2021沃顿商赛WGHS（原KWHS）投资案例公开，4-7人开始全球组队

2021年7月30日 沃顿商业投资挑战赛The Wharton Global High School Investment Competition，简称WGHS（原KWHS）开放报名

KWHS是一项全球性完全免费的在线商业学术活动，面对全球9-12年级的中学生开放，考验学生的合作能力，沟通能力，以及其面对风险的时候是否可以做到多样性的投资，考验学生对公司和行业的了解。KWHS 被普遍认为是目前全球最高等级高中生投资类权威比赛，含金量非常高，参赛者可以和全球精英高中生同台竞技，获得好的成绩可为名校申请加分不少。*比赛时间2021年9月27日——2021年12月13日*适合对象全球9-12年级（14-18岁）对商科、股票投资、投资策略组合、团队合作等感兴趣的均可报名参加，4-7人组队参赛，全球范围内、不同学校学生均可组队。

*比赛流程现在-9月18日：团队注册报名9-12月：在线模拟投资11月1日：提交中期报告12月13日：提交终期报告次年1月：宣布决赛入围者次年4月：全球总决赛

*比赛内容4-7人为一个团队参赛，比赛会通过沃顿OTIS模拟平台进行，团队通过管理100,000美金虚拟货币，与其他团队竞争，时长为10周。OTIS线上平台同步于全球股市，实时更新。大赛共计11种类别，约400支股票，其中以美股为主。

# 2021 #案例分析CaseStudy

You can’t build an effective investment strategy without first knowing your client…Meet Nichole Jordan!CASE STUDY:You are an analyst team of recent college graduates, working at an up-and-coming asset management company, Wharton Global Asset Management (WGAM). The firm currently manages a $100,000,000 portfolio that is invested across several different sectors, representing a broad range of industries and companies. The members of your team hope to one day become portfolio managers who make the final investment decisions for WGAM’s portfolio.WGAM’s current portfolio manager (your team’s teacher/advisor) recently met with a potential client, Nichole Jordan, who lives in San Francisco. Nichole is the Senior Vice President, Global Partner Success atVia, a TransitTech company that provides the digital infrastructure for public mobility systems, optimizing networks of shuttles, buses, wheelchair-accessible vehicles, school buses, and autonomous vehicles to meet the needs of large cities and smaller communities around the world.On March 8, 2021, Via acquired Remix Software, Nichole’s previous company, in a $100-million cash and equity deal. At Remix, she was the Chief Operating Officer. She was responsible for managing global sales, customer success, finance, and people operations, as well as maintaining executive account relationships and ensuring customer satisfaction.Nichole has a B.S. in Civil Engineering from U.C. Davis and an MBA from the University of Pennsylvania’s Wharton School. She was the first African-American female to matriculate in the Wharton West Executive MBA program.“The Wharton Executive MBA program was invaluable to my career journey and equally beneficial for my personal and professional lives. My classmates were phenomenal and the professors were the best of the best. It challenged me in ways that I didn’t expect and I developed friendships that have lasted for more than 15 years.”Nichole enjoys spending her free time with her family, traveling, wine tasting, and reading. She is a dedicated Peloton member and also loves doing yoga.Nichole is an active volunteer, a leader for several non-profit entities, and is passionate about mentoring women of color. She is currently the International Technology Chairman for Alpha Kappa Alpha Sorority, the first sorority founded by African-American women. She has also served as an executive mentor for Sequoia Capital’s Ascent Mentoring program, designed to support emerging women leaders in tech.“What drives me is opening doors or creating opportunities for others like me. I had to figure a lot out in life on my own, but I also had strong mentors along the way that helped me become who I am. I want to serve as that person for others.”— Nichole JordanStarting in 2022, Nichole would like to provide a small scholarship of $5,000 per year to a woman of color studying engineering at her alma mater, U.C. Davis. Nichole needs your help determining how best to fund this, as she wants to be able to offer the scholarship for at least 10 years. Should she keep $50,000 in cash? Should she invest in stocks that pay dividends? Another option? Nichole wants to hear your plan for funding the scholarship. (Please see thePlacing TradesandRulespages for more information about how to invest in stocks and bonds.)Nichole also loves being an aunt to her six young nieces and nephews. She wants to ensure that she can help build generational wealth for them and contribute to their educational expenses, including college tuition. She specifically mentioned to your portfolio manager, “I feel very strongly about having them as part of my long-term financial plan.”Nichole has $100,000 she wants WGAM to manage in order to achieve these two financial goals. She has set aside additional money for her other financial goals, including retirement, so WGAM does not need to focus on Nichole’s other financial goals.Nichole told the portfolio manager that WGAM has 10 weeks to put together a detailed portfolio analysis proposal. Your portfolio manager recognizes that it will not be easy to land Nichole as a client. To make the most convincing case to Nichole, everyone on the team must contribute to ensure that WGAM creates the best proposal.Over the next 10 weeks, your team will develop and test an investment strategy to meet Nichole’s two financial goals. Your team will conduct a thorough analysis of industries and companies, with the goal of ensuring both long-term and a small amount of mid-term profitability for your prospective client. You will test your investment strategy using the Wharton Investment Simulator (WInS). And remember, WInS can only accurately assess the performance of investments that are made for the short-term. So, while you should test your strategy and build your stock portfolio on WInS, the majority of your investments should be long-term and therefore won’t require excessive buying and selling of stocks.However, your strategy might include guidelines for certain factors that could influence your decision to sell, even in the short-term. On WInS, you will be getting some portfolio-management experience.Your team will start out with a portfolio of $100,000 in virtual cash and will compete against other student teams from all over the world. At the end of the 10 weeks of active trading, you will be required to submit a proposal detailing your recommended investment strategy. Judges will review your final investment report and select top teams. Those teams will be invited to present their strategies to a panel of experts.* Teams are not permitted to contact Nichole Jordan, members of her family, Via, or anyone else mentioned in this case study. The investment scenarios included in this case study have been embellished for the purpose of the competition.

