How the Challenge Works

Local CFA Institute volunteers work in conjunction with participating local universities to assemble teams of 3–5 business and finance students. Each team works directly with a mentor to research and prepare an equity research report on a publicly traded company. Students may develop their resume/CV through hands-on mentoring and intensive training in company analysis and presentation skills.

The best 3 team’s findings (selected by their reports) are locally evaluated by high-profile panels of heads of research, portfolio managers, and chief investment officers from some of the world’s top firms. The winner will take part in the CFA Institute Regional Challenge for the Virtual EMEA region held in TBA and in case of success in the Virtual Global Final held in TBA.

FAQ

Who is eligible?

• Both undergraduate and graduate students.
• You may apply as a single student as well as a group of 3-5 students.

What is the time line?

• Locally hosted Challenges are held in October–February of each year.
• Virtual Company presentation on 16th November 2021
• Teams submit final reports to CFA Society Germany on 9th January 2022
• Regional Finals are held in March–April, followed by the Global Final in mid-April.

How is the Research Challenge different from a “stock-picking” competition?

• Students conduct in-depth analysis on a single company and produce a full equity research report.
• The winning team is chosen based on the thoroughness of its analysis and knowledge of one company rather than whether their predictions of the stock price are correct.

Application

• Both undergraduate and graduate students are  eligbible.
• You may apply as a single student or as a group of students.
• Please send your application to Tobias Kalsbach (tobias.kalsbach@tum.de)
• Application Deadline: October 31, 2021.

Further Material

Please find more information here.