Beginning this year, in collaboration with Walsh College, Leon LaBrecque, JD, CPA, CFP®, CFA, managing partner and founder of LJPR, LLC, is personally funding a $100,000 student-run investment portfolio that will consist exclusively of companies headquartered in Michigan.
Aptly named the Michigan Alpha Project (MAP), this new program provides a forum for Walsh finance students to gain real-world investment and business experience that they otherwise would never have. It also provides an opportunity to take advantage of and support his growing home-state market.
The outcome of the MAP investments – which are focused on Michigan equities – will determine whether or not regional bias has a positive or negative affect on portfolio alpha. Alpha is a measure of performance on a risk-adjusted basis, and is defined as the excess return of the fund relative to the return of the benchmark index.