2005 Headlines
Johnson School Wins Third Annual MBA Stock Pitch CompetitionIthaca, New York A team of three MBA students from Cornell's Johnson School defeated nine other MBA programs from around the United States for the title "Wizards of Wall Street" at the Third Annual MBA Stock Pitch Competition on Friday, April 22. The Johnson School was chosen by a panel of eight judges from Goldman Sachs, Lehman Brothers, Putnam, Fidelity, Morgan Stanley, Sanderson & Stocker, and Gabelli. During the contest, the teams were identified to the judges only by number, not by school affiliation. In the final round, the Johnson School team of Michael Albrecht, Albert Chu and Edward Zelmanovitz, recommended shorting Glamis Gold Limited (GLG), now trading at $14.77. The stock selection of the winner could be significant. In 2004, the selections of three of the four finalists appreciated between 25% and 65% in just one year. Second place went to Duke University and third place to Michigan. The winning team received $3,000. The teams included Duke University (Fuqua); UC-Berkeley (Haas); Columbia University; New York University (Stern); University of Chicago; Northwestern University (Kellogg); University of Michigan (Ross); Yale University; University of Rochester (Simon), and Cornell (Johnson). The teams began preparing on Thursday, April 21 at Cornell's Parker Center. They were given stocks to research using the latest financial tools including StockVal, FactSet, First Call and others. After conducting research all day and night, teams presented "buy" or "sell" recommendations in front of Wall Street professionals. The winners were judged on their "long" or "short" recommendation for three companies. Designed to replicate the real-world experience of asset managers working in the financial industry, the contest forces each team to vigorously defend their recommendation. For More Information |
