Burkenroad Reports
Encyclopedia
Burkenroad Reports are widely circulated financial reports on small- to medium-sized companies between Texas and Florida (inclusive) that are traditionally under-followed by bulge bracket
stock analysts. Colloquially the Burkenroad-followed companies are referred to as "stocks under rocks". The reports are published by the Freeman School of Business
at Tulane University
. Under faculty supervision, students work in small groups to produce the reports after visiting companies and interviewing top management. This procedure gives students the opportunity to develop practical stock analysis skills.
in 1993. Since its founding, the reports have gained national attention for their "quality and for avoiding the conflicts inherent when analysts follow a company in which they have financial stake" (Wall Street Journal, October, 1995). Over 40 company reports have been published since the project's inception. Twenty-one companies under Burkenroad coverage have been taken over since 1993. The Latin American expansion of the program began in 2001. Later in 2001, The Burkenroad Mutual Fund went live.
Hotel in the historic French Quarter
. This event was FREE and open to the public.
The annual conference gives an opportunity for individual and institutional investors to hear directly from top management of Burkenroad-covered companies. The event also provides a forum for students, alumni, and business managers to network with one another.
and S&P 500
indexes, although appropriate risk adjustments need to be made.
issued a grant for the project. Tulane University
works in conjunction with universities in Mexico, Venezuela, Colombia, Peru and Ecuador to provide reports of companies in Latin America. Universities in Guatemala and Ecuador also have plans to participate. The Latin American Burkenroad Reports are provided for free in Spanish and English (click here to access).
York-Dallas-San Francisco)
Bulge bracket
The bulge bracket comprises the "big banks," the world's largest and most profitable multi-national investment banks.- Technical meaning :The term 'bulge bracket' refers to the first group of investment banks listed on the "tombstone" notifying the public of a financial transaction or deal...
stock analysts. Colloquially the Burkenroad-followed companies are referred to as "stocks under rocks". The reports are published by the Freeman School of Business
Freeman School of Business
The Freeman School of Business, at Tulane University, is located in New Orleans, LA. The school offers undergraduate programs, a full-time MBA program and other master's programs, doctoral programs, and many executive-education programs, and consistently ranks among the top business schools...
at Tulane University
Tulane University
Tulane University is a private, nonsectarian research university located in New Orleans, Louisiana, United States...
. Under faculty supervision, students work in small groups to produce the reports after visiting companies and interviewing top management. This procedure gives students the opportunity to develop practical stock analysis skills.
History
Burkenroad reports was founded by Peter Ricchiuti (Ri-Choo-ty)Peter Ricchiuti
Peter Ricchiuti is an assistant dean at the Freeman School of Business at Tulane University, and former chief investment officer for the State of Louisiana. In 1993 he founded the Burkenroad Reports. He is a popular public speaker on Finance, and regularly provides consulting to groups like NFL...
in 1993. Since its founding, the reports have gained national attention for their "quality and for avoiding the conflicts inherent when analysts follow a company in which they have financial stake" (Wall Street Journal, October, 1995). Over 40 company reports have been published since the project's inception. Twenty-one companies under Burkenroad coverage have been taken over since 1993. The Latin American expansion of the program began in 2001. Later in 2001, The Burkenroad Mutual Fund went live.
Annual conference
Burkenroad Reports has hosted 12 investment conferences in New Orleans. The 13th Burkenroad conference took place on Friday, April 24, 2009 at The Chateau BourbonChateau Bourbon
Chateau Bourbon is a hotel in New Orleans, Louisiana.On October 15, 1849, Daniel Henry Holmes established the D.H. Holmes department store, which went on to become a very significant part of New Orleans history. Situated on Canal Street for 140 years, the store became a French Quarter landmark,...
Hotel in the historic French Quarter
French Quarter
The French Quarter, also known as Vieux Carré, is the oldest neighborhood in the city of New Orleans. When New Orleans was founded in 1718 by Jean-Baptiste Le Moyne de Bienville, the city was originally centered on the French Quarter, or the Vieux Carré as it was known then...
. This event was FREE and open to the public.
The annual conference gives an opportunity for individual and institutional investors to hear directly from top management of Burkenroad-covered companies. The event also provides a forum for students, alumni, and business managers to network with one another.
