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Midpoint Review

21 Dec 2011 to 18 Jan 2012


Since the start of this competition, there has been both good and bad news. The unemployment rate in the US, surprisingly, declined sharper than expected (but does anyone care about such statistics anymore?). On the other hand, many eurozone countries saw their credit ratings graded down from pristine AAAs (does S&P have any credibility these days?). For active (and expert) investors, news whether good or bad presents an opportunity. Despite the intervening holiday season, the past month was a good time to prove ones credentials as a truly global investor. Gutsy fundamentals-based contrarian investors would probably have gushed at US financials that traded at 50-60% their book value, and the quant types or those who stick with the saying markets can remain irrational longer than you and I can remain solvent would probably have looked for momentum-based signals. The 135 teams participating in the contest chose diverse strategies, from very active to very passive, and very bullish to very bearish, to beat competition. We present below the top teams and their performance so far. Well done, to each of these teams! Even though this is not an environment for a big stock market rally (shares look attractive only when compared with artificially depressed Treasury yields), the top teams have displayed a keen eye and picked winners over the past month. Needless to say, their performance during the previous month is no guarantee of solid performance over the remainder of the competition. Rankings could change, and change fast. Those not on this top performers list as yet have to decide whether they still have confidence in their investment strategies and the stamina to hold on, or whether they wish to change course midstream.

Rank 1 2 3 4 5 6

Team Name junkstocks MaryJane ifmrbuds Chargers Fin Devils shubkarman

Institution Name IIM Calcutta IFMR, Chennai IFMR, Chennai IFMR, Chennai Symbiosis Institute of Management Studies IIM Calcutta

Sharpe Ratio 16.5172 15.6849 14.0560 11.4672 11.4494 9.6172

Rank 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Team Name SIMS2013 FINest Hedgers Seths Sparks meta trader Mavericks Goodfellas bsemastro Greed & Fear bmng Leader Hackers zalzala

Institution Name Symbiosis Institute of Management Studies IIM Calcutta Indus Business Academy IIM Calcutta LIBA BIM Trichy LIBA IIM Calcutta Amrita School of Business ICFAI Tripura Symbiosis Institute of Management Studies Amrita School of Business Indus Business Academy Symbiosis Institute of Management Studies

Sharpe Ratio 9.3589 8.9549 8.5059 8.2064 7.6111 7.2123 6.9361 6.0894 5.7797 5.6962 5.5015 5.4279 5.3023 5.2192

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