UFC: Insights Into Finance
Article by Joana Kim & Dipansh Jindal
Insider’s new event journalism series is already off to a striking beginning - this first week, with YFC. Recently, the Insider had the opportunity to attend the York Finance Club (YFC) annual two-day Undergraduate Finance Conference on June 16th and June 17.
What is YFC?
“The York Finance Club (YFC) is dedicated to educating students in the finance industry and providing assistance with recruitment. Students are equipped with the necessary resources to become ambitious, well-rounded, industry-focused business professionals. We host over 25 events each school year including technical workshops, networking events, and our annual Undergraduate Finance Conference.” - Jade Safos (BBA 2023, Junior President)
Stock Pitch
On Day 1, The conference commenced with an exciting start - the top 5 stock pitch presentations. In a stock pitch competition, competitors prepare and present an idea that argues for or against investing in a public company’s stock using various valuation metrics and data as an assessment of a company’s risk. The top 5 teams could pitch to Patrick Morrow, Marco Martino, Hassan Khokhar, and James Newman - all representatives from National Bank (of Canada), Canada’s sixth-largest commercial bank.
The first team to present the stock pitch was ARS Capital (3rd place), who pitched Green Brick Partners. Fortunately, the team had finished just on time. ARS Capital had used P/E as their valuation metric, and the judges questioned whether it was the best choice for a developer and homebuilding company. The second stock pitch team was Capital Wisdom, and they pitched to Prog Holdings. The clarity and exhaustive industry research evident in the presentation engaged the judges with the pitch favourably. Thirdly, Lehman Risk Management pitched to the University of Toronto. Unfortunately, the investment thesis seemed too dependent on “news air” and relied on acquisitions that they had not bidded on yet. As a result, the judges did not show exceeding enthusiasm for this presentation. Teams from Western University had taken the fourth and fifth slots, and both teams had performed very well.
On Thursday (Day 2), the winners for the stock pitch were announced. A team from Western - ADK - who pitched Costco, were the winners.
Here’s how Kevan Shah, the second-place winner from the team Capital Wisdom, described the conference experience:
“Building a Stock Pitch from the ground up provided us with an opportunity to put our passion for finance to practice in a real, tangible setting. Our team was able to test our skill and competitive spirits against teams from other top universities. Lastly, the two-stage judging process with CPPIB and National Bank, allowed us to not only test our skill but to push our critical-thinking and presenting abilities. In conclusion, the Undergraduate Finance Conference Stock Pitch Competition was an excellent experience, and the team recommends it for anybody interested in a career in finance.”
Networking Experience
After the top 5 stock pitches were presented, the event transitioned into networking, which included hearing informative words from company representatives. YFC utilized a new online networking platform, Remo, described as an “Interactive Virtual Event Platform,” which virtually provides what is likened to an actual networking experience and was a great tool that enhanced the conference experience, albeit it was online.
During Day One’s Networking session, Brendan Charles, Vice President in Investment Banking within the Diversified Industries at National Bank Financial, explained National Bank’s value of joint effort and hard work with memorable words, including the following quote:
“At National, everyone picks up the shovel (even interns), and everyone gets to work.”
On Day Two, workshops were held by representatives from the event’s sponsors. In Workshop 1, CIBC had presented four students and emphasized its company's reach to compete with banks on the global scale, along with points on its culture of collaboration. For example, while CIBC works with its client, the speakers explained that words like “WE” and “US” are utilized when discussing engagements.
During lunch, there was the opportunity to hear from keynote speakers, such as Ryan Voegeli (CIT at CIBC), who gave insight into investment banking. He mentioned how
“Investment banking is no different from law or medicine or golf...you just gotta get the reps in.”
Later on, Ryan also spoke in regards to the company culture at CIBC, with quotes highlighted below:
“Everyone is from different ethnicities and backgrounds, but one thing remains constant: everyone has a passion for investment banking. There are different paths to the business. CIBC has an exceptionally entrepreneurial culture (choose your own adventure type of deal).”
Saad Rawra (Managing Director in Investment Banking at National Bank Financial) shared words on the advantages of being a student in the internship process, such as:
“One of the best parts of being a student is that everyone is open to talk to you. These competitions and conferences allow the opportunity to connect with people who want to talk to you.”
”You also get to work in teams, which is an essential precursor to the finance world.”
Overall, the Undergraduate Finance Conference hosted by YFC was an enriching opportunity for students to learn more about the world of finance and engage in activities from stock pitches to networking with experienced representatives in the industry, and it is, as mentioned by club president Jade Safos, one of the 25 events that YFC hosts over the school year. Those who want to learn more about YFC and the various events they host throughout the year can connect with them on their socials for updates on their initiatives! (York Finance Club on Facebook and @yorkfinanceclub on Instagram).
Lastly, if you would be interested in also featuring your club on the Insider, make sure to email us at theinsiderexecutive@gmail.com! We’d love to connect and bridge together with clubs to engage our community.