David Fletcher

David Fletcher, an overworked portfolio manager of the Emerging Growth Fund at a New York investment management firm had plans to start up a research analyst’s team (Hill & Conrad, 2005, pg. 377).  His plan was to delegate a portion of his workload to this team.  David Fletcher faced several problems when he introduced new members at different stages to his team. His first effort to build a research team was not as successful as he planned. There were major challenges he experienced with a task oriented individual while working on building an awesome team.  

Fletcher started out as a clerk and rose through the ranks of Wall Street to managing the two most aggressive mutual funds at a major investment firm (Hill & Conrad, 2005, pg. 377). His reputation flourished and it leads him to his current role at Jenkins, Fletcher Partner a smaller firm. His analyst and former administrative assistant, Stephanie Whitney, provided support with health care, environmental, and retail stocks, Fletcher decided that it was time to hire a team of people who could relieve him of the in-depth company analyses which took so much of his time (Hill &Conrad, 2005, pg. 381). He spoke to several colleagues regarding strategies on selecting and managing research teams, he found three general approaches. A recent JFP portfolio manager developed part-time consultants that he would turn to when needed (Hill & Conrad, 2005, pg. 382).

An acquaintance at one of the largest firms employed seasoned industry specialists with discretion to buy and sell stocks in their particular areas (Hill & Conrad, 2005, pg. 382). Finally, his friend and colleague Robert Tepper, who ran a rim similar in size and strategy to JFP, employed a small team of analysts that specialized in various industries (Hill & Conrad, 2005, pg. 382). Tepper explained that he typically hired people who possessed less than five years of investment experience. This would allow Tepper the opportunity to train each analyst in his...