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Broyhill Fellows team wins regional research challenge

BOONE, N.C.—For the sixth year running, a team of students from Appalachian State University’s Walker College of Business has won the regional CFA Institute Research Challenge, sponsored by CFA Society North Carolina (Chartered Financial Analysts).

View larger imageThe team members, from left, are undergraduates Mac Shelton, Charles Plummer, Hollie Brown, John Mosser and Jarrett Jacumin. Photo Credit: Sabrina Cheves

The team members are undergraduates Mac Shelton of Cary, Charles Plummer of Waxhaw, Hollie Brown of Davidson, John Mosser of Cary and Jarrett Jacumin of Raleigh. They will travel to Seattle in April to compete in the CFA Institute Research Challenge Americas Regional competition. The students are all finance and banking majors at Appalachian.

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis. Students work in teams to research and analyze a publicly traded company.

This year’s competition focused on Highwoods Properties (HIW), which is headquartered in Raleigh. Students from each participating university conducted a thorough analysis of the company and wrote a detailed security analysis report with a “BUY, SELL or HOLD” recommendation, according to Delbert Goff, chair of Appalachian’s Department of Finance, Banking and Insurance.

The reports were graded by CFA professionals. The three best teams, based on the report grade, were invited to present their analysis in the North Carolina finals, which were held Feb. 25 at UNC-Greensboro. Appalachian was selected the winning team based on the report grade and the team presentation grade.

Also competing in the state regional finals were teams from Elon University and UNC Wilmington. Student teams from Appalachian have won seven of the nine years that the competition has been held in North Carolina and Appalachian is the only university in the state to have a team in the finals in all nine years.

“In addition to the solid classroom preparation our finance and banking majors receive, each year our CFA Institute Research Challenge receives invaluable input from CFA mentor Chris Pavese, which helps them prepare for the competition,” Goff said. Pavese is chief investment officer at Broyhill Asset Management.

The CFA Institute Research Challenge competition began in 2002 and was hosted by the New York Society of Security Analysts. It involved just five teams from the New York area. Since then, the competition has grown to engage tens of thousands of students from over 800 universities in more than 55 countries.

About the Walker College of Business

The Walker College of Business at Appalachian State University delivers transformational educational experiences that prepare and inspire students to be ethical, innovative and engaged business leaders who positively impact our community, both locally and globally. The college places emphasis on international experiences, sustainable business practices, entrepreneurial programs and real-world applications with industry. Enrolling approximately 2,800 undergraduates in nine majors and nearly 150 graduate students, the Walker College is accredited by AACSB International – the premier global accrediting body for schools of business.

About Appalachian

Appalachian State University, in North Carolina’s Blue Ridge Mountains, prepares students to lead purposeful lives as global citizens who understand and engage their responsibilities in creating a sustainable future for all. The transformational Appalachian experience promotes a spirit of inclusion that brings people together in inspiring ways to acquire and create knowledge, to grow holistically, to act with passion and determination, and embrace diversity and difference. As one of 17 campuses in the University of North Carolina system, Appalachian enrolls about 18,000 students, has a low student-to-faculty ratio and offers more than 150 undergraduate and graduate majors.

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