Global Network for Advanced Management

2017-18 Global Network Investment Competition

2017 – 2018 Competition Rules & Logistics

Rules

  1. Teams can be between 2-6 members.  It is okay for one school to have up to three teams.
  2. Each team will create a portfolio of five stocks, publicly traded on a market in the country in which their school is based, and select one of these stocks to write a full research report in PowerPoint format (maximum of 10 pages including figures, charts and appendices).Teams will also write investment summaries (no longer than 250 words each) for the 4 other stocks. No short sale strategies are permitted.
  3. Only the fully written idea will be judged for the Security Analysis Prize. All 5 stocks must represent publicly traded companies headquartered, incorporated and traded in the country in which the participating network school is located. Each stock must be priced in the top 95% of all stocks traded in the respective country’s markets and must have average daily trading values for the last 20 days in the top 90% of companies traded on the local market exchanges.
  4. Teams must use PowerPoint to present the investment thesis for their top idea. All the submissions, including write-ups, PowerPoint presentations, and video recordings of stock pitches will be posted on the Global Network Investment Competition website.
  5. Teams are responsible to notify competition organizers of changes in the stock symbol or delisting of the stock.
  6. Any exceptions to the above rules must be approved by the International Center for Finance (ICF) at the Yale School of Management.

*The organizers of the competition may at their discretion amend the rules at any point to ensure integrity of the competition.


Logistics

  1. Each team needs to register by October 18, 2017, 11:59 PM EST. Please talk to the MBA Director at your school to get the registration link for this year’s competition.
  2. The deadline to submit your portfolio of five stocks is October 31, 2017,11:59 PM EST and the deadline to submit your research report is November 12, 2017, 11:59 PM EST. Only complete and on time submissions will be accepted.
  3. Teams with the best research reports will advance to the final round of the Security Analysis Prize Contest.  The leaders of these teams will be notified by e-mail.  The timing of the Security Analysis Prize Contest will depend on the number of teams that enter the competition and the judges’ schedules. Teams that are not selected for the Security Analysis Prize Contest will still be eligible for Performance Prizes.
  4. Finalist teams in the Security Analysis Prize Competition will pitch their top idea via videoconference to the panel of judges.  No travel is required.  The winners of the contest will be announced on the same day.
  5. The Performance Prizes will be announced in May 2018. Participants will be able to track the performance of their investment portfolios on the competition website.

Judging

Security Analysis Prize: 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 net return of a team’s portfolio. The five stock selections will be equally weighted at the start of the competition, but after that the portfolio 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 31, 2017 and April 30th, 2018.  Performance will be defined in terms of gross return of portfolio less the performance of the applicable country’s capital-weighted stock market index. Net portfolio return is defined as the [return of the portfolio] – [return of the applicable country index].


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. The winning teams for both the stock pitch and the performance competitions will be awarded $3,500, and the runners up will be awarded $1,500. The Security Analysis Prizes will be announced immediately following Round 2 of the competition and the Performance Prizes will be announced in May 2017.