Dodge & Cox Stock Pitch Competition

WITG is hosting a stock competition with Dodge & Cox Funds. First round submissions are due March 6, 2019 at 11:59PM, Final Round Submissions will be due on March 27, 2019 and Final Presentations will be on April 1, 2019 from 6-9PM. The company presentation and information session will be on April 2, 2019 from 7-8PM. 

The purpose of the competition is to foster appreciation for long-term investing in public equities. For more information, visit: https://dodgeandcox.com/wharton/


Overview

Teams of up to four students should select an equity security that they believe has the greatest potential for price appreciation over the next three-to-five years. The company can be domiciled anywhere around the world, but must have a market capitalization of at least US$3 billion. Use discretion around special situations such as emerging market companies without current English financials or short-term trading ideas, but feel free to consider growth companies with reasonable valuations.

Teams will be judged on their quality of research and analysis, presentation skills, investment judgment, and diversity of perspective.

Prizes

Finalist teams will have the opportunity to present their work to and receive feedback from Dodge & Cox investment professionals. Each member of the three finalist teams graduating during the 2020-2021 academic school year will receive the opportunity to interview for a summer internship position at Dodge & Cox. The winning teams will share a cash prize of $2,000. In addition, all finalist teams will be invited to a post-competition dinner with the judges.


Participation

Open to freshmen, sophomores, and juniors with a strong interest in public equity investing.

Registration

Teams should designate a Team Captain as a primary contact. Register by sending your team name, the names, email addresses, and resumes of all participants, and the mobile phone number of the Team Captain to ug_case@dodgeandcox.com. Please make the subject line of the email "[Wharton] Your_Team_Name Registration".


First Round Guidelines

Prepare a two-page summary in PDF format of your thesis, analysis, and a preliminary investment recommendation. The summary should be analytic/predictive rather than descriptive. Feel free to use bullet points whenever appropriate.

WHAT WE ARE LOOKING FOR

  1. Summary of the investment thesis and recommendation

  2. Clear understanding of the business model and industry dynamics

  3. Key drivers of future profitability with supporting analysis

  4. Framework for assessing valuation over a three-to-five year time horizon

  5. Next steps for further analyses that you would do to either strengthen or refute your thesis

SAMPLE FORMAT (USE WITH DISCRETION)

  • Brief statement of thesis and recommendation

  • 1/3 page overview of the business and industry

  • 1 page analysis of key profitability drivers

  • 1/3 page valuation analysis

  • Brief statement of next steps

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