2015 Global Network for Advanced Management Investment Competition

September 29, 2015

All Global Network schools are invited to choose a team by October 15.

Important Dates  |  Rules  |  Logistics  |  Judging  |   Prizes  |  Register (by October 15, 2015)

We are excited to announce the inaugural Global Network for Advanced Management Investment Competition open to students at schools within the Global Network for Advanced Management. The competition, hosted by the Yale School of Management, is a one-of-a-kind contest dedicated to equity investments sourced from top business students around the globe. Student teams will submit five investment ideas from the region in which they attend school for a chance to win up to $10,000 in prizes. Two separate awards will be given to teams that have either the top investment thesis or top risk-adjusted portfolio returns.

Each participating school can field one student team of between 2 and 6 members by October 15, 2015. The team will be asked to submit a portfolio of five investment ideas from their school’s region, accompanied by pitches for each of the selections. The International Center for Finance at the Yale School of Management is offering prizes for both the quality of the security analysis as well as the actual performance of the investment ideas presented. Prizes will be $5,000 per award for the team that wins the Security Analysis Prize and the total prize pool for Performance Prizes will be $5,000. The Performance Prizes will be announced on April 29, 2016 and will go to the team (or teams) with the top risk-adjusted portfolio returns. The Security Analysis Prize will be announced November 13, 2015, and will reward the best stock pitch, as judged by a panel of judges of faculty from GNAM schools and practitioners.

Important Dates

  • October 15, 2015  11:59 PM EST
    Team Assembly Deadline: Register   
  • October 31, 2015  11:59 PM EST
    Deadline to submit investment ideas and pitch documents. 
  • November 6, 2015  
    Notification of Round 2 of the Security Analysis Prize Competition
  • November 6 – 13, 2015  
    Round 2 teams will pitch their top idea via videoconference to a panel of judges.
  • November 13, 2015  
    The winners of the Security Analysis Prize will be announced.
  • April 26, 2016  
    The winners of the Performance Prizes will be announced.

Rules

  1. Each school can field a maximum of one team, consisting of between 2-6 members.
  2. Each team will produce five investment ideas total, with one top idea fully written out (maximum of 10 pages including figures, charts and appendices) and 4 ideas with 250 word summaries each. Investment ideas must be equity (i.e. publicly traded stocks, not fixed income or derivatives) and no shorting is allowed.
  3. Only the fully written idea will be judged for the Security Analysis Prize. The other 4 ideas will only be used for the purposes of the Performance Prizes. All 5 investment ideas must be about publicly traded domestic companies incorporated and traded in the country in which the participating network school is located.  They must be investable and legal with respect to the regulations of the country of listing.
  4. Teams must use the PowerPoint template provided to them and submit a PowerPoint (15 slides max) detailing the investment thesis for their top idea. All the submissions, including write-ups, PowerPoints, and video recordings of stock pitches will be posted on the GNAM Investment Competition website.

Logistics

  1. Each team should fill out one registration form by October 15, 11:59 PM EST. You can register using the following link: http://event-reg.som.yale.edu/signup/GNAM-Investment-Competition.
  2. The deadline to submit investment ideas and pitch documents is October 31st 11:59 PM EST.
  3. The submitted portfolio will be entered into commercial software within a week of submission.  All portfolios will be entered at close of trading prices on the same calendar day.
  4. Certain teams will be selected to move onto Round 2 of the Security Analysis Prize Competition, and will be notified by November 6th. Teams who do not make it into Round 2 will still be eligible for Performance Prizes.
  5. Round 2 will take place within one week following the notification of selection. Teams will pitch their top idea via videoconference to the panel of judges.
  6. The Security Analysis Prize will be announced by November 13th, 2015.
  7. The Performance Prizes will be announced on April 29th, 2016. Participants will be able to track the performance of their investment submissions on the competition website.

Judging

Security Analysis Prize: Judges will consist of leading professors from GNAM schools and industry practitioners. Teams will have 10 minutes to go through their top investment idea pitch with an additional 15 minutes of question and answer with the judges. Winners will be chosen based the quality of the investment thesis, research, question and answer, as well as presentation skills.

Performance Prizes: Performance Prizes will be based on the total excess return generated by the stock picks. The five stock selections will be equally weighted and will be treated as a buy and hold portfolio with no trading until the end of the competition. The investment period for the purposes of the performance prize runs for the 6 months between October 31st, 2015 and April 29th, 2016.  Performance will be defined in terms of excess return over the applicable country’s capital-weighted stock market index unless that is unavailable. Excess return is defined as the [return of the portfolio] – [return of the applicable country index]. Any substitutions for these benchmarks will be announced within two weeks of the portfolio submissions to allow for clarification. Teams will share the $5,000 Performance Prize in the proportion of positive excess return that the team generated divided by total positive excess return generated by all teams. The teams with the three highest levels of excess return will also receive non-monetary recognition through Platinum, Gold and Silver awards.  Portfolio performance will also be tracked for the 12 months between October 31st, 2015 and October 31st, 2016 to compare performance by schools over a multiyear period but will not be used for the purposes of the prize.

Prizes

The International Center for Finance at the Yale School of Management is offering prizes for both the quality of the security analysis as well as the actual performance of the investment ideas presented. Prizes will be $5,000 per award for the team who wins the Security Analysis Prize and the total pool for Performance Prizes will be $5,000. The Security Analysis Prize will be announced by November 13th, 2015 and the Performance Prizes will be announced on April 29th, 2016.

For any questions please contact Byron Kam at byron.kam@yale.edu.