CFA Societies Texas

 Judging Criteria

The first round of reports are graded based solely on a team's written research report. The judging criteria is below: Texas A&M fought a tough battle against 17 local university winners to take second place in the 2009 Regionals.

  • Investment Summary: max score is 20 points
  • Valuation: max score is 20 points
  • Business Description: max score is 5 points
  • Corporate Governance: max score 5 points
  • Industry Overview & Competitive Positioning: max score 15 points
  • Financial Analysis: max score 20 points
  • Investment Risks: max score 15 points

Total = 100 max points

All reports are graded on a "blind" basis (i.e. the school name does not appear on the final report).

Based upon these scores, the top ten teams are chosen to compete at the CFA Institute Research Challenge of the Southwest US finals. The finalists will orally present their investment case. Each presentation will consist of 10 minutes of presentation by the students followed by 10 minutes of Q&A by our oral panel.

The oral judging criteria is as follows:

  • Argument (Did they use data to effectively support their recommendation?): max 25 points
  • Questions (Were they able to answer questions?): max 25 points
  • Financial, Valuation, and Other Analysis: max 20 points
  • Team Involvement (Both in the presentation and in Q&A): max 15 points
  • Poise (Were they confident and convincing?): max 10 points
  • Materials (Quality of the slides): max 5 points
  • Total = 100%

The ten finalists will receive a final score equal to 50% of their written score combined with 50% of their oral score. In the event of a tie, the team with the higher oral score will be declared the winner.

We are very proud and honored to have an esteemed panel of judges for 2019-2020. These individuals are all successful leaders who have been instrumental in shaping the Texas investment landscape over many years. Our sincere thanks to these individuals for their continued contributions and support of the Southwest US Research Challenge!