(PAPER) CMSC National Equity Research Competition

National Stock Case Competition (NSCC) 2024, one of the flagship events of the CMSC UI Stock Summit

Project information

  • Category: Research, and Competition
  • Type: Team Project
  • Project date: Oct, 2024
  • Project URL

(PAPER) CMSC National Equity Research Competition

I had the privilege of participating in the National Stock Case Competition (NSCC) 2024, one of the flagship events of the CMSC UI Stock Summit, organized by the Capital Market Student Community (CMSC) of Universitas Indonesia. Held in conjunction with National Capital Market Day, this competition aimed to enhance financial literacy and capital market awareness among Indonesian youth. NSCC challenged participants to develop an equity research report by analyzing a real company and making a strategic investment decision aligned with the theme “Fostering Youth Investment Creativity Toward Golden Indonesia 2045.”

  • Purpose of Participation: I joined this competition as a way to channel my strong interest in stock analysis, capital markets, and strategic investment thinking.
  • Main Objective of the Competition: To sharpen critical, analytical, and creative thinking in evaluating the investment worthiness of a listed company.

In this project, I was actively involved in conducting Risk Analysis, alongside contributing to financial and market research. My task was to identify and assess company-specific, sectoral, and macroeconomic risks that could impact the company’s performance and valuation. This included analyzing market volatility, regulatory exposure, business model sensitivity, and broader economic uncertainties that could affect future cash flows and investor sentiment.

  • Key Contribution: Developed a structured risk matrix that categorized risks into operational, financial, market, and ESG-related factors.
  • Learning Outcome: Strengthened my ability to integrate qualitative risk considerations into valuation models and investment decision-making.

Beyond risk assessment, I also supported the team in building the valuation framework using the Discounted Cash Flow (DCF) method and relative valuation techniques. These tools allowed us to derive the company's intrinsic value while factoring in both upside potential and downside risks.

Participating in NSCC 2024 enriched my understanding of the investment decision-making process from both a strategic and technical perspective. It also helped me appreciate the importance of managing uncertainty and evaluating risk factors skills that are vital in the real world of finance and portfolio management.

  • Final Takeaway: This experience further ignited my passion for equity research and risk analysis, reaffirming my career aspiration to work in investment strategy, equity research, or risk management within the financial industry. It also solidified my belief that sound investments are not just about returns, but also about understanding the risks behind them.