*比赛规则在为期10周的时间内，进行模拟股票交易, 制定并调整小组交易策略，完成中期报告(Mid-Project Team Review)，并根据策略进行交易，最后完成最终交易策略报告(Final Strategy)并陈述理由。最终报告中，行业分析需要包含：Porter's Five Forces Model、Relative Value Ratios分析；股票基本面分析需要包含财务报表分析、财务状况分析及SWOT分析。

*评审规则对于优胜者的评定，评审的重点并不在投资增长的结果上，而是这个小组投资策略的综合表现。KWHS学术活动并不是单纯地以盈亏情况来评估有效成绩的，而是通过审核每支队伍的投资策略报告是否科学有效来评选优胜者。排名靠前的优秀小组需面对评审做演讲详细介绍自己的策略。这些优秀的小组及个人有机会获得沃顿官方奖杯、证书，其中每个赛区将产生三个团队参加KWHS全球总决赛，与来自世界各地的选手角逐最终的奖项。

*比赛奖项全球TOP50决赛入围者全球总决赛获胜者KWHS沃顿商赛参赛证书*学习流程第一阶段：赛前培训9月前，历年得奖导师辅导学生完成基础知识与学术活动模式的学习与补充；

第二阶段：预赛冲刺9月-12月，每周进行小组会议讨论，根据团队定好的投资策略组合，通过在线商业模拟投资，在导师的帮助下完成两份投资报告；

第三阶段：备赛决赛1月-4月，学习准备面试答辩内容，导师团队实战模拟面试学员团队，助力决赛获奖。*学习收获1、学习了解风险、多元化、公司分析、行业分析和股票投资等金融基础；2、通过实践，提升团队合作、领导力和沟通技巧等能力；

3、提升应用批判性思维和阅读技能；

4、有机会获得沃顿教授、华尔街投行高管导师签发的推荐信，为留学申请增添光彩；

5、获得KWHS沃顿商赛参赛证书。

*学习内容- KWHS沃顿投资大赛概览及经典策略分析- 金融市场导论- 公司分析、行业分析- 财务报表：1、财务报表 2、比率分析- 前瞻性分析&相对价值分析- Middle-term Review & Case Analysis- ESG分析- 资产组合管理- 金融行业职业道德- 常见金融估值模型- 投资策略设计方法- 学术活动实操指导- 投资策略发展和执行- 中期报告写作指导及审阅- 最终策略报告写作指导及审阅- 赛前沟通表达、公众演讲及团队协作、领导力培训等- 模拟演讲环节。

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