Frequently Asked Questions
What is the investment horizon of investments for the first round?
The investment horizon is long term; approximately ten years.
Can we add appendices to the report to explain our investment model or thesis?
Yes, you can add appendices to the two-pager report to explain your model or thesis, but this is limited to one extra page. This page could include a snapshot of your model (images) without any text or explanations. Key valuation assumptions and forecasts should form a part of the main two-pager report.
What is the grading scheme of the two-pager report for the first round?
Round 1 - Score Card
Presentation is concise and to the point
Information presented in logical order
Student shows creativity and professionalism
Fundamental Analysis /30
The facts presented are correct and relevant to the analysis
Key information on the company and the industry have been well described
Business model and key revenue/cost drivers are appropriately identified
Defensiveness of the cash flow profile
Historical financial results snapshot
Investment Thesis /40
Investment thesis supported by well-researched fundamental analysis
Student identifies direction (improvement/deterioration) of KPIs/key trends over the long term
Preliminary valuation analysis is used to ascertain attractiveness of risk/reward
Student develops his/her own conclusions and long-term outlook
Can a student receive the mentoring if they already have an internship for summer 2022?
Any recommendation to improve the odds of being selected as a finalist?
Read publicly available documents (company presentation, 10-Q, 10-K) as well as sell-side reports. It also helps to listen to a few recent earnings calls and the most recent investor and analyst day. This should provide a solid foundation for the two-pager analysis. While referring to sell-side reports, we recommend that you use your own thinking and creativity to make a decision instead of blindly relying on and reproducing the recommendation of sell-side reports.