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In February 2025, five Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan students prevailed over participants from 26 New York Area universities to win first place in the annual New York Regional CFA (Chartered Financial Analyst) Institute Research Challenge.

Representing Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan, five business students began their quest for victory in the New York Regional 2025 CFA Institute Research Challenge -- one of more than 90+ global markets in the CFA Institute Competition series. During the first round of the high-stakes global equity competition, the team was tasked alongside 26 New York area universities to analyze a large company and present their findings to industry-expert judges.

Assuming the role of research analysts, Fowler ’25, Pushkaraj Makarand Kalkar, Sara Wentland ’26, Caleb McNaull ’25, and Matthew Molta ’25, were tested on their analytical, valuation, report writing, and presentation skills when evaluating the company's performance. The result: a stellar 40-page equity research report paper and a 160-page slide deck that culminated their work and was deemed worthy of first place by the judges. 

The student team worked alongside faculty advisor Katsiaryna Bardos, PhD, chair of the Finance Department and professor of finance at Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan.  The team also worked with Karl Mergenthaler, an industry mentor to the business students. According to Fowler, “The CFA Case Study Challenge was a competition full of long nights, hard work, and resilience.”

“Winning gave us the confidence we needed to move forward to the global rounds," said Lucy Fowler '25. "We were incredibly thankful to represent Â鶹´«Ã½ÊÓƵÍøÕ¾.”  

The students embraced the challenge and collaborated like pros to collectively apply their business expertise in the field of finance. Dr. Bardos has led strong teams to the CFA Institute Research Challenge finals twice before, but this was Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan's first regional win. 

According to Dr. Bardos, "...[the competition] is 'the Olympics of equity analysis.' What better way for students to embark on providing financial projections and valuation techniques than by partaking in this hands-on experience as part of a world-renowned competition."

The CFA Institute Research Challenge is an annual global competition that provides business students with hands-on mentoring and intensive training in financial analysis and professional ethics.

For more information on Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan's participation in global collegiate competitions such as the CFA Institute Research Challenge, check out experiential learning at Â鶹´«Ã½ÊÓƵÍøÕ¾ Dolan.

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