Round 2 Wrap-Up

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Congratulations to all participants in Saturday’s world-class Round 2 challenge of Modeloff 2012.

“It wasn’t an easiest day at the office – but it was super exciting” remarked one competitor. Round 2 was ever more time-intensive and multi-dimensional than Round 1 – exploring case studies that ranged from Major Acquisitions, Capital Expenditure, Fixing/Auditing Errors in Financial Models and Advanced Excel/Monte Carlo analysis. The online test ran for 135 minutes (2 hours and 15 mins).

Performance Comments

  • Outstanding performances from most of the Top 10 performers from Round 1. Strong impressive correlation between Round 1 and Round 2 – suggestive that the superstars bought their A-Game again!
  • Highest scores was 68/85 – Average score of 50/85 marks for Top 50 Participants.
  • Students performed terrifically by taking 25 of the Top 100 positions in Round 2 (almost identical split between Under-Graduate and Post-Graduate).
  • Within the Top 16 – There were 8 participants with titles of “Analyst” and 4 participants with titles “Manager/Vice President”.
  • Round 2 Top Firms – Goldman Sachs, EY, PWC, Modelcom.
  • Round 2 Top Universities – Chicago Booth, University of Western Ontario, University of Toronto, Stanford.

Section by Section

  • Acquisition Case Study – A detailed, time-challenging question. Generally well done and attempted by most participants. Favoured those with strong Finance backgrounds.
  • Capital Expenditure – The waterfall question required some “out-of-the-box” thinking.
  • “Find the Error” – Arguably the highlight question from Round 2. Challenging since it was designed to emphasise technically formulae reviews and acute commercially-minded thinking – not just favouring those that can effectively build financial models. Participants managing to progressed through early stage questions generally performed well in later sections.
  • Advanced Excel – A small and elegant question requiring an understanding of Monte Carlo analysis. Not surprisingly, many participants with Corporate Finance/Banking backgrounds found this question difficult – probably because it’s not heavily covered in everyday commercial applications and classical Financial Modelling training curricula. Industry and heavy quantitative expertise (e.g. Energy, Infrastructure) performed strongest. Since it was the last question of Round 2, it was not completed successfully by many participants (e.g. lacking time).

We hope you enjoyed the technical, commercial and innovative challenges of Round 2. We very much looking forward to continuing the celebration in four weeks in New York when we will find inaugural 2012 Modeloff Financial Modelling World Champion.

Results and the New York Finalists will be announced soon.

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24 – Durva Raval

23 – Marc Schneider

22 – Brigitte Myers

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