Mutual fund
The Burkenroad Mutual Fund (HHBUX is the ticker symbol for the load fund and HYBUX is the ticker symbol for the no-load fund), is managed by Hancock Bank. Hancock’s investment managers utilize the Burkenroad Reports as well as other sources, and the fund is primarily composed of stocks followed by the Burkenroad program. Since inception (12/31/01) the fund has outperformed about 94% of domestic equity mutual funds and has significantly outpaced both the Russell 2000Russell 2000
The Russell 2000 Index is a small-cap stock market index of the bottom 2,000 stocks in the Russell 3000 Index.The Russell 2000 is by far the most common benchmarkfor mutual funds that identify themselves as "small-cap",...
and S&P 500
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
indexes, although appropriate risk adjustments need to be made.
Latin America expansion
The Latin American expansion of the Burkenroad Reports started in 2001 when the Inter-American Development BankInter-American Development Bank
The Inter-American Development Bank is the largest source of development financing for Latin America and the Caribbean...
issued a grant for the project. Tulane University
Tulane University
Tulane University is a private, nonsectarian research university located in New Orleans, Louisiana, United States...
works in conjunction with universities in Mexico, Venezuela, Colombia, Peru and Ecuador to provide reports of companies in Latin America. Universities in Guatemala and Ecuador also have plans to participate. The Latin American Burkenroad Reports are provided for free in Spanish and English (click here to access).
Objective
Burkenroad Latin America's objective is to promote the development of small and medium-sized enterprises in the region by improving its capacity to access financial markets (capital) and increasing the local supply of skilled management.Alumni
There are over 400 Burkenroad Reports Tulane alumni in the investment industry. These alumni are colloquially jokingly referred to as "Burkendorks," in reference to their attention to detail and dedication to accurate reporting. The alumni have been hired by a multitude of employers, including:- Banc of America Securities (Charlotte-Houston-New
York-Dallas-San Francisco)
- Bancomer (Mexico City)
- Barclays Capital (New York)
- Barings PLC (Budapest)
- JP Morgan Chase (Dallas, New York)
- Blackrock Financial Management (New York)
- CIBC/Oppenheimer (New Delhi-New York)
- Chase Securities (Houston-New York)
- Citadel LLC (Chicago)
- Citibank (Jakarta-New York-Stamford)
- City National Bank (Cleveland)
- ConocoPhillips (Houston)
- Credit Suisse First Boston (Boston-Dallas-Houston-New York)
- Deutsche Banc Alex Brown (Houston-New York)
- Fitch Investors Services (New York)
- Global Hunter Securities (New Orleans)
- Goldman Sachs (Houston-London-Memphis-New York-San Francisco)
- Grosever Funds (Washington, DC)
- Hanifen Imhoff Inc. (Denver)
- Healthcare Markets Group (Houston)
- Howard Weil Labouisse Friedrichs (New Orleans)
- Jefferies & Co. (Dallas-Houston-London-New Orleans)
- Johnson Rice & Co. (New Orleans)
- Knight Securities (Jersey City)
- Merrill Lynch (New York)
- Morgan Keegan (Memphis)
- Morgan Stanley (New York)
- Prudential Securities (New Orleans-San Francisco)
- Turner Investment Partners (Philadelphia)
- UBS (New York)
- Wachovia Securities (Charlotte-Houston-Palm Beach)
- Wells Fargo Capital Management (San Francisco)
- Whitney National Bank (New Orleans)
Media coverage
Below is a list of several, but not all, of the media reports on the Burkenroad Reports.Videos
- Peter RicchiutiPeter RicchiutiPeter Ricchiuti is an assistant dean at the Freeman School of Business at Tulane University, and former chief investment officer for the State of Louisiana. In 1993 he founded the Burkenroad Reports. He is a popular public speaker on Finance, and regularly provides consulting to groups like NFL...
& NBRNightly Business ReportNightly Business Report is a Business news television magazine broadcast live Monday to Friday evenings on most public television stations in the United States. Every weeknight, Nightly Business Report distills the essence of what matters in the business world, and provides analysis and reflection...
Co-Anchor Paul KangasPaul KangasPaul Kangas was the Miami-based co-anchor of the PBS television program Nightly Business Report, a role he held from 1979, when the show was a local PBS program in Miami, through December 31, 2009.-Career:...
