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Beta Sig Undergrad Reflects On Summer InternshipThe following is a submission from one of our undergraduate members, who interned for one of our older alums this summer.

By Ethan Steinberg

I am very thankful for the time and compassion shown by the handful of people who have taken the time in introducing me to this business platform. Coming in to an environment where there had not previously been an established internship program, I was apprehensive as to how I would be spending my days. That being said, this emergent program was essentially uncharted territory. However, I realized there was an opportunity to learn valuable information from the expertise of those around the office.

Initially, I was introduced to Dave Gruber to shadow and gain a perspective on the compliance area of the company. I learned how the policies and procedures are involved in the daily activities run throughout the workplace. Dave was very welcoming and I appreciate the time he spent in familiarizing me with the broad picture of how this business operates. Starting with understanding different forms of investing, and how an organization implements policies, gave me great insight into the roles of everyone in the office.

 Due to my interest in the financial field and investments, I shadowed Drew Veloric for the majority of my internship. My fascination as to his equity trades, and the different types of investments he executes, attracted me greatly. He taught me that there is much to learn and implement in market opportunities. Drew taught me priceless concepts, such as the best times to get in and out of positions, and how to react to world news in terms of its impact on the stock market. Simply by sitting in, and having conversations, on a daily basis on the strategies and advice he was executed, was great exposure. This included focusing on numerous option calls and tracking movements of some of the most active securities. I have always been interested in gaining an understanding of the market, and will be forever grateful for the mentoring provided initially by Drew.

Once Michael Veloric had come back from his CFA conference, he really made an effort to give me lessons on various market concepts that he has been monitoring since the beginning of his career. We had set up a few different market simulations. One was on an options education simulator, placing calls against Micron and tracking the investment. Another, measuring the effect on the Vanguard Total Market ETF (VTI), with different amounts of cash. Lastly, we tested if there was a benefit behind owning only the most abundant holdings in ETF’s like QQQ instead of the whole index. While we examined these tests, I began to utilize the Bloomberg program on Michael’s desktop. My eyes were opened to the amazing features of this program, and how useful it is in trading. We decided it would be great for me to get my Bloomberg Market Concepts (BMC) certificate, to learn more about the components of Bloomberg. Learning the application of Bloomberg was my most rewarding experience here because it was something I had an original interest in, and became proficient in it’s functions. In the time I spent with Michael, we went on two “field trips”. One was to the Federal Reserve Bank in center city Philadelphia, and another to Susquehanna Investments, located right around the corner. Both were insightful in there own ways. Combined, Michael and Drew had a tremendous influence on my internship, and I cannot thank them enough for their efforts in familiarizing me with the market.

Behind the scenes, Ms. Ponnocks really took me under her wing. We had spoken about competency, and having a voice in a business environment. She demonstrated a business-social mentality that really opened my understanding of how to accomplish my goals. The vision she had for me, and my time here, was explained and I believe I displayed my comfort and ability to participate in this work place, as she had hoped and monitored. This was highlighted by the Crime Commission Conference in which Ms. Ponnocks and Mr. Veloric included me. This conference exhibited the bravery that the officers in our area display, but also was an exemplification of the connections Mr. Veloric and Ms. Ponnocks have established, and why these are telling to their success as business partners.

I would like to thank Diane for constant positive attitude and being on top of the daily office process. She is a cornerstone of the structure here, and understands everyone’s personality in their professional approach. I would also like to thank Manuel and Q for their pleasant company during lunches and daily interactions. I could feel their positive presence throughout the office.

Lastly, I would like to thank Mr. Veloric himself for this opportunity. I understand the risk in opening a new intern position here, but I am thankful for his reaching out and willingness to have a young college student gain such exposure. I learned a lot of priceless information during this internship in many aspects. The resources provided, and people in place, made for a great work environment in which i was quickly able to find a niche. I know this was supposed to be a “short paper”, but I had too much to say about my experience interning here, and felt it was necessary to put it in writing.

Thank you for everything. I hope to be in close contact in the future!


Ethan Steinberg