On April 1, 2019, Felipe Ucros ’05, a director at Scotiabank, presented to Daniel Lawson’s Finance Seminar (FIN422) class and the Student Managed Investment Portfolio meeting.
Ucros was an international transfer student that graduated from Indiana University of Pennsylvania in 2005. While at IUP, Ucros co-founded the Eberly College of Business’s Student Managed Investment Portfolio (SMIP) in which students invest real money
from IUP’s foundation. When Ucros started the SMIP, the foundation allocated $200,000—now, the SMIP has over $1,700,000 under management. Ucros’s analysis and recommendations are featured on Bloomberg under the ‹ANR› function.
Ucros explained his current role at Scotiabank and some of the responsibilities he has day-to-day. He also explained what Wall Street-caliber analysts do, how they set up their models, and some of the behind-the-scenes politics of analysts. An interesting
point he made was about analysts attempting to fit into the majority. If an analyst makes a non-conforming call it could make or break their career. If he or she makes a contrarian call on a company and it pans out, they usually gain respect and trust
among their followers. If the contrarian calls go wrong, they will lose reputation and possibly their job.
The majority of Ucros’s presentation explained how to model properly and some of the norms of Wall Street modeling like proper formatting, model structure, data representation, etc. He explained how getting to know excel and the shortcuts it has to offer
will save an immense amount of time. He also pointed out some of the important things to pay attention to in order to properly value a company—scalability, trendy vs. innovative, customer demographics (supply/demand model), etc.
At the end of the class, he showed a PowerPoint showing some of his friends and colleagues outlining their path to success. The bottom of each slide featured a quote from them explaining what their biggest piece of advice was and some of the life lessons
they’ve learned. For example, Heidi, a friend of Ucros, stated “Be a fighter. You will hear ‘no’ more than 90% of the time. In fact, I may have heard ‘no’ 99% of the time. Don’t let it put you down.”
Thank you, Felipe Ucros, for sharing your knowledge and advice with our students. IUP is proud to have you as active alumnus.
Eberly College of Business and Information Technology