This thesis discusses two separate lectures conducted by investment professionals for the students of FIN 498H Applied Investment Management at the University of Arizona's Eller College of Management. Both lectures focused on stock-picking strategies, but offered different approaches to investing. As a University of Arizona alumnus and Financial Advisor for Merrill Lynch in Tucson, Ken Morris exposes common investment pitfalls and suggests criteria for a concentrated equity portfolio. His main suggestion is to maintain a long-term investment horizon and hold a concentrated basket of companies that feature a sustainable competitive advantage at a margin of safety. As a hedge fund manager, CFA, and MBA from the GSB, Peter Brimm reveals his exhaustive and meticulous investment research process that he uses to make large bets on only a few stocks.

The team performed an in-depth analysis on the casual dining restaurant, Kona Grill (NASDAQ: KONA). The overall analysis took a top-down approach. First, macroeconomic conditions and trends pertaining to the restaurant industry were analyzed. Next, a comprehensive financial analysis was performed on Kona Grill and its closest competitors. Finally, various absolute and relative valuation techniques were performed to determine the intrinsic value of the stock, which came out to $8.29. Compared to the current price on 4/08/2013 of $8.83, it was determined that the stock was fairly valued, warranting a hold recommendation.

The team performed an in-depth analysis on the casual dining restaurant, Kona Grill (NASDAQ: KONA). The overall analysis took a top-down approach. First, macroeconomic conditions and trends pertaining to the restaurant industry were analyzed. Next, a comprehensive financial analysis was performed on Kona Grill and its closest competitors. Finally, various absolute and relative valuation techniques were performed to determine the intrinsic value of the stock, which came out to $8.29. Compared to the current price on 4/08/2013 of $8.83, it was determined that the stock was fairly valued, warranting a hold recommendation.

Much research has been conducted on the costs and benefits of performing in-depth financial statement analysis of individual companies. Myself and three other students from the Eller College of Management analyzed Taser International, Inc. (Ticker: TASR) as part of the annual CFA Investment Research challenge. This was a time-intensive learning experience, and our team placed second in the Southwest region. The question is, was this research worth our time? This paper assesses the financial knowledge of various college-educated students. A self-conducted questionnaire revealed that students for the most part do not invest, have mixed financial knowledge, and about half would trust a computer to manage their investments. Most college students should not be using financial statement analysis due to their lack of experience and education in financial topics, and most should consider low-cost investment management services. This study also takes it one step further by analyzing the various alternatives available for those looking to invest their money. Although most college students do not have the wherewithal to participate in cost efficient buying and selling of individual stocks, there are multiple smartphone applications and low-cost investment management services that now provide services once reserved for the ultra-wealthy.