Baruch College Students Win First Place in LIBOR Stock Pitch Competition
NEW YORK, NY- April 9, 2014 – Baruch College students demonstrated their finance skills on April 5, 2014, when they competed in the 2nd Annual LIBOR Stock Pitch Competition. Baruch’s four-student team won first place in the competition, earning a $1,000 prize.
The event was hosted by Little Investment Bankers of Rutgers (LIBOR), Rutgers University’s student-run finance organization that focuses on preparing students for careers in the financial services industry. There were 19 students representing five universities from across the United States. Each college team picked stocks that have a market capitalization of greater than $500 million and that are currently listed on the NASDAQ, NYSE, or NYSE Amex (no OCTCBB or PinkSheet).
This year’s theme, “Who Is the Biggest Bear,” focused on a full day of competition where each team had up to 10 minutes to make their presentations followed by a Q & A from a panel of judges comprised of two senior professionals and two junior professionals in the finance industry. In the final round, the top three teams had 15 minutes to make their presentations followed by a Q & A session with a panel of four judges comprised of senior level professionals in the finance industry. The first place team received a prize of $1,000 and the runner-up received $500.
Members of Baruch’s team include: Tamjid Chowdhury, a junior statistics and quantitative modeling major, Amarnath Kapoor, junior finance major; Omair Marghoob, junior finance major; and Chowdhury Sanjil, senior finance major.
All of the members of the winning team belong to the Investment Management Group (IMG), a Baruch student organization that formed in 2010 to manage a simulated (mock) portfolio of financial products. In fall 2013, the IMG was given $250,000 from the Baruch College Fund to hone their financial skills and invest in the stock market. Cory Evans, a professor in the Philosophy Department, is the club advisor.
“It always feels great to win any competition, however, this was a special one since we won against some of the top universities across the nation,” Chowdhury said. “By getting involved in IMG, I explored a different dimension of college life apart from academics. It allowed me to learn and exercise real-life skills, such as communication, leadership, teamwork, and management.”
“This was my first time at the competition and I truly enjoyed it,” Amarnath said. “I felt happy knowing that the other schools are well aware of the talent that Baruch has. IMG has really helped me gain a better understanding of finance - something that you cannot learn inside classes.”
Dillon Lounsbury, senior Entrepreneurship major, is the CEO of IMG and helped the team prepare for the competition. He said winning was a great experience, but being invited to compete was an honor in itself.
“IMG is glad we could bring more recognition to the school. It's important for people to know we have a lot of hard-working, driven students with immense talent here at Baruch,” he said. “The toughest part of the competition was coming up with the stock pitch, or the short. The nature of going short is more complicated than going long. You have to choose from hundreds upon hundreds of stocks, and the reason the Baruch team was successful is because they know the industry very well.”
Dillon said IMG members have improved their finance knowledge and skills with Baruch’s curriculum and by practicing with the club. Dillon and the team’s members have attained career opportunities because of their experience. Dillon will be working with GE Capital once he graduates in May. Tamjid will be working with Credit Suisse in summer 2014. During the summer of 2013 Amarnath worked at ICICI Bank in India. Omair is currently working with ValufinderGroup, and Chowdhury will begin working with GoldPoint Partners after he graduates in May.
“We are grateful for the experience and academics that we have received at Baruch,” Dillon said. “We can not only do well in competitions, but in the corporate world also.”
About Baruch College:
Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.