Transcript CFA Institute Research Challenge LA/TX

CFA Institute Research Challenge LA/TX
* CFA Society of Austin
* CFA Society of Dallas Fort Worth
* CFA Society of Houston
* CFA Society of Louisiana
* CFA Society of San Antonio
*****NOW IN IT’S FIFTH YEAR*****
CFA Institute Research Challenge LA/TX
CFA Institute Research Challenge
• The CFAI-RC in a local intercollegiate competition
sponsored by affiliate member societies of CFA
Institute, is an education initiative in which leading
industry professionals teach business and finance
students how to research, write and and present a report
recommending a “Buy”, “Sell”, or “Hold” position on
a publicly traded company.
• Originated by NYSSA, with support from CFA
Institute, the Challenge is now being replicated in
Africa, Asia, Canada, Europe, Latin America, Middle
East and the U. S.
CFA Institute Research Challenge LA/TX
Purpose of Challenge
• Teaches best practices in research to the next
generation of analysts.
• Provides experience in a real-world setting to
complement students’ academic curriculum.
• Develops interest in securities analysis and the
investment profession at top area business schools.
• Provides an opportunity for experienced
professionals to give back.
CFA Institute Research Challenge LA/TX
CFA Institute Research Challenge – LA/TX - Process
Educational
Seminars
webcasted to
students
Teams
selected by
universities
participating
Mentors
introduced
and subject
company
announced
Company
presentation
Reports
submitted
and
evaluated
Finalist teams
present to
panel – winner
selected
CFA Institute Research Challenge LA/TX
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Participants
Benefits to the Society
Key Components
Challenge Timeline
Next Steps
CFA Institute Research Challenge LA/TX
PARTICIPATION
• Local CFA Societies
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CFA Austin
CFA Dallas
CFA Houston
CFA Louisiana
CFA San Antonio
• CFA Institute
• Core Schools:
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LSU
Loyola
Northwest Louisiana
Rice
SMU
TCU
Texas A&M
Texas State
Texas Tech
Tulane
U of H
UNT
UT
UT-Dallas
UT-San Antonio
CFA Institute Research Challenge LA/TX
Challenge Participants
CFA Society
Faculty
Students
Industry
Responsibilities
Responsibilities
Responsibilities
Responsibilities
• Co-ordinate all student
campus activities.
• Attend the various
presentations/webcasts
• Complete the research
report/recommendation.
• Prepare presentation.
• Provide knowledge and
• Resources
• Co-ordinate Company
wide activities
• Present to the teams
and respond to team
questions.
• Abide by CFA Institute
guidelines and rules
• Liaise with university
advisors and students
• Recruit volunteers –
mentors, graders, judges
• Coordinate logistics
together with staff
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Benefits
Become an active Society
volunteer
Contribute in Challengerelated events
Share expertise with next
generation of investment
professionals
Network with other
society volunteers
• Co-ordinate all on
campus activities.
• Prepare recruiting
session in the fall
• Select the teams
• Communicate as
requested by IRC-TX
Co-ordinators
Benefits
• Network with other
universities
• Network with local CFA
society members
• Free sharing of ideas
with working Industry
and other University
staff
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Benefits
Network with students
at other universities
Network with society
members and learn
about the CFA program
Awards at local level
Winning team given
opportunity to complete
regionally
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Benefits
Easy give back to
community
Network with other
Industry professional
Have a active role in
the Societies
CFA Institute Research Challenge LA/TX
Benefits to the Society
 Fulfills mission to educate investment professionals
and investing public.
 Promotes investment management best practices and
ethical standards.
 Increases number of professionals who volunteer at
Society.
 Attracts senior-level professionals who may not
otherwise be active in Society.
 Forges relationships with area business schools and
students.
CFA Institute Research Challenge LA/TX
• Key Components
Seminars
Mentoring
Company Presentation
Written Reports
Panel Presentations
CFA Institute Research Challenge LA/TX
SEMINARS
• What: Investment professionals provide basic
knowledge of components of securities
research and analysis
– Research Report Writing – Buy and Sell-side
Perspectives
– Ethics
• When: September - November
• Where: On campus and/or web cast
CFA Institute Research Challenge LA/TX
Challenge Timeline
September – November
 Universities select teams
 Seminars at participating universities or via web cast
 Mentors chosen and confirmed
December - February
 Teams submit questions for company – Company Presents
 Kick-off meeting at which mentors are introduced and rules are discussed
 Teams do written reports
February – March
 Final reports are submitted and graded
 Finalist teams present recommendations at TIPS (held at UT-Dallas)
 Winning team announced
April
 Winning team of local LA-TX challenge ompetes regionally with other local
Challenge winners across Canada, Latin American and the United States.
CFA Institute Research Challenge LA/TX
Steps Completed:
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Secured funding support from CFA Institute
Communicated with participating universities
Updates on: www.cfasocietiesoftexas.org
Webcasts of seminars installed
Company approached
Final oral competition scheduled with TIPS
program in February at UT - Dallas
CFA Institute Research Challenge LA/TX
Next Steps (or in progress):
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Assign mentors
Getting commitments on Judges/Panelists
Solicit sponsors for events/competition
Work with winning team on regional
competition preparation
CFA Institute Research Challenge LA/TX
Coordinators
• Leah Bennett, CFA
CFA Society of Houston
713-961-0462 (x112)
[email protected]
• Sharon Criswell, CFA
CFA Society of Dallas/Fort Worth
214-987-0860 (x116)
[email protected]
CFA Institute Research Challenge LA/TX
• The New York Society of Security Analysts (NYSSA)
introduced the Investment Research Challenge in the 20022003 academic year as a means to promote best practices in
research among the next generation of analysts. The Challenge
is an eight-month educational initiative in which leading
industry professionals teach business and finance students how
to research and report on a publicly traded company. The
challenge is now trademarked, administered and managed by
CFA Institute and over 80 local society affiliates and is being
offered globally with the involvement of more than 500
universities and student teams.