Burkenroad Reports Explained

Burkenroad Reports
Editor:Lesley Baker (US reports)
Editor Title:Editor
Frequency:Semi-annual
Circulation:national
Category:Finance
Investment Research
Publisher:Freeman School of Business at Tulane University
Firstdate:1993
Language:English (US reports); Spanish & English (Latin American reports)
Website:www.freeman.tulane.edu/burkenroad/

Burkenroad Reports are widely circulated financial reports on small- to medium-sized companies around the Gulf Coast that are traditionally under-followed by bulge bracket stock analysts. Colloquially the Burkenroad-followed companies are referred to as "stocks under rocks".[1] 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.[2]

History

Burkenroad reports was founded by Peter Ricchiuti in 1993.[3] 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" (The 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.[4] The Latin American expansion of the program began in 2001. Later in 2001, The Burkenroad Mutual Fund went live.[5] There are hundreds of 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.

Annual conference

Burkenroad Reports has hosted public investment conferences in New Orleans. The Burkenroad 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 Hancock Horizon Burkenroad Mutual Fund (HHBUX, HYBUX and HIBUX), is managed by Horizon Advisors and is distributed by SEI Investments. The Burkenroad fund seeks capital appreciation by investing primarily in common stocks of companies with small capitalizations located or doing business in Alabama, Florida, Georgia, Louisiana, Mississippi, and Texas. The fund managers utilize a quantitative top down approach to picking stocks and use Tulane's Burkenroad Reports as a source of research and analysis when needed. Since inception (12/31/01) the fund has outperformed about 94% of domestic equity mutual funds and has significantly outpaced both the Russell 2000 and S&P 500 indexes,[5] [6] 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 Bank issued a grant for the project.[7] Tulane University works in conjunction with universities in Mexico,[8] Venezuela, Colombia, Peru and Ecuador to provide reports of companies in Latin America. Universities in Guatemala and Ecuador also have plans to participate.[9] 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.[9]

Media coverage

Below is a list of several, but not all, of the media reports on the Burkenroad Reports.

Videos

Articles

List of representative companies

Below is a sampling from the 40 companies the reports have covered since the program's inception.[10]

See also

Notes and References

  1. Book: Stocks Under Rocks: How to Uncover Overlooked, Profitable Market Opportunities. 0133399095.
  2. Web site: Poets & Quants: Behind Tulane's Burkenroad Reports – Freeman News. 12 October 2020. freemannews.tulane.edu. 10 June 2019 .
  3. Web site: BurkenRoad Reports . 22 March 2014 . https://web.archive.org/web/20140323003305/http://www.burkenroad.org/about.php . 23 March 2014 . dead .
  4. Web site: Burkenroad at 25: A Quarter Century of 'Stocks Under Rocks'. 12 October 2019. Freeman Magazine.
  5. Web site: Burkenroad Reports - Mutual Fund. 29 December 2008 . dead . https://web.archive.org/web/20080430101612/http://www.freeman.tulane.edu/burkenroad/mutualfund.htm . 30 April 2008 .
  6. Web site: Mutual fund backed by Tulane student research ranked among best in the nation. Tulane News.
  7. Web site: Freeman School @ TULANE . 29 December 2008 . dead . https://web.archive.org/web/20070911073211/http://www.freeman.tulane.edu/LatinBR/default.html . 11 September 2007 .
  8. Web site: Tecnológico de Monterrey. burkenroad.mty.itesm.mx.
  9. Web site: Tulane Burkenroad Reports Latin America. www.latinburkenroad.com.
  10. Web site: List of the 40 companies under coverage. https://web.archive.org/web/20130512074319/http://www.freeman.tulane.edu/burkenroad/companies.php. dead. 12 May 2013.

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