The MDX winning streak continues with a first place for Middlesex at the prestigious CFA Institute Research Challenge that took place this Friday. Our amazing student team, consisting of Chitra Idnani, Jay Kataria, Lakshmi Sreekumar and Mohammed Baseer delivered an absolutely flawless presentation and brave defense of a ‘SELL’ recommendation for a stock which is considered a “darling stock” on UAE stock market.
The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis. Students gain real-world experience as they assume the role of a research analyst and are tested on their ability to value a stock, write an initiation-of-coverage report, and present their recommendation (Buy, Sell or Hold). The competition has three levels – local, regional and global. At the local level, the company whose stock was selected for valuation this year was du.
A total of four teams competed at the local level – three from the UAE and one from Oman. Our team beat teams from IMT, AUD and Sultan Qaboos University to win first place and will now compete at the EMEA (Europe, Middle East and Africa) regional level which will be held in Milan, Italy on 1-2 April 2014. The winner of the regional final will move on to the global final in Bangkok, Thailand on 25 April 2014.
A panel of five judges observed and evaluated the presentations. Judges, by qualification, were CFA charter holders and, by profession, equity analysts at leading companies such as Abu Dhabi Investment Corporation (ADIC) and Emirates NBD Asset Management Company among others. They were highly impressed with the Middlesex students’ presentation style and defense skills. Our students put on a professional performance and handled the judges’ tough questions thoughtfully and knowledgeably.
The team was coached by Dr Rajesh Mohnot, Senior Lecturer in Finance, and supported by Finance academics Subhadra Satapathy, Dr Vijaya Kumar and Hameedah Sayani.