But Mr Glickstein's fund has held up well, outperforming its industry benchmark by about 6 per cent.
Mr Glickstein does not work for a big-name fund company, nor is he a professional portfolio manager. Instead, he is an MBA candidate at New York University's Stern School of Business, enrolled in a year-long course where students manage a portion of the university's endowment.
The aim of the Michael Price Student Investment Fund (MPSIF) is to expose students to the world of money management and give them solid credentials to help them line up summer internships and jobs after graduation. Students manage a family of funds and are responsible for all activities from screening and evaluating stocks, to presenting pitches for buy and sell recommendations, to strategising cash positions.