CFA Research Challenge

Introduction

The course focuses on developing valuation skills to produce an equity analyst report on a company, presentation skills to develop an effective presentation based on the report, and debating soft skills to effectively conduct a Q&A session. The skills developed in the course will allow students to successfully compete in CFA Institute Research Challenge- a personal challenge previous BI teams have undertaken and performed at the top level.

The course is seminar-based, and students will focus on understanding one current company in depth: working on business description, industry, and competition analysis, evaluating the ESG/sustainability performance, developing a report of the target company's expected financials, risk analysis, fundamental and relative valuation. Students will be challenged to understand the company well enough to come up with a compelling economic investment thesis of the company's future developments. 

The course is a combination of regular meetings, which will start in October and end at the end of December (slowing down for the exam period), visits from various industry and academic guest lecturers on valuation topics, soft skills such as presentation and communication skills, and visits of previous competition groups on key competition skills. The internal elimination round is in December/January.

Students are expected to compete, but it is not necessary for the course. Priority will be given to those who want to compete. The course grade is independent of the competition.

For further information about the Research Challenge, see

CFA Institute Research Challenge

Course content

• Full valuation of a real-life case by integrating knowledge from previous courses,
• Financial statement analysis, 
• Equity analyst report,
• Review of valuation methods/theory,
• Soft communication skills.
• Link ESG, SDG, and sustainability with valuation.