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CFA Society Brazil

A Member of the CFA Institute Global Network of Societies

 Insper wins Brazil IRC

Six universities participated in the 2011 CFA Institute Research Challenge of the CFA Society of Brazil: Insper, FGV- SP, FEA USP - SP, FEA USP Ribeirão Preto, IBMEC Rio de Janeiro and Mackenzie. 

See the team members  of the participating groups.

On 4th November 2011 they submitted  their research reports  on the target company, Anhanguera Educacional, to a panel of experts of the CFASB.

On 6th December 2011 the Insper team won the Brazil competition. Review Insper’s report and presentation on Anhanguera Educacional.

 Insper Team


Victor Beattie   [email protected]
Lucas Kenji Ishii   Ishii [email protected]
Gustavo Massami Tachibana   [email protected]
Andre Cimerman   [email protected]
Annibal Hafers Mendes Gonçalves   [email protected]


Gustavo  Oliveira

Faculty Advisor:

Michael Viriato  [email protected]



On 10th April 2012  Insper  participated in the Americas Regional IRC in New York City, where 44 teams from different CFA societies presented their research work. The Americas competition was won by the team from the Illinois Institute of Technology, which represented the CFA Society of Chicago.

On 11th April  2012  the Global  IRC Final was also held in New York city. The winner was the team from Thammasat University, which represented the CFA Society of Thailand.

We would like to thank all volunteers who collaborated in this CFASB initiative.

 Challenge History

14/09/2011  Launch of the 4th Investment Research Contest of CFASB. 
20/09/2011  Presentation about "How to write a research report", by the society member Sonia Villalobos, CFA 
23/09/2011  Target company announcement: Anhanguera Educacional. 
28/09/2011  Anhanguera Educacional presentation 
04/11/2011  Submission of research reports to CFASB 
22/11/2011  Announcement of finalist groups 
06/12/2011  Presentation of finalists to panel of experts
Cocktail and announcement of winners 


If you have any question, please contact us: [email protected]