Investment Research Challenge Texas IRCTX Investment Research Challenge

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Investment Research Challenge - Texas (IRC-TX)

Investment Research Challenge - Texas (IRC-TX)

Investment Research Challenge The Investment Research Challenge. TM is an educational initiative in which

Investment Research Challenge The Investment Research Challenge. TM is an educational initiative in which leading industry professionals teach business and finance students how to research, write and present a report recommending a “Buy”, “Sell”, or “Hold” position on a publicly traded company. • Originated and trademarked by the NYSSA the Investment Research Challenge (IRC) is now being replicated in Boston, Hong Kong and Texas societies (CFA HOUSTON/CFA-DFW) and starting up in Virginia and other regions by local CFA societies.

Purpose of Challenge • Teaches best practices in research to the next generation of

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.

Investment Research Challenge – Texas - Process Seminars hosted at universities and web-casted Company

Investment Research Challenge – Texas - Process Seminars hosted at universities and web-casted Company presentation Teams selected by universities Reports submitted and evaluated Mentors introduced and subject company announced Present to panel–select winner

 • • • Beginnings and Participants Benefits to the Society Key Components Challenge

• • • Beginnings and Participants Benefits to the Society Key Components Challenge Timeline Next Steps

Beginnings-University Participation • Steps for Challenge Development: • First Program (SEMI) – – Scholarship

Beginnings-University Participation • Steps for Challenge Development: • First Program (SEMI) – – Scholarship Education Mentoring Internship • Objective: – Outreach to Schools providing students a forum for exchange of ideas – Core schools • Rice • SMU • TCU • Texas A&M • U of H • UT – Add new school(s) each year (Texas Tech in 2008) – Annual Research Challenge – Winners compete globally

Challenge Participants CFA Society Faculty Students Industry Responsibilities • Provide knowledge and • Resources

Challenge Participants CFA Society Faculty Students Industry Responsibilities • Provide knowledge and • Resources • Co-ordinate Company wide activities • Firm wide involvement in CFA Houston CFADFW • Determine rules • Liaise with university advisors and students • Recruit volunteers – mentors, graders, panelists • Coordinate logistics together with staff • Co-ordinate all on campus activities. • Prepare recruiting session in the fall • Create council wide events • Co-ordinate all student campus activities. • Work with University staff to get student club involvement Benefits • Become an active Society volunteer • Receive recognition in Challenge-related publicity in the newsletter, on the website, and in press releases • Network with other volunteers Benefits • Network with other schools and universities • Network with CFA Houston and CFA-DFW members • Free sharing of ideas with working Industry and other • University staff Benefits • Network with other students in other schools and universities • Network with CFA Houston and CFA-DFW members and learn about CFA • Create Industry network for after graduation • • • Benefits Easy give back to community Network with other Industry professional Have a active role in the Society

Benefits to the Society § Fulfills mission to educate investment professionals and investing public.

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.

 • Key Components Seminars Mentoring Company Presentation Written Reports Panel Presentations

• Key Components Seminars Mentoring Company Presentation Written Reports Panel Presentations

SEMINARS • What: Investment professionals provide basic knowledge of components of securities research and

SEMINARS • What: Investment professionals provide basic knowledge of components of securities research and analysis – Internet as the Ultimate Securities Analyst Tool – Research Report Writing – Buy and Sell-side Perspectives – Ethics • When: September - December • Where: On campus and/or web cast

Challenge Timeline September – December Ø Universities select teams Ø Seminars at participating universities

Challenge Timeline September – December Ø Universities select teams Ø Seminars at participating universities or via web cast January Ø Teams submit questions for company – Company Presents Ø Mentors chosen and confirmed Ø Kick-off meeting at which mentors are introduced and rules are discussed February - March Ø Teams do written reports April - May Ø Final reports are submitted and graded Ø Panel Presentations co-ordinated with TIPS Program Ø Winner of IRC-TX competes globally at CFA Annual Conference, Vancouver or New York, London, or Hong Kong.

Steps Completed: • • • Secured funding support from CFA Institute Selected instructors Co-ordinated

Steps Completed: • • • Secured funding support from CFA Institute Selected instructors Co-ordinated Seminars Installed web casting Company approached Final oral competition scheduled with TIPS program in April at Texas A&M.

Next Steps (or in progress): • • Assign mentors Getting commitments on Judges/Panelists Solicit

Next Steps (or in progress): • • Assign mentors Getting commitments on Judges/Panelists Solicit sponsors for events/competition Establish awards – will include CFA exam fees reimbursements for winning team members • Develop global competition with winners of other regional/country challenges at CFA Institute’s Annual Conference or other financial center.

Coordinators • Leah Bennett, CFA Society of Houston 713 -961 -0462 (x 112) lbennett@kingadvisors.

Coordinators • Leah Bennett, CFA Society of Houston 713 -961 -0462 (x 112) lbennett@kingadvisors. com • Sharon Criswell, CFA Society of Dallas/Fort Worth 214 -987 -0860 (x 116) scriswell@almfirst. com

NYSSA – IRC • The New York Society of Security Analysts (NYSSA) introduced the

NYSSA – IRC • 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 fully supported at CFA Institute and is being offered in other regions including Hong Kong, Boston, Texas and Virginia with many additional local CFA societies looking to add a Challenge in the 2008/2009 academic year.