The UP Junior Finance Association (UPJFA), a SharePHIL sponsored school organization, held its annual Intercollegiate Valuation and Strategies Competition (INVST) on 16 December 2017 at Shakeys, Magallanes, Makati City.
The UPJFA INVST competition pits teams from various schools to determine which one can best present a valuation pitch for a specific listed stock. The competition simulates an investment consulting group pitching to a panel of investment managers. The judges were composed of noted investment professionals such as Dante Tinga, Jr. BDO Nomura Research Head, Giovanna Vera, Investor Relations Head of Shakey's, Peter Chua, CFA VP-Academic Relations and Prof. Ben Teehankee, Research Committee Chair of SharePHIL.
For this year's event, teams prepared valuation studies on the share price for Shakey's Pizza Asia Ventures, Inc. (PIZZA) and presented recommendations on its prospect as an investment. The panelists grilled the student competitors on their application of models for valuing share price and the appropriateness of their analysis based on finacial, operational and market data. As a representative of SharePHIL, Prof. Teehankee focused on the prospects for PIZZA for retail investors, the company's ability to consider the rights of minority shareholders and the quality of the company's corporate governance. The students gamely responded to these questions although they admitted that this was the first time they were asked such questions. The organizers expressed appreciation to SharePHIL for bringing these considerations into their consciousness. They committed to include these in their training seminars for future competitions.
The winning team was INVST the grams composed of Ava Lee, Justin Gregorio and Demi Laygo from the University of the Philippines.
-- by Benito L. Teehankee
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