UWI students win first round of international investment competition
KINGSTON, Jamaica — A team of undergraduate students at the University of the West Indies (UWI) last week secured their place in the regional finals of international investment competition, the Chartered Financial Analysts (CFA) Institute Research Challenge.
The challenge requires competitors to make and defend recommendations to buy, sell, or hold in relation to company stocks of a selected public entity.
Jamaica was, for the first time, represented in the annual competition since the establishment of the Jamaica Association of Investment Professionals (JAIP), CFA’s regional representative. The first round this year was held at the University of Miami in Florida on March 3.
The team of five from the UWI, who major in Banking and Finance, Accounting, and Management Studies, were assigned FitBit Inc, a producer and distributor of wearable fitness and health tracking devices and apps based in San Francisco, California. After completing their assessment of FitBit, a hold recommendation was given with a target price of US$8.70 for company stock.
In a release from UWI, Dr Twila Logan, finance lecture and faculty advisor noted that participation in a competition of this stature is not an easy task, but rewarding, as students get a first-hand lesson in leadership, and teamwork at a higher level.
“All of us are students; most of us hold leadership positions. We had to balance everything. It has been a dynamic experience so far, allowing for a real world approach to sharpen our soft skills,” said Shawna-Lee Gordon, one of the members of the UWI team.
“We have had to learn to communicate effectively and carry out independent research. Entering has also contributed to the professional development of the team and given us a feel of how to operate in fast paced setting”.
As winners of the first round of the competition, the UWI team will vie for the win at the regional level in the Americas. The other two regions are the Asia Pacific; and the Europe, Middle East, and Africa regions. The regional finals for the Americas will take place on April 6-7, in Seattle, Washington.
