Student Team from University of Waterloo in Canada Named Global Champions in 2024 CFA Institute Research Challenge

A student team from the University of Waterloo in Canada has been named Global Champions at the 18th annual CFA Institute Research Challenge. The global final was held in-person in Warsaw, Poland. This year, the student teams hailed from jurisdictions around the world including Canada, Brazil, Germany, Qatar, Australia, and the Philippines

Research Challenge participants are required to research, valuate, create a report, and present on an equity stock. This hands-on learning experience teaches the next generation of analysts the best practices and skills required for a successful career in investment analysis. The student teams are then assessed by a panel of distinguished judges drawn from leading investment industry organizations. Each student team has the opportunity to work alongside industry mentors, with support from a local CFA Society, to guide them through the competition.

Margaret Franklin, CFA, President and CEO, CFA Institute commented:

“We are extremely proud of the participants in this year’s global Research Challenge finals. The Research Challenge continues to be one of our greatest opportunities to connect with the next generation of talent in our industry. It leaves us all feeling incredibly invigorated and excited for the future. I’d like to extend my personal congratulations to this year’s global champion, the University of Waterloo. It is an incredible feat to make it to the finals with fierce competition from all corners of the world, so I’d like to share my congratulations to all of this year’s finalists. Well done!”

The winning team from University of Waterloo is comprised of five students including: Ronis Goel, Arnav Sheth, Ryan Trainor, Aryaman Dhillon, and Coco Dai. The team was supported throughout the Research Challenge by their industry mentor Jeannine LiChong and faculty advisor Steve Balaban, CFA. The team earned their win through their evaluation, report, presentation for a buy recommendation for Cargojet Inc.

The panel of judges responsible for awarding this distinction were:

• Eunice Tee, CFA, CFA Society Malaysia, Eastspring Investments
• Marcus Whitehead, CFA, CFA Society Baltimore, T. Rowe Price
• Piotr Sieradzan, CFA, CFA Society Poland, Kozminski University

This year, more than 6,700 students from 1,100 universities around the globe participated in the Research Challenge. The global final runners-up, deemed champions in their respective regions, joined the competition in-person to compete for the title of global winner. These teams represented:

• University of the Philippines Diliman, Philippines
• Australia National University, Australia
• WHU – Otto Beisheim School of Management, Germany
• University of Qatar, Qatar
• University of Waterloo, Canada
• Fundacao Getulio Vargas (FGV), Sao Paulo, Brazil