internship opportunity the following day! I was very excited to move out to San Francisco for the summer and dive into pharmaceutical, biotech and medical device companies. Before beginning my internship, I read value investing guru, Seth Klarman’s book, Margin of Safety and Howard Marks’ Dare to Be Great.

During the summer, I established a process of analyzing companies from fundamental research to building financial models in order to discover a potential core position for the portfolio. When presented with a ticker to analyze I began by annotating the company’s stock chart, developing a roadmap of upcoming events that could impact the stock price and evaluating their SEC filings (10K, 10Q, 8-K, proxy reports, press releases, and presentations). I researched the company’s products by following FDA Advisory Committee meeting materials and looked at the products’ intellectual property coverage in the FDA Orange Book. Based on the company’s filings, I input relevant information into a DCF model to determine an initial estimate of what is discounted into the current stock price. I then built financial models to analyze and forecast revenue, incorporating prescription volume from Symphony Health and pricing information from management commentary. Next, I developed a base conservative case of the stock price using financial modeling and outlining assumptions. I developed and iterated the upside and downside (bullish and bearish) cases based on more aggressive and negative assumptions. I further analyzed the key business drivers of value during the company’s 2Q14 earnings reports and tweaked the initial DCF scenarios. I evaluated required versus sufficient circumstances for the stock price to have an upside and for the stock price to have a margin of safety, necessary when investing. During my research process I also decomposed the valuation analysis in a proxy filing and compared it to a dramatic change in the stock price after the company announced an M&A deal. Finally, to conclude my internship I summarized all my findings on one company, Horizon Pharmaceuticals, developed an Initiation Report based on solid fundamental research and recommended an investment strategy.

Dave guided me through the process of learning how to analyze, value a company’s stock and perform diligent research on the company and industry. He helped me along the way but also let me face and overcome challenges and obstacles. We discussed the two seminal value investing books I read in preparation for my internship. He taught me how to input data into a DCF model, explained mathematical valuation and guided me through building financial models. We frequently discussed how to analyze the value of a company to determine the correct investment strategy based on forecasts in the financial models.

During my time in San Francisco I took advantage of the huge and very supportive Colgate alumni network in the Bay Area. I met with almost twenty Colgate alumni who work in finance to understand the wide breath of career opportunities. All of the alumni I met were very willing to offer extremely helpful advice and insight into the finance world. Not only did I discover many different jobs and career paths that I did not know existed but I also formed a much better idea of what I am interested in pursuing after graduating from Colgate.

I have never learned as much about finance, the stock market, my interests and my future career path as I did during these 12 weeks and I look forward to continue improving my new skills in the workplace.

- Click here to view Kirsten’s LinkedIn 

Miriam Charry ’16 explores the beauty industry through social media internship at Map My Beauty

This summer, after coming across an amazing social media internship advertisement for a beauty startup online, I learned how rewarding taking chances could really be.

I was hesitant at first, applying through an online source with not much information to go off of, but I was immediately contacted for an interview, where I was offered the internship. My previous experience in social media for Colgate Athletics and my sorority proved to be very helpful, and although I did not know a ton about social media strategy going into this internship, I am learning so much and cannot imagine myself anywhere else.

The company that I am working for this summer is called Map My Beauty. It is a small beauty startup based in DUMBO, Brooklyn with seven current employees. Map My Beauty is a patent-pending, cross-platform beauty application that uses face sensing technology and scientific beauty analysis to teach women how to apply makeup based on their unique features. Our CEO, with beauty experience from Conde Nast and Hearst Digital, has been working with leading facial sensing engineers to develop the application and perfect the customized “how-to” component, which is unique to many current beauty apps. My title within the company is the Social Media Coordinator. I compile images and content to post daily to all of our social media outlets, and I use social media management tools such as Hootsuite and Iconosquare to monitor our growth and engagement every week.

Although researching and posting multiple times a day can be time consuming, beauty and health research is also very entertaining and fun! I’m learning a lot about the beauty industry, and more about social media and engagement strategies. Plus, it has been awesome to be “Tweeted” at and have my Instagram pictures “liked” by brands like L’Oreal Paris, Covergirl, and Estee Lauder.

I am also learning the importance of maximizing the efficiency of face-time. Since the company has no funding being in it’s early stages still, there are only four of us meeting weekly in the one-room office. Therefore, much of our time is spent on Google Hangouts, email, texting, and phone calls when we can’t all commit to commuting costs or office time due to other jobs.

Working in a startup environment has taught me many things. Being around such open, experienced, and hard-working women, I have received so much valuable advice from my co-workers about things like finding work after college, adjusting to life in a big city, and the importance of networking and utilizing connections, as such a young company.

I would advise others looking for internships to not be afraid to take chances! If I hadn’t reached out to this then-random posting, I wouldn’t have ended up with such an amazing internship and made the incredible connections that I have made this summer.

Lastly, if you are looking for summer beauty and health tips and inspiration, follow us @mapmybeauty on Instagram, Twitter, Facebook, Pinterest, Google+ and LinkedIn, and look out for the app launching soon! 

Spring Immersion Trip Reflections: Miriam Charry ’16

Here’s a little recap of Miriam’s awesome experience on the immersion trip and how she has been using her alumnae network for her internship search!
At the beginning of March, a group of 12 CWIB members travelled to NYC for an Immersion trip. During this trip, we participated in three site visits in three different industries, some alumnae-led workshops, and a networking reception. Although this was the second CWIB Immersion trip I had attended, I still learned so much, and still reflect on it although my internship search is wrapping up.
I am personally interested in the marketing/advertising aspects of a company. One of the site visits that we did was to NYDJ Apparel, where Kate Foster-Lengyel ’99 is the VP of Marketing and Ecommerce. I had an amazing time job shadowing Kate in January through the Day in the Life program through Career Services, so when Kate agreed to host the group for a site visit, I was so excited. She explained to all of us what her role within the company is, and a little about fashion marketing and their specific goals as a company. Working on marketing activities for a fashion company would be a dream job for me, so when I applied to a couple internships in fashion marketing, I reached out to Kate to see if she had any advice or any possible connections within the companies that I could chat with further to learn more about the positions. Kate was extremely helpful and ultimately helped me in scoring a couple interviews with awesome fashion companies, truly showing me how helpful and willing to help alumnae can be when you reach out.
On the last day of our Immersion trip, we participated in a networking reception at the Roger Smith Hotel with four alumnae in different industries. I met Kelsey Hill ’04, another incredible woman who founded and owns her own marketing startup, kelsykate. After some great conversation at the reception, Kelsy suggested I email her later on to chat about marketing internships for the summer. Kelsy has given me some great advice throughout this process, and has done her best to help me in any way that she could, which, through the stress of the internship process, has been such a blessing.
The trip last month was a complete success thanks to the wonderful and helpful alumnae who volunteered to participate and spread their knowledge. Above all, looking back on the trip, I learned that the Colgate connection is always so strong, and alumnae in all industries are always willing to lend a helping hand to students, as long as students are willing to put themselves out there and ask for it. Based on the experience that I’ve had, I hope that all members will be able to participate in upcoming trips and take advantage of this network, utilizing our incredible resources and opening up new doors to as many new experiences as possible.
-Miriam Charry ’16