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

Categories /Score

Organization /30

  • 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?


Yes.




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.