***DEADLINE: Friday June 5th, 2026 at 11:59PM**** ***DOUBLE SUBMISSIONS WILL BE DELETED AUTOMATICALLY BY THE SYSTEM*** Founded in 2018, The Benjamin Graham Value Investing Program equips undergraduate economics students with an unparalleled education in finance and investing. Students participating in this two-year program will be able to understand the full set of fundamental economic and strategic forces that favor or disfavor a particular investment opportunity from both a theoretical and practical perspective. A cohort of 40-45 students is selected annually to participate in the following 2-year commitment (**Accepted seniors may complete year 1 and year 2 simultaneously under a compressed program):

• Year 1: The Value Investing Concentration, taking place throughout the 2026-2027 Academic Year, is taught by real-world practitioners known as “Investors in Residence”.  This industry-based curriculum prepares students through applied research projects, financial modeling, and group projects in five required core courses: EC-167 History of Financial Crises (Fall), EC-168 Introduction to Value Investing (Fall), EC-169 Applied Value Investing (Winter), EC-106S Competitive Strategy (Spring), EC-177 Field Projects in Investing (Spring), & 2 Approved ECON electives (any quarter).    
• Year 2: The Simon Fellowship, taking place throughout the 2027-2028 Academic Year (or concurrently under the compressed year), offers senior students a unique “full circle” experience, allowing them to contribute significantly to the UCLA business community while honing their own skills in finance and investing. As Simon Fellows, students embark on a journey to build their community service profile with a focused mission: to illuminate the path for underclassmen towards careers in finance and investing.  

Students who meet the following requirements are encouraged to apply:  

• Satisfactory completion of the lower division requirements for the Economics, Business Economics, or Mathematics/Economics Majors (must be majoring in an economics department program and/or double majoring with an economics major being one of the multiple majors)
• Satisfactory completion of following courses is required before commencing the concentration: MGMT 1A - Principles of Accounting I, MGMT 1B - Principles of Accounting II, and ECON 11 - Microeconomic Theory. These pre-requisites are strictly enforced and must be completed before the start of Fall 2026.
• Satisfactory completion of following courses is strongly recommended before commencing the concentration in Fall 2026: ECON 101 - Microeconomic Theory. If not possible, ECON 101 may be a concurrent course during Fall or Winter of the concentration year.

 If you are interested in joining the Benjamin Graham Value Investing Program, we encourage you to apply below. For any questions regarding the Program’s requirements or eligibility, please contact Humberto Merino-Hernandez ( hmhernandez@econ.ucla.edu) What is Value Investing?   Value investing is a time-tested and proven investment methodology that is fundamentally different from conventional security analysis. Founded by super-investors Benjamin Graham and Warren Buffett, Value Investing focuses on determining the intrinsic value of a company based on its current and historical financial statements. An investment is worthwhile only if there is a strong set of competitive advantages within the business and if a significant margin of safety exists between the company’s intrinsic value and its market price. How will this program help my investment career?   A student graduating from this program will understand the full set of fundamental economic and strategic forces that favor or disfavor a particular investment opportunity. Thus, students will be prepared for a wide range of careers within private equity, distressed debt firms, and actively managed mutual funds. Courses are taught by our “Investors in Residence,” a series of guest lecturers including C-suite executives from some of the nation’s largest endowments, hedge funds, mutual funds, and private equity firms. Additionally, the core courses include a Financeable subscription where students hone their accounting, finance, and Excel skills through interactive modeling modules.

How To Apply – Value Investing Concentration Application Requirements:       · Online Application Form (Submittable)       · Cover Letter (1-Page)       · Resume (1-Page)       · Unofficial Transcript       · Essay Response 1 (1-2 Pages): Describe your academic and career interests, and explain how and why the Value Investing Program would help you explore these areas.

   · Essay Response 2 (1-2 Pages): Reflect on a time when you have significantly contributed to the personal or professional growth of an individual or a group. Describe your role in this development process, focusing on mentorship or other forms of support you provided. As a Simon Fellow, how do you envision applying your experiences and insights to foster the growth of younger students within this context? Application Timeline:  - Friday, May 12th, 2026 at 5:00PM - Application Goes Live -  Friday June 5th, 2026 at 11:59PM - Application Due Application Review:       · Student applications will be reviewed by the Value Investing Program admissions committee.       · At the admissions committee discretion, phone/in-person interviews may also be scheduled.       · Students will be notified of their acceptance on Friday, June 19th, 2026 by 11:59p.m. via email. All decisions are final.