- Each team must consist of three full-time MBA students, of which at least one must be a first year student.
- At 8:00AM EST Friday, November 11th, 2011, each team leader will be informed via email of the universe of stocks available for recommendation. The available stocks will be selected from a specific industry and exclude companies in which trading is not considered sufficiently liquid. From the list of available stocks, students must make one, and only one, buy recommendation as well as one, and only one, sell recommendation. The investment horizon is twelve months and the students should assume they represent a $1 billion fund.
- Students will be permitted to use any research tools that are available through each respective school, including Bloomberg, FactSet, StockVal, professionally prepared equity research and industry contacts. FactSet will be made available to each participating student.
- Presentations must be submitted electronically as a PowerPoint file. A template will be provided along with the list of available stocks. File names must include the name of the team’s school. Presentations should not contain any video or other excessively large data objects. Presentations must be emailed to the event coordinators no later than 8:00AM EST on Thursday, November 17th, 2011.
- Teams will be randomly divided into three divisions. Each division will consist of five teams. As part of this process the presentation order for teams will be randomly assigned.
- At 9:00AM EST presentations will begin. Each team will have 15 minutes to present its stock recommendations. The presentations will be followed by up to 10 minutes of questions by the judges. Each division will be officiated by a member of the Kenan-Flagler Business School community. Time limits will be strictly enforced by the official.
- Following all of the presentations, the judges will assign a rank of 1 (best) through 4 (worst) to each team. Judges must complete their rankings by 12:00PM EST. The official will sum the ranks of all teams with the lowest score determining the finalist from the division. An evaluation form will be provided with the judging guidelines. Areas of evaluation include: quality of analysis, presentation skills, Q&A expertise and strength of investment thesis.
- During the luncheon judges representing each division will reveal the three final round teams. The order of presentation for finalist teams will be determined by random drawing.
- At 1:30PM EST final round presentations will begin. Each team will have 15 minutes to present their stock recommendations and 20 minutes of questions by the judges. Judges will rotate in asking the first question of each group. The proceedings will be officiated by a member of the Kenan-Flagler Business School community. Time limits will be strictly enforced by the official.
- Following all of the presentations, the judges will assign a rank of 1 (best) through 3 (worst) to each team. The officiating member will sum the ranks of all teams with the lowest score determining the winner of the contest. The announcement of the winner will immediately follow at the awards ceremony.
Performance Award Rules
- All results are based on total percentage returns of both the long and short positions which are equally weighted. The closing prices of the relevant securities on the last US exchange trading date before the current and previous year's Alpha Challenge competition will be used.
- The peformance award is based only on the positions selected by students during the previous year's competition. Positions can not be changed, liquidated or substituted in any way following presentation.
Questions? Please contact us.