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tudents
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ompete
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quity
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esearch
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ompetition
USD’s Department of Finance recently partnered with
Wells Fargo EFS to sponsor the inaugural USD-Wells
Fargo Student Equity Research Competition.
Thanks to a donation from Wells Fargo EFS, 11
students were able to compete and gain investment analysis
and valuation experience. The research presentations were
held in April and included a 10-page research report and
20-
minute presentation from the students.
The 11 students formed four teams to analyze four
different publicly traded for-profit education firms:
Capella University, DeVry University, ITT Educational
Services and Strayer Education.
Angeline Lavin, Ph.D., a finance faculty member
involved with organizing the competition, believes this
is the beginning of a beneficial partnership between
USD and Wells Fargo EFS. “The students who
participated had the opportunity to hone their analysis
skills and network with USD alums who are successful
professionals in the financial services and investment
industry,” she said. “We are already making plans for
the 2013 competition and hope to encourage even
more students to take advantage of this outstanding
opportunity to gain real-world experience during their
college careers.”
Coming out on top of the competition was the
Strayer Education team, made up of Rebecca Duncan of
Brandon, S.D., a senior accounting major; Logan Nord
of Harrisburg, S.D., a sophomore economics major; and
Aaron Steele, a sophomore finance major from Vermillion.
The team received a prize of $1,500, while second
place and $1,000 in prize money was awarded to ITT
Educational Services, which included M.B.A. student
Tyler Stewart of Sioux City, Iowa and Nicholas Gates of
Mitchell, S.D., who graduated with his M.B.A. from USD
last summer.
Third place Capella University researchers Alex C.
Johnson, a senior finance major from Spencer, Iowa,
Aaron Oestmann, a senior finance major from Rapid
City, S.D., and junior finance major Howard Schmidt of
Loveland, Colo., received $500.
Brandon Flynn, Matthew Hicks and Joseph Jares, all
senior finance majors from Sioux Falls, S.D., finished
in fourth place and received $250 for their analysis of
DeVry University.
The competition was judged by Glen Herrick, senior
vice president of Corporate Finance and Treasury at
Wells Fargo, Jason Engman, C.F.A., assistant vice
president at Wells Fargo and Jarrod Edelen, C.F.A., a
small/midcap portfolio manager at the South Dakota
Investment Council.
Fall
2012 3
L-R: Jarrod Edelen ‘03 B.A., ‘07 M.B.A., Logan Nord, Rebecca Duncan,
Aaron Steele, Glenn Herrick ‘04 M.B.A. and Jason Engman ‘05 B.B.A.
Our record of assisting entrepreneurs to success in
the Giant Vision contest is a great testimonial to the
quality of work done by Small Business Development
Center counselors across the state and our entrepreneur
program on campus,” noted Michael J. Keller, dean
of the Beacom School of Business. “The SBDC has
been managed by the Beacom School of Business for
25
years and is an outstanding aid to South Dakota
businesses. Not only did USD deliver multiple winners
in the student division we helped through the SBDC
offices, we helped most of the winning competitors in
the non-student division as well.”
Hosted by the South Dakota Chamber of Commerce
&
Industry, winners of the 2012 business competition
and student business competition were announced
during the GOED Conference banquet in Sioux Falls in
April. Gov. Dennis Daugaard presented the top prizes in
both competitions.
The Governor’s Giant Vision Business Awards and
Governor’s Giant Vision Student Awards, held annually,
were established to help citizens realize that South
Dakota is a great place to start a successful business and
as an opportunity for entrepreneurs to compete for seed
money and a chance to achieve their dreams.