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University of Texas at Austin Wins Inaugural Point72 Asset Management Case CompetitionSTAMFORD, Conn. --(Business Wire)-- Point72 Asset Management L.P. (Point72) announced that a team from the University of Texas at Austin (UT) has won its inaugural Case Competition. Each team member received a $5,000 cash prize. Cornell University took second place in the competition, with each team member winning $2,000, and the University of Virginia took third place and a prize of $1,000 to each student. The winning UT team consisted of:
The Point72 Case Competition provides teams of college sophomores and juniors the opportunity to simulate the research investment professionals conduct in their daily professional lives. More than 50 teams of three students from 16 colleges researched trends in the retail market sector and offered analyses to support one long or short stock recommendation based on their research. Point72 encouragedstudents to participate via on-campus recruiting events and outreach to career services groups at colleges across the country. "We congratulate the UT team on their good work," said Point72's Managing Director of Investment Talent Development, Leslie Eisen. "We are excited to have begun this competition, which gives these students an invaluable opportunity to take what they've learned in school and apply those lessons to the kind of analytical approach used by professionals every day. "It also gives us a chance to meet the next generation of investing talent and show them what a great investment firm looks like. "We were impressed by the curiosity and energy all of the teams brought to the competition," Eisen said. "The top three teams stood out because their presentations demonstrated diligence, creativity and independent thinking - all skills that we value highly at Point72." The three finalist groups received feedback from Point72 employees designated as "team captains," and then had the chance to incorporate those suggestions into their work before presenting to a committee of judges from Point72 on November 8. "Defending your analysis is a daily part of professional life and isn't easy to do," Eisen said. "We want to help develop young talent by giving them experience they need to be great financial analysts, and I want to thank the Point72 investment professionals who served as judges and mentors in this competition." About Point72 Asset Management Point72 Asset Management is a family office managing the assets of its founder, Steven A. Cohen, and certain eligible employees. Point72 focuses primarily on discretionary long/short investing. The Firm's long/short investment divisions are Point72 Asset Management and EverPoint Asset Management, and Cubist Systematic Strategies is its quantitative division. The Firm is headquartered in Stamford, Connecticut, and maintains offices in New York, Hong Kong, Tokyo and Singapore. |
