Hi CFA Society Vermont,
What a Month it has been! Within the last month, CFA Society Vermont hosted Paul Willen from the Fed, launched the CFA Research Challenge in Vermont, and held the company presentation with Casella Waste Systems. In the next month, there is an interesting live stream hosted by CFA Society New York on the future equity risk premium, and two Vermont university teams are headed to Las Vegas to compete in the Microsoft Excel Collegiate Challenge. Please see below for more information about all of these great happenings!
Recent Events
Paul Willen, principal economist and policy advisor in the Federal Reserve Bank of Boston Research Department, presented on the national economic outlook at our Annual General Meeting on October 7th at the Burlington Country Club.
We launched the CFA Research Challenge in Vermont for 2025-2026 announcing that Casella Waste Systems (NASDAQ: CWST) is the subject company this year. In the competition, student teams analyze a public company, are mentored by finance industry professionals, write an equity research report on an assigned company, and present their report to a panel of industry experts and leaders. We are very grateful to Casella, our industry and faculty mentors, graders, judges, and all of the members of CFA Society Vermont who make this educational opportunity possible for the next generation of finance professionals in Vermont! The winner of the Vermont Challenge advances to compete against teams in the Americas Subregional, and then if successful the Americas Semifinals and Finals and then the Global Finals in Hong Kong in May 2026.
Brian Butler, Vice President of Investor Relations at Casella Waste Systems, provided an investor presentation for the CFA Research Challenge in Vermont at Leunig’s Bistro on November 6th. Teams from Champlain College, Norwich University and Saint Michael’s College were in attendance together with investment professionals from CFA Society Vermont.
Upcoming Events
On Thursday November 13, 2025, CFA Society New York and CFA Institute Research and Policy Center are hosting a half day event of Investment Icons Debate the Equity Risk Premium from 12:30pm-7pm. These experts will share their insights as to why they expect the equity risk premium will be lower in the coming century than it was over the last one. Livestream access can be purchased for $40 for members and $80 for nonmembers. More information is available at:
https://cfany.org/event/anniversary-celebration-investment-luminaries-debate-the-equity-risk-premium/
Local Universities to Compete in Microsoft Excel Collegiate Challenge in Las Vegas
Two Vermont teams have qualified and will compete in the Microsoft Excel Collegiate Challenge in Las Vegas in December 2025. Teams from Champlain College and Norwich University are among the 17 teams from Australia, Colombia, India, Madagascar, South Africa and the United States that have already qualified for the semifinals on December 2.
More information about the finals is available at https://mecc.college/finals-2025/
Looking forward to seeing you at a CFA Society Vermont Event soon!
Best Regards,
Fritz