The American Module of the 2015 Tsinghua MBA Survey of Global Capital Markets concluded with a heated case discussion of The Children’s Investment Fund, 2005, at Harvard University. The Module was held in New York and Boston this year from October 1 to October 7. Under the leadership of Professor Hoan Soo Lee of the Finance Department, 42 Tsinghua SEM students visited Bloomberg Headquarters, Apollo Global Management LLC, Sotheby's International Realty and Broad Institute, engaging in discussions with senior managers. The Module also included four exclusive lectures at MIT, Harvard Business School, the Museum of American Finance and the United States Military Academy at West Point as well as an in-depth visit to Columbia University and the Metropolitan Museum of Art.
The Module started with the visit to Bloomberg Headquarters on the afternoon of October 1. In the famous U-shaped building, students experienced Bloomberg’s unique work environment of “openness and transparency,” learned about Bloomberg’s development, and listened to a detailed introduction of its application system. Through an interactive session, students gained a fuller understanding of the corporate culture cultivated by the biggest financial news company in the world, its development path, and frontier theories on finance innovation and capital markets for companies in a variety of industries.
Students are listening to the lecture at Bloomberg Headquarters
There were two compelling lectures in New York. One was “The Role of Capital Markets” at the Museum of American Finance. The Museum’s senior education director explained to students, from a historical perspective, the internal legal context as well as the exogenous conditions of an efficient capital market. After the lecture, students toured both the Museum itself and Wall Street, affording an appreciation of the sophistication behind the world’s economic engine.
Students are having lecture at Museum of American Finance
Group photo taken at the Museum after the lecture
The other lecture, by Professor Sean Hannah (Colonel), Director of the Leadership and Management Department at West Point, was about leadership. Professor Hannah, drawing on the ideas of leadership courses at West Point, illustrated the definition and cultivation of leadership from the perspective of military management. He also made a specific theoretical and practical analysis based on some of his decision-making leadership in the Iraq War. After the lecture, students visited the legendary beautiful campus and learned in detail about its history and the stories behind some historical relics on campus.
Lecture held at West Point
Group photo on West Point Campus
In New York, students had the opportunity to visit Columbia University, one of the oldest universities in America. The group was impressed by the profound academic atmosphere and cultural heritage. They also benefitted greatly from an in-depth visit to the Department of Economics, Law School and East Asian Library at the university.
Group photo at Columbia University
During the three days in Boston, students visited and attended two lectures at Harvard Business School and MIT. Professor Lauren Cohen of Harvard Business School explained in detail the nature of investment management through the case of The Children’s Investment Fund, 2005. Professor Andrey Malenko of MIT Sloan School of Management illustrated the procedures and risks of leveraged buyouts in capital markets through the case of Southland Corp., the parent company of 7-Eleven Inc.
Professor Andrey Malenko and Professor Hoan Soo Lee
Professor Lauren Cohen at the lecture with students
Group photo taken at the Lecture Room of Harvard Univeristy
Group photo taken at MIT
At MIT, students visited Broad Institute of MIT and Harvard in Cambridge, and were warmly received by Issi Rozen, Director of Strategic Alliances, and Benjamin Roin, Assistant Professor of Technological Innovation, who discussed Broad Institute’s pioneering research and historical discoveries in biomedicine and the talent development plan and future development strategy, followed by a dialogue with students about the differences and opportunities for cooperation between research institutes in China and America.
Students also gleaned considerable insight from the visit to Apollo Global Management LLC and Sotheby's International Realty. Apollo, well-known as the “Men in Black” and “Lone Ranger” of PEs, specializes in bad debt acquisition and restructuring of the acquired company. Its professional investment team, composed of carefully selected talents, has a strong reputation on Wall Street. Sotheby's International Realty, with its luxurious real estate agency network spread throughout 52 countries and regions, has over 720 offices and nearly 15,000 salespeople. After a field trip to companies across various industries in the financial sector, students had developed a deeper understanding of the global capital market.
Students are having a visit at Apollo Global Management LLC
Students are visiting Sotheby's International Realty
Besides the official field study, there were also many splendid moments during the module’s spare time. Students were enchanted by the world famous musical The Phantom of the Opera for its amazing theatrics and wonderful performance. At the Metropolitan Museum of Art, students encountered the timeless glamor of great works of art from various countries and periods. Students also visited the Empire State Building to catch a bird’s-eye view of New York. The rich and colorful itinerary, coupled with a fruitful field study, contributed to the success of this American Module.
As a successful practice of Tsinghua MBA Programs in recent years, the overseas module allows Tsinghua MBA students to learn in classrooms across the world and to enhance their global horizons through overseas exchanges and short-term exchange visits. In reflection on their experience, a number of students voiced shared perspectives regarding the personal value of the American Module of the 2015 Tsinghua MBA Survey of Global Capital Markets. Although many enjoyed first-time travels to the U.S. and the global center of finance and higher education, perhaps the more pivotal takeaway was an experiential and increasingly substantive understanding ofthe Sino-American finance and investment market. As students return to Beijing to resume their studies, it is this deepened grasp of global market interaction that, for many, will provide a competitive advantage and propel them forward in their careers in China and around the world.
(Reporters：CHEN Ke, 14P1 & ZHU Yidan, MBA Programs; Photographer：LIU Yupeng, MBA Programs）
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