Northwestern Capital Management
Who We Are
NCM is Northwestern’s premier equity-investment club that manages a portion of the endowment fund.
We strive to achieve strong returns on our portfolio and provide members with a first-rate finance education.
At NCM, you will meet a community of like-minded individuals sharing a strong interest in investing.
Through stock pitching and our training program, you’ll gain valuable skills required to succeed in the financial services industry and land jobs at the top investment banks, private equity funds, hedge funds, and more.
Our social events and mentorship opportunities will help you develop a strong network that you can leverage through every stage of your career.
Quarter Structure
We conduct weekly meetings and training sessions where we host a variety of workshops and go over pitches.
Each new member (freshman or sophomore) works on their own individual pitch throughout the quarter.
Members are expected to give weekly 2-minute updates on pitches followed by Q&A and feedback.
Outline of weekly deliverables throughout the quarter (post recruiting and onboarding):
Week 4 – Investment Thesis
Week 5 – Company Overview
Week 6 – Industry Overview
Week 7 – Investment Risks
Week 8 and Onward – Valuation
Mentorship System
We will pair you up with an upperclassman as part of our mentorship program. These upperclassmen are senior members of the club who have extensive experience with stock pitches and technical concepts. They will be your first point of contact regarding any questions.
NCM has a vast alumni network that can be a great resource for you. Previous NCM members have gone on to work at some of the top financial institutions, and they are more than willing to assist current members with the finance recruiting process.
Sample Investment Thesis
Skechers Case Study
Recommendation: Long, Target Price: $76.04 (Upside 23.22%)
While the Street has largely priced in tailwinds from strong performance in Skechers’ international DTC and domestic wholesale segments, it has overlooked the growth potential in its international wholesale business. The segment’s rapid expansion into China will significantly increase the number of total wholesale units sold, driving higher topline growth. Coupled with favorable trends in wholesale gross profit margins which are driven by decreased freight spot rates, this growth will enhance profitability through improved blended gross margins, positioning Skechers as an undervalued investment with substantial upside. As a result, we model 2025 revenue of $10,421 vs consensus $9,913 and 2025 EPS of $7.29 versus 2025 consensus EPS of $4.86. We pitch with a duration of 9 to 12 months expecting Street estimates to top out at the end of 1H 2025.
Training Process
You will participate in weekly training sessions covering basic technical concepts such as accounting, enterprise value/equity value, discounted cash flow models, and more. Weekly meetings will often involve pop quizzes on relevant technical content, with reviews the week after to solidify your learning. We host additional training sessions dedicated for sophomores who are actively recruiting for internships.
Additionally, upperclassmen regularly host workshops on a range of topics to expose members to the field of financial services. Previous topics have included portfolio management theory, healthcare/biotech, M&A deep-dive, private credit investing and restructuring overview, etc.
