2016/2017 timeline
New programs are launched throughout the year, but our main schedule looks as follows:
| 2016 | Aug 15 | Research competitions launch |
| Oct 3 | 2016/2017 Trading Competition launches | |
| Oct 24 | Fall equity research screening completed; mentees contacted | |
| Nov 7 |
Data science & quant strategy screening completed; mentees contacted |
|
| 2017 | Jan 2 | Fall Half of Trading Competition ends; winners announced on the 16th |
| Feb 13 | Spring equity research screening completed; mentees contacted | |
| Mar 6 | Announcement of data science & quant strategy projects shortlisted for Demo Day | |
| Apr 3 | Trading Competition ends; Spring Half and overall winners announced on 17th | |
| Apr 27 | Data science & quant strategy Demo Day in New York |
To stay updated as program details are being announced, please sign up.
Research competitions
Independent research provides experience that will help you stand out during recruiting and can be immediately put to use at work. All of our research competitions incorporate different forms of mentorship to ensure that the research you do with us stays grounded in industry practice.
Equity research
Program participants are challenged to produce an investment thesis with clear variant views, a summary of likely catalysts, and a thorough analysis of risk.
Background
Equity research is directly applicable to jobs in fields ranging from trading to private equity. It also develops skills which can be applied to managing a small business or a personal portfolio.
Screening
All screening for this vertical is done on the basis of trade idea write-ups. We provide templates and assessment criteria at the start of each competition.
Mentorship
When hosting competitions with other firms, our mentorship typically consists of trade idea review. All competition participants are invited to submit drafts of their write-ups. Upgrade Capital staff or select buy-side analysts then provide feedback to help you polish your work.
When hosting our Ben Graham Fellowship, your initial submission is treated only as a reflection of your skill rather than as a starting point for further work. The most promising applicants are guided in groups of 4-6 through an in-depth analysis of a single name over the course of 2-3 months by a buy-side analyst or portfolio manager.
Sample research report
About the author
At the time of this competition, Simeon McMillan was a first-year student at Columbia Business School. After graduating, he worked for MSF Capital before moving on to join the Office of the CEO at Univision.
Data science
This unique program involves assessing company performance using alternative data sets like Yelp review counts and parking lot traffic.
Background
Our data science program was established in response to a growing and largely unmet need among hedge funds for analysts who can bridge big data and fundamental research.
Screening
Students with experience analysing non-traditional data are invited to email us brief summaries of their work. We usually respond within 24 hours with our assessments.
Students lacking relevant experience are given the option to complete a short assignment.
Admission can also be granted based on references from the program's alumni. Each alumnus can only provide one reference per year.
Mentorship
Once admitted, you will be granted access to proprietary datasets like web traffic histories and archives of scraped data.
You will be guided by experienced "quandamental" analysts. We will also periodically have industry thought leaders host small conference calls with top performers to give them feedback on their work.
Sample research report
About the author
Taylor Henderson graduated from Texas A&M in December 2015. He is currently working at Voss Capital in Houston, Texas.
Quant strategy
Participants build a model of the current market environment using techniques like Principal Component Analysis and then explore use-cases.
Background
While advanced quantitative modeling skills are becoming increasingly common, few traditional quants can effectively translate their models of market behavior into simple, actionable insights.
Screening
All prospective program participants are asked to complete a short assignment to demonstrate their familiarity with applied statistics.
Admission can also be granted based on references from the program's alumni. Each alumnus can only provide one reference per year.
Mentorship
Once the year's mentees have been selected, they will be split into groups of 4-6 based on their interests.
Each group will be assigned a mentor working in systematic trading, risk, or strategy and will then be guided through an in-depth research project over the course of 2-4 months.
Sample research report
About the author
Aldo Eysaman is a rising junior at Boston College.
Trading competition
Portfolio management is the ultimate test of investing ability, which is why it has been central to our work with students since our launch. Our sixth annual trading competition will start October 3rd, 2016 and will go on for six months.
This year we are proud to partner with Openfolio to allow students to compete using real-money trading accounts.
We are excited about this partnership for several reasons:
- Less effort: students already managing personal portfolios don’t have to copy over all of their trades manually.
- Bank-level security and privacy: even if you win, you will have the option to remain anonymous.
- Better benchmarking: we can assess performance versus specific sub-groups in the existing Openfolio community.
- Social layer: you can easily follow your friends’ trades – and share your own.
To ensure everyone has a chance to compete, we will award select students small allocations of seed capital.
