The one-year financial forecasts made by finance students from Thompson Rivers University have proven more accurate than those of the professionals, it was revealed at the recent Chartered Financial Analyst (CFA) Forecast Dinner in Kelowna.
One year ago over 200 investment professionals, their clients and TRU students predicted the January 2008 position of the Canadian dollar, the SP/TSX300, the SP500, the price of crude oil, and a ‘stock to watch’ in a ‘long’ and ‘short’ position.
At the Forecast dinner last Tuesday, the results showed students from the TRU School of Business and Economics to be more accurate in their forecasts than the pros. Undergraduate finance major Emma Blencowe accurately projected the Canadian dollar would be at par with the U.S. dollar. Graduate student Frank LaTorre “beat the pros” with an estimate within 0.5% of the value of the Toronto Stock Exchange. Blencowe also had given the best single ‘long’ stock position.
Emma Blencowe
Also at the CFA Forecast, TRU finance major student Jason Buttuls presented his rationale for economic outcomes by January 2009. Buttul’s forecast will be matched against those of two leading investment advisors, one whom manages portfolios in excess of $1 billion. Interestingly, while industry forecasters saw little ‘good news’ for investors in 2008, Buttal’s data and research findings for a more ‘bullish’ 2008 had senior fund managers taking notes on his logic and recommendations.
The CFA Kelowna Chapter Forecast dinner attracts more than 200 attendees annually. Proceeds from the event are used to support finance education initiatives at the three universities in the Thompson-Okanagan region, Thompson Rivers University, Okanagan College and UBC Okanagan. The CFA Institute based in Charlottesville, Virginia, also provides 20 entrance scholarships for students from the area interested in pursuing the CFA designation.
Contact: Dan Thompson, School of Business and Economics,
250-828-5078, dthompson@tru.ca,
Josh Keller, Director of Marketing and Communications
250-828-5008, jkeller@tru.ca