, A Lesson in Investing From Burkenroad Reports, Nightly Business Report, 21 April 2004. - Kudlow & CompanyKudlow & CompanyThe Kudlow Report is a news television program about business and politics hosted by Lawrence Kudlow, that airs on the CNBC television channel at 7pm ET. The show began airing on January 26, 2009. It is a successor to Kudlow & Company, which aired from 2005 until October 2008...
, Burkenroad Reports, CNBCCNBCCNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, 22 April 2005. - Peter Ricchiuti, Burkenroad Reports, Nightly Business Report, March 2006.
- CNN Interviews Peter Ricchiuti, CNNCNNCable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
, April 2006.
Articles
- Emily Nelson, Some Managers Turn to Tulane in Search for Stock Tips, The Wall Street Journal, 10 October 1995.
- Katherine S. Mangan, Tulane Program Gives Business Students Direct Experience in Analyzing Companies, Chronicle of Higher Education, 12 December 1997.
- Sana Siwolop, Students Analyze Stocks, and the Professionals Learn to Listen, The New York Times, 7 March 1999.
- Paul Katzeff, Hancock Burkenroad Is A Classy Fund, Investor's Business Daily, Inc., 31 July 2002.
- Amy Esbenshade Hebert, Stocks Under Rocks: College students supply many of the offbeat picks for a unique fund, Kiplinger's Personal Finance, Sept. 2005.
List of representative companies
Below is a sampling from the 40 companies the reports have covered since the program's inception. Click here for the complete list of companies and free access to the PDF reports.Ticker - Company - City - Industry
- AFCE - AFC EnterprisesAFC EnterprisesAFC Enterprises is the Sandy Springs, Georgia-headquartered company that owns Popeye's Chicken & Biscuits. AFC Enterprises is a publicly traded company....
- Atlanta, GA - Food Retailing - AMSF - Amerisafe Inc. - DeRidder, LA - Insurance
- CRR - Carbo Ceramics Inc. - Irving, TX - Oilfield Services
- CNL - CLECO Corporation - Pineville, LA - Energy, Utility
- CONN - Conn's Inc. - Beaumont, TX - Retail, Electronics
- CRFT - Craftmade International - Coppell, TX - Consumer Products
- CRWS - Crown CraftsCrown CraftsCrown Crafts is an American bedding company based in Gonzales, Louisiana. In 2005, it licensed the Sesame Beginnings brand for some products.-Company overview:...
Inc. - Gonzales, LA - Apparel - EGP - EastGroup Properties - Jackson, MS - Real Estate
- EPL - Energy Partners - New Orleans, LA - Oil & Gas Exploration
- ENSI - EnergySouth Inc. - Mobile, AL - Energy, Natural Gas
- FMFC - First M&F Corporation - Kosciusko, MS - Regional Banks
- FFEX - Frozen Food Express Indus. - Dallas, TX - Transportation
- FRZ - Reddy Ice, Dallas, TX - Packaged Ice Manufacturing
- HIBB - Hibbett Sporting Goods Inc. - Birmingham, AL - Reatil, Sporting Goods
- HOS - Hornbeck Offshore Services - Covington, LA - Oilfield Services
- MPX - Marine Products Corp. - Atlanta, GA - Leisure Goods, Boats
- MMR - McMoRan Exploration - New Orleans, LA - Energy, E&P
- PKY - Parkway Properties - Jackson, MS - Real Estate
- POOL - Pool Corporation - Covington, LA - Leisure Goods, Pools
- ROL - Rollins Inc. - Atlanta, GA - Consumer Services
- RES - RPC Inc. - Atlanta, GA - Oilfield Services
- SBH - Sally Beauty Holdings - Denton, TX - Retail
- SAFM - Sanderson Farms Inc. - Laurel, MS - Chicken Processing
- CKH - SEACOR Holdings Inc. - Ft. Lauderdale, FL - Oilfield Services
- SGR - Shaw Group Inc. - Baton Rouge, LA - Engineering, Fabrication
- TISI - Team Inc. - Alvin, TX - Industrial Services
- WTI - W&T Offshore Inc. - Houston, TX - Oilfield Services
- WG - Willbros Group - Houston, TX - Oilfield Services