LSBE’s team of Luke Persons (captain), Riley Erkenbrack, Jack Ferry, Damien Grotte, and Tyler McGillivray was one of the top six teams out of 700+ that began the competition in the Western Hemisphere and one of sixteen teams out of 1300+ to advance globally.
They competed against the teams from Babson College (Boston), State University of New York (SUNY) at Albany (New York), Fundacao Getulio Vargas San Paulo (Brazil), the University of Denver (Colorado), and the University of Waterloo (Toronto).
All teams throughout the competition conducted extensive financial analysis on a number of subject companies assigned by their respective local competitions. The team from LSBE advanced from the Upper Midwest local through the US Midwest Region to the Americas’ Region Semi-final and Region Final defending their recommendation on Polaris Industries (PII), a leading manufacturer of power sports vehicles based in Medina, Minnesota. They conducted a ten-minute presentation which was followed by 10 minutes of questions and answers before CFA judges at each level.
Unfortunately, LSBE’s team did not earn one of two spots to advance to the global competition in Warsaw, Poland, taking place in May. The teams from Fundacao Getulio Vargas San Paulo (Brazil) and the University of Waterloo (Toronto) advanced.
“Our team delivered a rock-solid presentation and defense today but came up short in the eyes of the judges,” said Joe Artim, director of the LSBE Financial Markets Program and the team's faculty mentor.
“Although this is deeply disappointing for our team at this moment, the team is truly grateful for the learning experience and the challenge it presented for them to be better people in so many ways!”
"I am very happy for our team and their accomplishment.”
Student Quotes
Luke Persons, Captain
Incoming Equity Research Associate at Craig-Hallum Capital Group
"The CFA competition was a fantastic learning experience that has prepared me for my career after college. Seeing the hours of hard work translate into so much success was the most rewarding part of my time at UMD. I greatly appreciate the resources made available to us through the Financial Markets Program, along with the opportunity to represent my school proudly in a great competition."
Riley Erkenbrack
Incoming Investment Analyst – University of Minnesota Foundation
“The CFA Research Challenge provided me with a real-world platform to stack up the collective knowledge we’ve gained in the Financial Markets Program against hundreds of other universities around the world. I found the rigorous analysis and preparation required to succeed in the competition intellectually stimulating and rewarding. I’m most proud of the dedication, commitment, and rigor through which our team conducted research and am most appreciative of the mentorship received from our professor, Mr. Joe Artim, and industry mentor, Mr. Frank Takkinen.”
Jack Ferry
Incoming Analyst – Dooley’s Petroleum Company
“I enjoyed the aspect of hands-on learning and sharing our findings through competition with industry professionals. The most rewarding portion was winning our competitions due to the amount of time and work we put in. I appreciate the amount I learned from this experience such as equity research, teamwork, and presentation skills.”
Damien Grotte
Incoming Equity Research Analyst - Cleveland Research Company
"The CFA Research Challenge was an unbelievable learning experience add-on within the Financial Markets Program, and I would highly recommend it to any upcoming members. The Research Challenge amplified my research skills, enhanced my presentation abilities, and allowed me to compete within a highly competitive industry and thrive. It has really exemplified what it takes to become an excellent equity research analyst, and I deeply valued this opportunity that I was given to learn, brainstorm, and compete. My four teammates and I worked countless hours together, forming a bond within us that I will never forget. Lastly, I would really like to take this time to thank my mentor and instructor Joe Artim, our industry mentor Frank Takkinen (a UMD Alumni), and my friends and family for supporting me throughout this whole process."
Tyler McGillivray
Incoming Equity Research Analyst - Cleveland Research Company
"In the CFA Research competition, I found a platform to transform knowledge into actionable insights that go far beyond the walls of the classroom. What I cherished most was the opportunity to delve into a real-world challenge, navigate complexities with my team, and truly bring out my competitive spirit. This experience underscored the profound value of teamwork, research rigor, and the relentless pursuit of excellence that I strive for every day. Reflecting back on the competition, although it was heartbreaking not competing on the global stage, placing in the top 16 in the world out of over 1,300 undergrad and masters programs is something I will always be proud of. I'd like to thank everyone involved including industry mentors, teammates, and family for their unconditional support over the last six months."
Photo - (left to right) Frank Takkinen (industry mentor) Riley Erkenbrack, Damien Grotte, Luke Persons (team captain), Jake Ferry, Tyler McGillivray, Joe Artim (Financial Markets Program director and Finance instructor)