NEW YORK, NY -- (Marketwired) -- 08/30/13 -- SumZero, Inc. and The Value Investing Congress today announced the three winners in their annual competition designed to test the research skills of analysts at hedge funds, mutual funds, and private equity funds around the world. The 2nd Value Investing Challenge, a partnership between SumZero and the Value Investing Congress, was exclusively sponsored this year by FactSet, Inc.
The 3 winners for 2013 are Daniel Lawrence of Elmrox Investment Group in New York City for his long recommendation of Ashland, Travis Cocke of Southpaw Capital in Houston, Texas for his short recommendation of Exact Sciences, and David Swartz of Pacific West Land in Bainbridge, Washington for his short recommendation of LifeLock. All 3 winning PDF reports as well as the complete list of the 20 Finalists in this year's contest are available for free download at valueinvestingchallenge.com.
The 3 winners are in the running to win final cash prizes of $50,000, $10,000, and $5,000, respectively, as well as a speaking slot at the 9th Annual New York Value Investing Congress, and licenses to FactSet's Workstation. The name of the grand prize winner will be disclosed publicly for the first time at the Congress in New York on September 17th where the grand prize winner will deliver a presentation of his winning research.
This year's contest received more than 200 unique entries, nearly double the total of 110 from the contest's first year in 2012. Entries were collected from funds across the world, including firms in the US, UK, Canada, India, Italy, China, Hong Kong, Singapore, Switzerland, South Korea, and Poland. Participants included analysts and portfolio managers from numerous large funds within the US.
Judges for this year's contest were respected value investors from firms across the world. They include:
•Alexander Roepers, Atlantic Investment Management •Jamie Mendola, Scout Capital Management •Lisa Rapuano, Lane Five Capital Management •Manny Singh, Tiger Management •Mohnish Pabrai, Pabrai Investment Funds •Whitney Tilson, Kase Capital •Zeke Ashton, Centaur Capital
Contestants were asked to contribute an investment write-up covering a company of at least $500 million in market capitalization. Eligible contest participants were required to be current members of the SumZero community and had to be actively employed at a hedge fund, mutual fund or private equity fund. Judges were instructed to select winners based on the following criteria: a. Validity of the Thesis, b. Strength of the Supporting Argument, c. Feasibility of the Trade, d. Originality.
The 2012 grand prize winner of the Value Investing Challenge, Ryan Fusaro (LionEye Capital Management), was given the opportunity to pitch his long recommendation on Jack-in-the-Box last year at the 8th Annual New York Value Investing Congress. Since his initial recommendation, the stock is up over 52%. Fusaro was subsequently named to Forbes Magazine's annual 30-Under-30 List of up and coming financial professionals for his strong work in the contest. Media coverage from last year's contest included CNBC, the Financial Times, Business Insider, and numerous financial blogs.
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