How Participating in a Student-managed Fund Helped an MS Finance Student’s Job Search

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At Baruch College, graduate students often face a gap. Undergraduates can apply to join Baruch’s Investment Management Fund, a student-managed investment fund on campus, however before recently, graduate students did not have an opportunity to join a student-managed fund. Founded by Zicklin MBA Daniel Jordan, DogBone Capital (https://www.linkedin.com/company/dogbone-capital/) is a paper student-managed fund and was created to bridge that gap. For Zicklin MS Finance alum Pankaj Lamkhade (https://www.linkedin.com/in/ca-pankaj-lamkhade/), the fund became a platform for him to apply what he had learned in finance classes, develop stock pitches, enhance his skills, and accelerate his career. More than just a student-managed fund, DogBone Capital serves as a launchpad for growth, providing graduate students with practical experience, hands-on skills, and mentorship to help them in their journey toward competitive finance careers. 

Pankaj is a finance professional with a strong foundation in accounting and controllership, having worked at major institutions such as Anderson Banks, Credit Suisse, and Nomura. After completing the CFA Level II, he pursued a master’s degree at Baruch College, graduating in December 2025, to transition from back-office roles into equity research and valuation. His graduate studies, particularly in Finance, Economics, Financial Statement Analysis, and his favorite course, Corporate Finance with Professor Choi, provided hands-on exposure to capital markets, portfolio construction, and investment analysis. 

Daniel Jordan recognized that graduate students lacked opportunities for practical investing experience, which led him to found DogBone Capital. The fund provides students with exposure to portfolio construction, equity research, valuation modeling, and professional-grade stock pitching, bringing together like-minded students who turn classroom concepts into real-world investment analysis and present their ideas to industry professionals. “DogBone Capital provided exactly that,” Pankaj explains. “Industry professionals challenged our assumptions and pushed us to improve our work semester after semester, which made the learning process extremely valuable.” 

After sharing a corporate finance class with Daniel Jordan, Pankaj joined DogBone Capital, seeing it as a chance to apply what he had learned in his finance courses to real stock pitches, grow his skills, and accelerate his career. He quickly became involved in portfolio allocation decisions, building financial models from scratch, and preparing and presenting stock pitches. “I wanted a platform where I could truly apply what I knew without relying on templates,” Pankaj adds. 

Stock pitch sessions, which include mentors such as Graduate Career Management Center (GCMC) Career Coach Jack Pullara, require students to defend their theses without relying on slides, closely mirroring professional investment interviews. 

Beyond his individual contributions, Pankaj collaborated closely with the founding team to experiment, learn from setbacks, and continuously refine the fund’s processes. He also led coverage of the energy sector and gradually took on a mentorship role, guiding newer members in financial modeling, valuation techniques, and best practices. Drawing on his prior experience of training banking interns, he balanced support with accountability, ensuring the team consistently delivered high-quality work. 

DogBone Capital helped Pankaj develop more than just technical skills. Stock pitching taught him how to explain complex ideas clearly, defend an investment thesis under pressure, and respond effectively to challenging questions. The most impactful feedback he received was technical, focusing on the accuracy and soundness of his discounted cash flow models and valuation assumptions. Rather than offering surface-level suggestions, industry professionals challenged his reasoning, prompting his team to refine both their models and investment thesis. Pankaj emphasizes practicing repeatedly and doing the work from scratch instead of relying on templates to showcase his skills, knowledge, and independent thinking. For students entering the job market, he notes that stock pitching is the single most important skill. Technical abilities can be learned on the job, but the confidence to pitch a stock, discuss valuation, highlight risks, and handle questions from others without slides sets candidates apart, especially in equity research. 

Participation in DogBone Capital directly impacted Pankaj’s job search. He used a stock pitch prepared for the fund during his internship interviews, which allowed him to speak confidently and in-depth about the stock, the company, its valuation, and risks. Support from the GCMC and career fairs was also critical. Through resume reviews, career fairs, and ongoing guidance from advisors like Lindsey Plewa and Justyn Makarewycz, Pankaj spent over a year refining his CV to highlight both his professional experience and hands-on work with DogBone Capital, positioning him competitively in the job market. 

Reflecting on his journey, Pankaj shares four key takeaways for students considering joining a student-managed fund like DogBone Capital: 

  • Trust the fund. Have confidence in the process, even when progress feels uneven. 
  • Be patient. Learning takes time, especially in a student-run environment. 
  • Be persistent. Those who commit, do the work, and stay on the course are the ones who succeed. 
  • Show up ready to learn. Treat the fund as a part-time internship, not just a resume line item. Hands-on experience is invaluable.

“The payoff can be truly career-defining,” Pankaj says. “DogBone Capital gave me the confidence and skills to transition from accounting into equity research and laid the foundation for my future success.” 

Interested in joining DogBone Capital? Email dogbonecapital@gmail.com. 

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