2017 Finalists

Ø  Binghamton U.

Ø  Fordham U.

Ø  Marist College

Ø  Seton Hall U.

CFA Institute Research ChallengeĀ®

The CFA Institute Research Challenge® is sponsored by CFA Institute and locally hosted by the New York Society of Security Analysts. The CFA Institute Research Challenge is an educational initiative in which leading industry professionals teach business and finance students how to research and report on a publicly-traded company. NYSSA originated the competition fourteen years ago (as the “Investment Research Challenge”) as a means to promote best practices in research among the next generation of analysts.

The Research Challenge spans one academic year, and consists of the following components:

  • Training in Research and Report Writing: Students receive training by attending NYSSA-sponsored seminars on Tools for Analysts, Presentation Skills, Report Writing, and Ethics. Seminar instructors are selected by NYSSA.
  • Analysis of a Public Company: Teams research the same public company, selected by NYSSA, including a question-and-answer session with company management.
  • Mentoring by a Financial Market Professional who advises and critiques the team's report. 
  • Assessment of Written Reports: A group of volunteer graders selected from NYSSA’s membership assess the written research reports.
  • First-Round Presentation to High-Profile Wall Street Experts: All teams present their research to Wall Street experts. The experts choose the “final four” who have the strongest research to present their final report.
  • Final-Four Presentation to a High-Profile Wall Street Experts: The “final four” present their research to a panel of respected Wall Street experts. The winning team is selected based on the combined scores for the written report and the presentation.

The winning team, Seton Hall, advanced to the Americas Regional to compete against other North American teams in Seattle, WA on April 6 & 7, 2017. With a top mark there, Seton Hall is now heading to the Global Finals in Prague on April 28th. Read about their performance at the Americas Competition, below!

Congratulations to 2017 Regional Champion Seton Hall University! Next stop: Global Finals in Prague!

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With immense pride, the New York Society of Security Analysts is pleased to announce that Seton Hall University finished with a top mark at the 2016-17 CFA Research Challenge Americas Competition, capturing one of only four spots at the Global Finals, set to take place in Prague on April 28th. The other Americas winner, hailing from the Dominican Republic, is the Barna Business School.

Seton Hall started the competition in October 2016 alongside 22 local participating teams with the kick-off presentation. There, Dominion Resources was announced as the subject company. For the next couple of months each team researched Dominion for the purpose of writing a sell-side equity research report and prepared for a presentation in front of a panel of judges. Seton Hall University was picked as the top team from NYSSA. This paved the way for advancement to the first round in the America’s Regionals which took place on Friday April 7 in Seattle, Washington.

A total of 53 teams from across CFA Societies in the Americas participated. Seton Hall competed against six teams, randomly selected in the first round, including the home team from host-Society Seattle University. Seton Hall’s presentation was confidently delivered with all team members displaying their complimentary respective strengths, particularly during the difficult Q&A led by the three-judge panel. Each team member knew when and what to add to one other’s answer, providing an impressive overall performance. The caliber of the competition was very high, making the crowning of a winner a tall task. In addition, the written research report in the first round was accounted for in the overall score, making it more difficult to know where each team stood.

After a nerve-racking lunch, Brian Stype, Director of the CFA Research Challenge, announced the winners from all the various groups in the two tracks. Seton Hall was pronounced the winner of their group and had a moment to celebrate before preparing for the final round later that day. Seton Hall’s next step was to compete against another group of winners from their respective group: University of Waterloo (last year’s global winners), Brazil’s Insper Instituto, Chapman University from Orange County, and the University of Denver. With a new set of judges and fresh set of questions, the final presentation was on a stage in front of hundreds of spectators watching it unfold live, as well as potentially thousands of online viewers.

Seton Hall presented third and once again did a fantastic job presenting the investment case for subject company Dominion Resources. They proved undaunted and unflappable despite any curve ball questions thrown at them. Each team had a different subject company, and it was clear that each one had prepared for the opportunity to move to the next round. Please take a moment to listen to these students’ stellar presentation:https://livestream.com/accounts/650767/RC17-AMER/videos/153644640.

While the judges deliberated on crowning a winner of the Americas competition, all the participants took the opportunity to network and talk about their experience. The announcement was made by John L. Bowman, CFA Managing Director Americas of CFA Institute, that Seton Hall and Barna would be the two schools representing the Americas in this year’s Global Finals, set to occur in Prague on April 28th. NYSSA is proud to continue its support of the CFA Research Challenge and wishes Seton Hall all the best at the next stage of the competition. We recognize that an immeasurable amount of work goes into producing the competition and appreciate all the volunteers for their help along the way. If you would like to learn more about the competition and potentially be a part of it, please contact Mario E. Carias, CFA mcarias@nyssa.org with any questions.


"Final Four Presentations"


2017 NY Local Final Winner

Seton Hall University

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Past Winners


Seton Hall University
Team Advisor: Tony Loviscek
Team Mentor: David Dineen, CFA
Team Members: John Gallagher, Jonathan Glincman, Kathleen McCarthy, Mark Moskwa, and Anthony Pescetto 


Binghamton University
Team Advisor: Dina Layish
Team Mentor: Daniel Barile, CFA, CAIA
Team Members: Eric Dohn, Liam Hayes, Brandon Hohenberg, Robert Pim, and Ronick Sanon


Rutgers University
Team Advisor: John Longo, CFA
Team Mentor: Ed Maguire
Team Members: Matthew Fishbein, John George, Vikram Kesavabhotla, Susan Smith, and Greg Timko


Fordham University
Team Advisor: Robert Fuest 
Team Mentor: Michael Kiernan
Team Members: Frank Kong, Prapunsak (Ta) Wongpaitoon, Charmian Cooper, Neil Dhruve, and Matthew Henriksson

2013 Fordham University 
Team Advisor: Robert Fuest
Team Mentor: Michael Kiernan
Team Members: Jonathan LaSala, Elaine Lou, Paul Kearney, and Ken Boswell
2012 Rutgers University 
2011 Rutgers University 
2010 Fordham University 
2009 Yale University 
2008 Rutgers University 
2007 Seton Hall University 
2006 Seton Hall University 
2005 Fordham University 
2004 New York University 
2003 Pace University 

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