FAQ

What is the CFA Institute Research Challenge?
The Challenge is an equity research competition among student teams from the world’s top university business and finance programs. Students write an equity research report on a publicly traded company, and present their findings to an expert panel. The teams are judged on their written reports and the presentations and a winner is selected. Throughout the competition, leading investment professionals volunteer as mentors and judges and teach these students best practices in equity research and corporate analysis.
 
Is the challenge just a “stock-picking” competition?
Without doubt, this challenge is much more than a stock-picking competition. The focus is on learning best practices in fundamental equity research, Financial analysis, and formulating a convincing argument to defend conclusions. Students are mentored by an experienced industry professional to conduct in-depth analysis on a single company and produce a full sell-side equity research report on subject company. The winning team is picked based on the completeness of its analysis and knowledge of the company/business model rather than whether their predictions of the stock price are correct. The marking scheme for presentation and written report are predefined.
 
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