Investment Management Initiative | Rosenwald Investment Competition

Submissions can involve any aspect of global public equity and fixed income asset classes. However, performance will be assessed in USD terms, requiring students to account for any currency risk in global positions. Submissions may not involve short positions nor the use of derivatives. Submissions can include any publicly traded ETF, including short ETFs. However, these have certain risk characteristics that should be addressed in the pitch.

Submissions can include any of a variety of investment styles:

• Fundamental equity analysis (i.e., traditional stock picking)
• Global macro
• Fixed income
• Systematic or data driven investments (in any publicly traded asset class)
• Cross-asset ideas

Regardless of the asset class or investment style, successful submissions will have some version of the following components:

• Clear and concise trade idea or investment strategy
• Detailed investment thesis including (as relevant) valuation, likely catalysts, historical analysis and/or backtesting, and macroeconomic considerations
• Analysis and discussion of risks and returns, including likely holding period, relevant price targets, downside risk, and stop-losses
• Any necessary institutional details, particularly for esoteric assets and/or those traded outside the US, which the judges may be less familiar with

Any submission that is judged to not meet the rules outlined above will be disqualified. While these rules are meant to be comprehensive and self-explanatory, we recognize that there may be edge cases. We will not pass judgement in advance on the acceptability of any submission. Please do not send any emails to faculty or administrators asking about your submission. Students are free to include a section outlining why their submission meets the requirements of the competition. However, we note that most submissions will obviously meet the requirements (and thus should not include any commentary along these lines).