A trio of MBA students from University of Texas' McCombs School of Business won the 12th annual Alpha Challenge, beating out teams from 15 other U.S. business schools for top investment management honors.
The Austin-based team of Yamel Cotero, Jonathan Evans and Ian Ricks selected one long and one short stock from a predetermined list and a wildcard stock of their own choosing, and pitched them in separate presentations in round one of judging. Seven teams advanced to the final round.
Judges picked the winning teams based on the stock pitch that “most clearly articulates an investment idea based on the presentation and research communicated” during the event, said Elise Radolf, an MBA student at University of North Carolina Kenan-Flagler Business School, Chapel Hill, (the host of the Alpha Challenge), a former Alpha Challenge winner and co-chairwoman of the 2016 contest.
The UT crew's long stock pick was gas station franchiser Casey's General Stores Inc.; their short choice was iRobot Corp., maker of Roomba Robot vacuums; and their wildcard favorite was children's clothier Carter's Inc.
Taking second- and third-place honors, respectively, were teams from Yale University's Yale School of Management and Northwestern University's Kellogg School of Management.
The Alpha Challenge also was a great way for MBA students and potential money manager employers to meet and greet, with recruitment interviews taking up most of the first day of the event followed by a big networking party.
